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

To: jim_p who wrote (59622)	2/2/2000 5:17:00 PM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

>> I have to admit, this was a very disappointing day << I have somewhat mixed emotions about today. In many ways I'd just like to see OPEC come out and raise production say 25-40% of the current cuts and then extend the remainder until next Dec. It would remove the wall of worry surrounding this sector if prices stablized in the $20-25 range vs the $25+ range. However, by talking down prices vs increasing production we're going to have a longer period of $25+ oil. OPEC is definately in the driver's seat. They've come along way from the "no respect crude will go back below $15" days. A spike over $30 probably would have prompted OPEC action sooner than March. We have to admit that $25+ oil is a double edged sword for us oil investors. People are so doubtful of these price levels that they are hesitant to invest in this sector. Given the likelyhood of more Fed rate hikes I'm very surprised we didn't see more rotation, but I guess the OPEC meeting has created too much of a cloud over the sector. Guess I'll be playing the swings until March. TBI up 10%+ today. Expecting another 5-10% day tomorrow. Bigbull we need to break the 52 week high of 16 7/8 for a breakout to 19-20 imho. We may do it on this run or we may need one last pullback to the 14 1/2 - 15 1/2 area after this run is over. I'm thinking 16 1/2 is a given, but with the oil patch you never can tell.