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

To: Crimson Ghost who wrote (57496)	12/28/1999 4:24:00 PM
From: Roebear	Read Replies (2) \| Respond to of 95453

George S. Cole, George, which are your favorite mutuals right now in the energy sector, if one were to be buying any dips over the next week or so? Please include symbols, as I am not very familiar with mutuals. Thanks, Roebear

To: Crimson Ghost who wrote (57496)	12/28/1999 4:29:00 PM
From: Winkman777	Read Replies (1) \| Respond to of 95453

George, I seem to be in the minority, but I believe that crude will "settle" above $24. OPEC meeting to be postponed until September? commods.reuters.com March OPEC summit still on, for now - Venezuela >Diplomats in Vienna, headquarters of the 11-member oil exporters' club, said they expected the South American country to postpone the March 30 meeting after mudslides and flash floods killed up to 30,000 near Caracas 11 days ago.< >Even before the natural disaster 11 days ago, which closed the country's main airport and destroyed whole towns on the Caribbean coast, officials had been hinting at a possible postponement<

To: Crimson Ghost who wrote (57496)	12/28/1999 4:48:00 PM
From: Bernie Diamond	Read Replies (3) \| Respond to of 95453

George: I have to chuckle at "conventional wisdom" as it pertains to this sector. It was only ~9 months ago that conventional wisdom would have us believe that OPEC couldn't hold to quotas and that $15-$16 oil was all we needed to have the integrated oil companies start to spending for E&P again. We're now testing $27 oil, with some predicting over $30 oil. So much for conventional wisdom. I'm placing a large bet that supply/demand metrics will prevail. Since all my positions are long (BHI, DO, ESV, FLC,FGH, GOU, HAL, NE, PKD, RIG, GASFX) I'm willing to wait for B2K. I don't believe in the inevitability of a price crash, with oil "settling" to the low $20's. World economies are growing with oil in the mid-$20's. To my thinking, no one knows what the price will be going forward. The majors and investors IMHO are making a mistake waiting for a "stabilized" oil price. Finally, as demand increases, and we draw down reserves, as supply lags, they're all going to rush for whatever rigs are available and have to wait on line (years) to have new rigs built to their specs. Of course, if I'm wrong, I have my telecommunication stocks to bail me out. <VBG>

To: Crimson Ghost who wrote (57496)	12/28/1999 7:57:00 PM
From: BigBull	Respond to of 95453

George, just a thought. Perhaps the OSX index is not "responding to oil prices" due to company specific problems plagueing individual company's. BHI and SLB are the cases in point. Perhaps the index is masking the much greater strength in other issues that ARE in fact "responding to the price of oil". IMO SII and RIG will hit new highs soon. I think DO is an incredible bargain here. HAL looks to be putting in a solid double bottom. Drillers first. BHI will take much more work. Maybe SLB as well, but SLB will recover much sooner than BHI. Just a thought. Happy new year! I'll see ya at the top! <g>