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

To: marc chatman who wrote (58414)	1/13/2000 1:16:00 PM
From: dmccoach	Read Replies (1) \| Respond to of 95453

Marc, I don't trust it either. I just traded DO for a 1 1/2 point from yesterday and did almost the same for the day before... My charting sware is down right now, but the resurgence to 88 is, I suspect, creating a bearish divergance on the 60 min chart to be corrected over the next few tradind days as we go back to 81 to 84 to "work it out" - then: ERANINGS and we determine a new direction. Just my SWAG (and you know what a SWAG is!), Dan

To: marc chatman who wrote (58414)	1/13/2000 1:54:00 PM
From: Richard D	Respond to of 95453

As we approach recent highs in oil, you have to ask yourself one question. Do you feel lucky punk, well do you? Because in all this hoopla, I seem to have forgotten how much oil I pumped and how much I stored. Go ahead punk make my day! <g> Seriously, can oil take off after this warm winter, going into the soft shoulder season, with loaded tankers on the way due this February per DLJ? Natural Gas has an even bleaker outlook, since it is more dependent on the weather, having no effective 'OPEC' for their commodity. The other question I have is, what will spikes in interest rates have on growth, and how far out will the market discount a dampening of the economy. We all know liquidity will dry up post Y2K, since the Fed no longer fears calamity. I wonder if we are not in a similar situation to Nov. 22nd as well. While I was very bullish a few weeks back, the fundamental backdrop has shifted in my mind. The bullish factors remaining include depletion, OPEC, and perhaps some improved earnings this quarter. If oil retraces, many may be holding the proverbial 'long term investment' once again. I'm selling on strength presently. Richard