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

To: Think4Yourself who wrote (65308)	4/26/2000 2:51:00 PM
From: SliderOnTheBlack	Respond to of 95453

"Q" - I hear you; I'd be worried actually if you did NOT defend yourself (VBG). But - please think about where we are for NG here... We are not in a peak demand time - prices are historically high - lots of drilling just ramped up for NG in Q1-2 here. Yes, we exited with low supply and historically the supply & demand numbers are great here - but; this is the same damn exact story as last Sept - except we are in the "deadzone" here - that is what REALLY cautions me. We heard and saw all the arguements for $6 NG last year too - but, what is different this year is the drilling & production levels are much, much higher going into the "Fill" period. I dont like not taking profits at historically pricey NG levels in the "deadzone" - pre-drawdown season. Especially when the Stocks just got fairly valued imo... Tomorrow into next tuesdays API's are nothing but risk and little upside reward - we are only about 5 points from resistance in the OSX etc... this screams caution imo... I want CASH for both a potentially final strong pullback in the OSX (as the draws will hit in May-Aug) and I want to buy the NAZ again if the ECI GDP numbers are bad. Good article today about the major brokerages supporting the market - given the ATT Wireless IPO tomorrow - they can not afford a selloff today.... Lots of cash being sucked out tomorrow on that IPO folks... Just lots of Bad Karhma here folks... But, I am a trader - for LT buy & holders - just be off margin imo. No reason to sell- unless we see 320 M boe in storage...

To: Think4Yourself who wrote (65308)	4/26/2000 2:55:00 PM
From: chowder	Read Replies (1) \| Respond to of 95453

Hi Johnny Q! The Invisible Crisis, is it real? I think you and Slider both make very good points for your current positions. Unfortunately, for me, I'm not a wealthy man, so I have to do the best I can with what I have. In this case it means I must hold my current positions. (SFS, OEI, PXD, GLBL, HOFF and KEG.) My reasoning for holding is obviously the NG play. If all of the news stories Tomas has posted are true, if His Dogginess (Big Dog), says there is an invisible crisis, if NG inventories are low for this time of year and NG prices high for this time of year, then perhaps there truly is an Invisible Crisis called Natural Gas. Like you, I'm holding! Like you, it is boring watching a teeny here and an eighth there. So, I'm off to the garden to do more weeding and planting. Come September, I hope I've made the right moves. Slider, your constant pounding about margin helped me save some dough. I took a few small losses which would have been much larger if I remained stubborn and refused to use a little common sense. The remaining margin will be used only when the Naz and Dow are clearly in an upswing mode. If I had additional capital, I'd join you in Techland. My goal is to rotate to telecom/cable/tech with the proceeds I earn when my current holdings hit my objectives and I cash them in. Meanwhile, (yawn) I'll have to remain a little nervous and tend to the yard. dabum

To: Think4Yourself who wrote (65308)	4/26/2000 3:30:00 PM
From: Brian	Respond to of 95453

OPEC again reiterates its $22 to $28 price band strategy, saying everything is going as planned! bloomberg.com Top World News Wed, 26 Apr 2000, 3:29pm EDT OPEC Chief Says Oil Prices Have Reached Desired Level (Update1) By Joshua Schneyer Caracas, April 26 (Bloomberg) -- OPEC President Ali Rodriguez said crude oil prices are where producers want them after new oil hit the market this month. Rodriguez said the Organization of Petroleum Exporting Countries is unlikely to make changes to production quotas at a meeting scheduled for June 21. OPEC members boosted quotas by about 1.7 million barrels a day beginning April 1 to cool prices. Venezuela, which took on a 125,000 barrel a day increase, has already reached its new quota level. ``The prices are going just as (OPEC) thought they would go,'' said Rodriguez, who is also Venezuela's energy minister. ``I think the June meeting will ratify the decision we made at the last meeting.'' OPEC members in late March decided to boost oil output and adopt a ``price-band'' mechanism to keep the price of OPEC's oil between $22 and $28 dollars a barrel. OPEC said its blend or ``basket'' of crude oils cost $23.40 on Tuesday, but it's expected to rise with the onset of the U.S. summer, when automobile use traditionally picks up. OPEC plans to automatically boost or cutback its oil production by 500,000 barrels a day if the 20-day moving average price leaves the band. Brent crude oil, which trades a few dollars higher than OPEC's benchmark basket of crudes, fell 42 cents, or 1.7 percent, to $24.91 on the New York Mercantile Exchange. Prices have fallen by about 30 percent since reaching a high of more than $34 a barrel on March 8. Quotas could be boosted again this year, as world oil demand grows by between 2 million and 3 million barrels a day, Rodriguez said. Still, he said an increase doesn't appear necessary for June. Oil prices that reached nine-year highs on tight supply in March, retreated so quickly this month that OPEC members spoke of repealing their new, higher quotas. ``The market right now is focused on the greater crude oil availability and we are continuing to price in that factor,'' said Tim Evans, senior energy analyst at IFR Pegasus in New York. The American Petroleum Institute said U.S. oil supplies reached their highest level since November last week, as producers increased supply in line with new quotas.