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

To: SliderOnTheBlack who wrote (60435)	2/16/2000 4:02:00 PM
From: Think4Yourself	Respond to of 95453

All right, you guys talked me into it. I took a LITTLE profit in OEI (just enough for a nice little vacation in Europe). Still have the vast majority of the holdings and will put the cash raised today right back in if it retraces tomorrow.

To: SliderOnTheBlack who wrote (60435)	2/16/2000 4:20:00 PM
From: SliderOnTheBlack	Respond to of 95453

Pissani on CNBC is an idiot; wondering why Crude mysteriously rallied at the close ? He talked to traders who merely said - " may be options related, we just saw strong buying at the end" What idiots ! Crude retraced this am as the Saudi Minister was talking down Oil and rallied right during Clinton's speech. I did not need any market pundit to tell me what I saw - that Clinton does not have his heart in using the SPR's as a threat against OPEC. I would bet everything I own today; that the SPR's will not be used - not ANYTIME soon. Crude Oil rallied as it should have - because the SPR threat is D-E-A-D. again, put a damn fork in it - one less "spin doctor" tool to use. OPEC "talking down" crude is also telegraphing that they either will continue cuts as is; or will ease to such a small extent that it will merely be an obligatory political gesture. THIS OIL RALLY HAS LEGS people - bank on it. People I have to run for the evening; it would be a great public service if someone could do a rough guestimate; on what type of drawdowns we could see by say 4th of July - peak driving season. Supply levels in the 250 range, can you imagine... could set up a 3 year+ Boom is Asia keeps recovering - OPEC could gradually increase production (they should give the increased production as a reward to those who best complied to prior cuts - why didnt OPEC think of this as an incentive ?)- and keep a floor of low-mid $20's under Brent for perhaps 2-3 years if they suck out all the excess. OPEC should talk Oil down - indicate they will ease; then short the hell out of crude right now; then cover and tighten the hatches down - squeeze the hell out of the futures speculators who went short - give them a lifelong "cure",,,,driving crude thru $40 by Memorial day. OPEC merely needs to jawbone the price here untill the end of US heating season. America will get laughed at on a Global basis bitching & moaning about our right to $1.10 gasoline this summer... This was a MAJOR STEP - NBC news tonight has the OIL CRIS - AMERICA HELD HOSTAGE - as their lead story.... THIS is a major turning point folks - THE SEEDS OF SENTIMENT were firmly implanted in the public perception today.... man, this is a biggie.... Today was OPENING DAY of Boom 2000... we may not rally here, but this has a very shallow floor under crude here and we WILL see MASSIVE Sector Rotation - right after OPEC formalizes thier actions. Let there be a market retrace directly into the OPEC meeting and we get the best of both worlds... E&P's showing life folks - keep them overweighted.