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


To: Gameboy who wrote (57196)12/21/1999 6:18:00 AM
From: Crimson Ghost  Read Replies (2) | Respond to of 95453
 
Gameboy:

I hope you were right, but the market is saying otherwise.

It does seem like tax selling is a factor in the current dismal oil stock action; so we may get a decent bounce come January. But I do not see a SUSTAINED upmove until market participants see where oil settles next spring.

Most Wall Street analysts are assuming an average 2000 crude price around $19 according to the Barron's article I posted a few days ago. We need upward revisions in this consensus to set the OSX on fire again.