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


To: IndioBlues who wrote (56983)12/15/1999 3:09:00 PM
From: ItsAllCyclical  Read Replies (2) | Respond to of 95453
 
NBL, EOG, BR (pure plays) were lagging today due to .10+ drop in NG prices. Seems like API/DOE#'s are known in advance and we're selling on the news. Often big moves occur after options expiration. Next week will be thinly traded though so it's hard to tell, but certainly the bottom is behind us.

As for gas prices I'd say this is shorts piling on since it went from 2.20 to 2.60 pretty fast. A little cold spell will do the trick.



To: IndioBlues who wrote (56983)12/15/1999 3:12:00 PM
From: victorw  Read Replies (1) | Respond to of 95453
 
What's missing with the small caps? Like CHK. Company is projecting $.76 earnings for 2000 (made $.13 in Q3), so the stock is selling at 3.5 X forward earnings.
I can't find unfavorable hedges, and higher than projected oil prices should make up for the dip in Q4 natural gas prices.
Are there facts or rumors floating out there I'm not hearing. Any help appreciated. It's very hard not to buy here.