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

To: SliderOnTheBlack who wrote (61763)	3/8/2000 8:43:00 AM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Crude down in London - but Oil Majors's stock UP 5-11 %% !!! rd.yahoo.com*http://cbs.marketwatch.com/archive/20000308/news/current/worldmarkets.htx?source=blq/yhoo&dist=yhoo Oils rise Oil stocks rose, following crude oil's rise to a nine-year high of more than $34 a barrel Tuesday, even after April crude fell to 31.05 a barrel in London Wednesday. See full story Shares of BP Amoco PLC (BPA: news, msgs) added 58 pence, or 11.5 percent, to 563.50 pence. Shell Transport & Trading PLC (SC: news, msgs) shares added 26.50 pence, or 5.7 percent, to 489.25 pence. And TotalFina SA (TOT: news, msgs) tacked on 7.90 euros, or 5.6 percent Margined a Major ? - candy from a baby... PS... be nimble on margin people - 291 M boe from the API's is "rocket fuel" for the spin doctors... it is NOT indicative of $32, let alone $25 Oil imho... That Storage # is all the ammo that OPEC needs to MAINTAIN CUTS - and to stick to the mantra - "we believe that as indicated by the API supply numbers that the glut of Oil has NOT been as yet totally eliminated. We can not be held responsible for speculation in the futures markets. The fundamentals of supply indicate our need to maintain cuts for another 6 months.... Do it OPEC ! HOLD THAT LINE ! I guarantee you that "if" - or, "as" supply creeps toward 300 M boe - the shorts will pile on crude futures AND the OSX mo-mo fav's here. Folks - SII BJS et al are just crying to be shorted here if given a crack... don't be overconfident and don't forget to factor in "RISK" on the risk vs. reward equations going forward. Bottomline: the mo is here - don't fight it, but - don't trust it either. 291 M boe is NOT euphoric people...reality will surface once again - forward PE's of 40-60 and multiple valuations at this stage of the dayrate, ultilization, backlog, revenue and earnings cycle; are far, far ahead of the prior valuation multiples of the 97-98 cycle. I'd look for profit taking & rotation opps continually here in this environment. OSX 85-95 looks like reasonable support - but, the good news cant stop flowing, nor can the DOW rally for us to keep chuggin along from OSX 110+ here.