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

To: ItsAllCyclical who wrote (60039)	2/9/2000 6:27:00 PM
From: Ronald J. Clark	Respond to of 95453

Jim, XOI at 400 would represent an 80% retracement of the advance in the XOI since last March. If it could double bottom at that level and assuming fundamentals stay in place (Oil > $20.00/bbl and Gas > $2.25/MCF), I believe the table would be set for a great run past the old 540 ish high in the XOI. Any other reads on the XOI? Ron

To: ItsAllCyclical who wrote (60039)	2/9/2000 6:32:00 PM
From: BigBull	Respond to of 95453

Could be. I'm still holding to my call for the low eighties to hold, simply on a technical basis. Individual stock stories may drag the OSX slightly lower, we'll see. Interesting to note that at least some OS stocks are trading with the commodity. Land drillers. Still think tubuler stocks are very strong here, LSS leading the way. IMO these stocks will lead the next advance. PTEN UTI PDS KEG LSS MAVK TBI will be the leaders. Plenty of time to get into off shore issues. Big Oil stocks? God help 'em, their CEO's sure won't. XOI 400 to 425 looks good. All the above is strictly JMVVHO.

To: ItsAllCyclical who wrote (60039)	2/9/2000 6:54:00 PM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

Trading XOI issues... Opinions welcome. If memory serves Texaco (TX) is the one major that's really stepping up their E&P efforts, correct? So far P, CHV, TX and ARC look like the best bets (purely on a technical basis being close to bottoms). I'm only interested in trading these, not owning them long term. My buy targets would be Stock Current Price Buy area P 38 35-38 CHV 75 70-74 TX 49 45-48 ARC 64 55-60 MRO 23 18-20 I would appreciate any feedback. If I'm going to be trading short term in these uncertain times, I want something extremely liquid that can't be taken down because one or two funds choose to sell. The XOI issues while having the least upside long term are also the safest imho to trade short term. To be safe it's probably best to wait for a day where it looks like we'll close well off the lows and add some positions in the final 30 minutes. I'm tired of being nickeled and dimed to death in these smaller issues.