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

To: SargeK who wrote (56346)	12/7/1999 4:51:00 PM
From: inchingup	Respond to of 95453

More exciting news: ho.......hum biz.yahoo.com NYMEX crude ends down, eyes API data for direction NEW YORK, Dec 7 (Reuters) - Crude oil futures finished sharply lower on profit-taking Tuesday as the market awaited further direction from the weekly industry inventory data, traders said. NYMEX January crude settled at $26.22 a barrel, losing 44 cents on the day, but recovering a bit after dropping to $25.99 past midday. The contract peaked at $26.65, a penny lower than Monday's settlement. ``The day's decline on oil prices was nothing unusual after Monday's good-size run,' said Jim Ritterbusch, president of Ritterbusch & Associates, a trader for Sweeney Oil in Chicago. ``We're still seeing a long liquidations ahead of the weekly stats,' said a NYMEX floor trader, referring to the American Petroleum Institute's (API) widely watched weekly report, which is due around 5 p.m. (2200 GMT). On Monday, crude oil futures rose sharply after Iraq said it would keep the lid on oil exports for the third straight week after rejecting a U.N. Security Council action extending by another week, or until December 11, the oil-for-food deal. Iraq had previously rejected a two-week extension of the deal and its suspension of about 2.4 million barrels per day in oil exports had pushed up oil prices to near their highest since the Gulf War. Iraq's Deputy Prime Minister Tareq Aziz reiterated on Tuesday that Baghdad would accept a straightforward six-month extension of the U.N.'s oil-for-food program, but warned that such a deal might not be on offer from the U.N. Security Council. The oil-for-food deal has become entangled with a wider sanctions resolution being debated in the U.N. Security Council and oil market analysts said even a rapid resolution of the issues may not quickly bring back Iraq's oil exports. Late Tuesday, Iraq's Vice President Yassin Ramadan said Iraq would reject a British proposal to suspend Gulf War sanctions, which was tied to a new systsem of controls on weapons production. ``If the cost of rejecting this resolution were aggression, we would accept the aggression,' he said. On the NYMEX, crude for January delivery had a brief 20-cent rally just before 2:00 p.m. (1800 GMT), on a bullish report from the head of the Paris-based International Energy Agency (IEA). Robert Priddle, executive director of the West's energy watchdog, said strong world demand for oil will draw down crude stocks in December at arate of five million barrels per day. Priddle also said OPEC compliance with output cuts was ``unusually high' at 85-90 percent of targetted levels. On that note, NYMEX front month crude rose to $26.34 from $26.13 in a matter of minutes, but fell back just as quickly. Heating oil and gasoline futures ended lower, moving down with crude and amid forecasts of stockbuilds last week. January heating settled at 65.70 cents a gallon, down 1.53 cents, just off its session low of 65.50 cents. It traded as high as 67.10 cents. January gasoline stayed marginally lower in late trade but moved to the upside near the close, settling at 72.82 cents, up a modest 0.28 cent. It bounced between 71.75/72.90 cents. In London, January Brent crude pared losses and last traded 39 cents lower at $25.40 a barrel. Meanwhile, traders and analysts told a Reuters poll ahead of API report that they expected another drop in U.S. crude oil stocks nationwide for the week ended December 3, citing a tapering off of imports amid a slight upswing in refinery runs. They said they also expected distillates and gasoline stocks to show modest increases as recent purchases for stockpiling purposes were still being worked off the system. Those polled said they expected an average draw of 2.5 million barrels in crude oil stocks, an increase of 700,000 barrels in distillates, which includes heating oil, and a build in gasoline supplies of 1.25 million barrels.

To: SargeK who wrote (56346)	12/7/1999 4:55:00 PM
From: oilbabe	Read Replies (1) \| Respond to of 95453

Tomorrow I am selling all my stocks and buying PUMA, YHOO and ANCR....equal weighting of course to spread my risk!

To: SargeK who wrote (56346)	12/8/1999 10:40:00 AM
From: SargeK	Respond to of 95453

Addendum to Post #56348 (FGH) After posting #56348 yesterday, I realized I had inadvertently omitted a very significant and important group of FGH investors. In the past 3 trading sessions 1,389,400 shares changed hands (I suspect from weak to strong). The group to which I now refer are the investors who hold the remaining 38 million shares who are NOT persuaded to sell during a period of temporary market aberrations. They refuse to be dictated by a minute number of shares (which set the current price). It is also this group, which quietly accumulate more shares (averaging) as the fickle market provides them gifts of extraordinary values. FWIW. SargeK

To: SargeK who wrote (56346)	12/9/1999 10:59:00 AM
From: SargeK	Read Replies (1) \| Respond to of 95453

FGH UP Sharply again today With relatively strong volume: partners.freerealtime.com OSX: quote.yahoo.com^OSX&d=5d FGH Moving against the tide: quote.yahoo.com It appears the bottom is at long last behind us. A higher close today and tomorrow will most certainly impact technical signals in a positive manner. While the turnaround is yet to be confirmed, current price action is the most positive seen on this issue in months. Keeping my fingers crossed (and I'm not even superstitious!) >VBG< SargeK