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


To: BigBull who wrote (57099)12/17/1999 11:45:00 AM
From: ItsAllCyclical  Respond to of 95453
 
Any thoughts on the best tech shorts here? Getting close to pulling the trigger, but waiting for a day where we rally and close near the lows. I want to be hedged in case a tech pullback sends oils lower too.

I still think these most recent gains are somewhat option related and short covering. Next week is typically light volume, but it'll be interesting to see who boxes their positions before the inevitable profit taking in techs come y2k.



To: BigBull who wrote (57099)12/17/1999 11:55:00 AM
From: SargeK  Read Replies (1) | Respond to of 95453
 
Hey Shorts WATCH OUT!Ensco Gets $195 Million Credit Line
to Construct Drilling Rig

Dallas, Dec. 17 (Bloomberg) -- Ensco International Inc., the
seventh-largest U.S. oil driller, said it obtained a $195 million credit line backed by the U.S. Maritime Administration to finance construction of an offshore rig.

Friede Goldman Halter Inc. is currently building the Ensco
7500, which is expected to begin drilling for Houston-based
exploration company Burlington Resources Inc. late next year.

bloomberg.com

This must be one of those contracts JL indicated was expected but deferred. >LOL<



To: BigBull who wrote (57099)12/17/1999 12:48:00 PM
From: BigBull  Read Replies (1) | Respond to of 95453
 
Irans' Ardebili sounding very hawkish:

canoe.ca

"(Consumer countries) basically have two options: first they will use their commercial resources and after a while utilise their strategic resources," the official Iranian news agency quoted Ardebili as saying in response to a question on how consumers would deal with a hike in crude prices.

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Got 'em buy the short ones, and squeezin'. Youch!