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

To: The Ox who wrote (56380)	12/7/1999 7:18:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Michael H - good luck; I'm starting new project monday as well.. and won't be posting as much, nor be able to watch the tape tic by tic... I'll watch the tape tomorrow however- I "may" cut back on what I bought today, back to being nearly fully invested - but, eliminating the margin. I think the E&P's have been far oversold in comparison to the OSX. So I am going to save some buying power in case the OSX see's the mid 60's again. I'd love to get UTI NBR MRL FLC RIG SII CAM WFT HAL BHI PGO VTS OII NOI GLBL back in the fold for the longterm. This is one tough tape. I feel that we can NOT sustain a major move without the mo-mo money rotating back into the oilpatch. I think this market will continue to ignore all of the oilpatch fundamentals untill the NASDQ bubble pops. A Natural Gas rally is the only near term catalyst to move us here - and that will take a weather change - but, one looks to be possibly coming next week... I'm going back to my core holds - UPR OEI NBL PXD EOG here and trim a bit in the am - I like my cost basis and what I own. I'll hold the margin play for either an OSX blowoff to buy back some old fav's - or to buy into a natural gas rally on the way back up. We've got 50% spikes left & right for these E&P's. This has been one nasty bear to wrestle of late. I think Samurai Slider is going to "re-sheath" his margin sword to fight another day... I'll save the margin for small cap laggards, or to add on strength if we break out unexpectedly. If I play any more margin - it will be OSX 65 or less and 10% moves down on any core E&P's from today's close. Nothing is behaving logically in this market of present - I'm going to sit back and watch for any individual stock breakdowns - or another 10% down - before I buy anything else. It has to come to me and make it worth my while - or, I remain "Sitting Bull" for a while; untill reality returns, the weather changes, or Nat Gas rallies... Good Luck all - I'm worn out...