Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: ItsAllCyclical who wrote (61820)	3/8/2000 4:50:00 PM
From: ItsAllCyclical	Respond to of 95453

OPEC will increase production (Iran gives in) cnnfn.com An excerpt: The sources said that a statement released after talks in Riyadh between OPEC powers Saudi Arabia and Iran signalled that Tehran now had no objections to releasing extra oil supplies. "Now there is a consensus on raising production April 1," one of the sources said. "Iran does not object to a production increase. It will go along with other producers." Saudi Oil Minister Ali al-Naimi and his Iranian counterpart Bijan Zanganeh said after meeting in Riyadh earlier Wednesday that they agreed on a need to "balance the market in order to reach sustainable price levels conducive to world economic growth and market stability." --------------------------------------------- Granted Iran was near production capacity anyway by some measures. I'll bet they'll increase by 1 mil barrels a day. We could very easily go back over 300 in storage by early summer. While I don't think we'll see $18 anytime soon we could head back to $25 in a hurry with a few bad API's and some spin doctoring. Still bullish long term, but very glad I protected profits today. It appears today's drop in crude prices had less to do with API #'s and more to do with OPEC.

To: ItsAllCyclical who wrote (61820)	3/9/2000 9:56:00 AM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

I have been trying to take profits since the market opened. I just can't push the final button to sell any of my stocks. The ones with weakness are the ones I most prize (APA, OEI, UPR, BR). When I look at my earnings projections and compare them to what the ANALysts have posted, my fingers start trembling. One analyst increased his estimates by 50% yesterday, which probably brings him on par with what I have. Regarding what OPEC will do, the analysts have not made even one correct call in the past 14 months. The futures traders, who have been far more accurate, are still saying OPEC will increase very conservatively. There are two differences between the two: 1. The traders talk with cash while analysts talk with methane. 2. The analysts can't be understood when they are sitting down. I may regret this in the short term but I am holding. Longer term I am sure I will be glad I did as I am likely to have serious tax issues this year and/or next.