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

To: SliderOnTheBlack who wrote (63285)	3/29/2000 11:42:00 AM
From: jim_p	Respond to of 95453

This market will explode when people wake up and realize the demand is closer to 78 MMBPd than 77 or 75 MMBPd and growing at a faster rate that any one has projected The real story is NG. The twelve month strip for NG is now over $3.00. Expectations are for demand to exceed supply THIS year. NG will spike up to $10.00 this winter. Long term planning for the majors are working on NG projects today that can not be justified without sustainable $3.50 to $5.00 long term NG prices. If it doesn't get any better than that, demand for oil will exceed supply buy sometime next year. In 1978, oil and gas stocks represented 10% of the S & P 500. That number increased to 30% at the peak in the oil cycle. Tech stocks represented 10% of the S & P 500 just a few years ago, and is now in excess of 30%. What do you think the percentages will be in two years? This is as good as it get in the oil patch, and it hasn't been this good in over 30 years. Record earnings will start to show up in several weeks. Jim

To: SliderOnTheBlack who wrote (63285)	3/29/2000 11:45:00 AM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

Anyone else notice that techs are down 3%? A little rotation coming our way soon me thinks... Right now we just have the fundamental buyers. The momentum buyers ditched us this morning but they'll be back. The market caps of all the oil service stocks put together is relatively small (especially if you take out SLB, HAL and BHI). It won't take much money to move us to OSX 130 imho. A mid day profit taking stall looks likely followed by a another late day rally.