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

To: SliderOnTheBlack who wrote (57626)	12/30/1999 3:02:00 PM
From: ItsAllCyclical	Read Replies (2) \| Respond to of 95453

Y2K and oil prices - Buy on the rumor, sell on the news? Or the lack thereof. I agree that supplies are down and demand is up, but the oil traders are a speculative bunch. I've also been told that OPEC compliance for this month is rumored to be 70%. Either way I'm wondering if we won't sell off a little post y2k in oil prices if we don't get any disruptions (be they mechanical or political). How much of current price reflects traders speculating on y2k issues? Personally, I don't think it's that big of an issue, but I wanted to raise the question to see what people thought. I believe any downturn would be relatively short lived due to overall fundamentals though. If there is a y2k premium reflected in oil prices NOW, I don't believe that premium is more than $3-4. It could be yet another explanation for the weakness in E&P's issues if traders are waiting for a big dip in oil prices before going long the E&P sector in a big way. We'll certainly have our answer in a few days. Staying the course for now.

To: SliderOnTheBlack who wrote (57626)	12/30/1999 4:19:00 PM
From: Roebear	Respond to of 95453

Slider, I was wondering who got the rest of my 5 1/2 limit order on UFAB before I got it all, (doggone it, gggg). I am impressed by your ability to change opinion in a flash and make a trade, because I know you didn't care too much for UFIB, er I mean UFAB. In any case, welcome to the club, somehow I feel it will be a FABulous year. I am tickled today because I was finally able to snag some options (caution, very thinly traded) on my own company HSY, which has been a bad dog to the bone this year. Nontheless I feel, after hitting three year lows this week, it will do better by summer, Y2K or no Y2K, market pullback or no pullback, things will be on the mend in the town of chocolate. Too expensive a stock to hold long term for moderate gains (my guess is 60's+ by summer from high 40's here) so I went with options. So now have drill bit (PKD), have chocolate, a bit of gas silver and cash and Y2K is looking FABulous, I am compliant VBG. Edit, emphasize guess! Best Regards, Roebear