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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: BigBull who wrote (56165)12/6/1999 1:14:00 PM
From: IndioBlues  Read Replies (2) | Respond to of 95453
 
BB, I've been watching crude all day. I'm amazed that with this strength, coupled with the decline in transports, we aren't seeing a move in xoi or osx issues. VRI looks very good to me at $54 and change, What am I missing here....



To: BigBull who wrote (56165)12/6/1999 1:35:00 PM
From: Think4Yourself  Read Replies (1) | Respond to of 95453
 
Yes, it is fascinating to watch the market mentality. What impacts a company bottom line more, a 67 cent rise in oil prices or an EQUIVALENT (4.5*6=) 27 cent drop in NG prices?

It only hurts the NG producers if they produce over 2.5 times as much NG as they do oil on a BOE basis. OEI is taking a big hit but they produce about evenly (42770/6=) 7128 BOE NG vs 7098 BOE oil.

IMHO THE SELLERS HAVE NO COMMON SENSE. Oh well, their loss is my gain.


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