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

To: SliderOnTheBlack who wrote (65462)	4/28/2000 2:15:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

TX sub $50 - down near $3 off of huge earnings release - ...whats wrong with this picture ??? This should be a $70 stock right here. I reiterate - it makes me nervous when the "true" BIG money & Smart Money - where inflows & outlfows dwarf entire market caps of some of our companies here; in the Oil Majors are acting this "skittish" with crude & gas where they are ???? Not far from a 52 week low - TX is leveraged to the E&P vs. chemical side - it should be leading the pack here.... ...maybe the Kudlowites are working behind the scenes...? Doesn't make sense ?

To: SliderOnTheBlack who wrote (65462)	4/28/2000 5:05:00 PM
From: BigBull	Respond to of 95453

Ivan? It's good! I like it! I'll use it! You'll go far, son. Now don't be callin' me no Yooophonic there just yet, bubbalooo. <g> I still got me lotsa cash money in my pockets. That ain't no boooollsh_t neither. Damn, missed ole HOFF, got SDC though. ;o} Seriously, all your points are good ones and worthy of serious consideration. For now, OSX 120 seems to be "The Wall". However, I do note a series of rising bottoms, along the lines of the 50 dma. Could be explosive if the pattern breaks to the upside. The technical upside target would be 140 minimum. Hmmmm. What I really like is the fact that the OSX has held up so well in spite of having everything but the kitchen sink thrown at it. I just can't help but think that's bullish. So far, it is ignoring bad news and paying attention to good news. That is the hallmark of a bull market, my friend. But, who knows, maybe that majic number of 320 mb IS the kitchen sink. I DO have a question about some of the conclusions you've drawn from that 320 number, though. Was 320 crude also accompanied by rising product stocks? If so, then the current situation is entirely different, is it not? Is that what the futures traders are seeing, here? The EIA has stated that refinery runs need to get to 98% of capacity to meet gasoline demand this summer and that they needed to start ramping weeks ago. They characterised the needed effort as an "Heroic" one, if I recall. Hasn't happened. Why? Michael Happell's earlier post today may hold the key and give us our answer. Downed refineries due to deferred maintenance. That Venezuela news was a real stunner as it appears that major refinery will be down a good long time. Do you remember what the upstream v downstream allocations for funds looked like during Capex announcement season? E&P got the lions share while downstream died on the vine. Are the chickens coming home to roost? If they are, we could be on the cusp of a major league story in the energy markets. That being; America is desperately short of available refining capacity. AT THE VERY LEAST, the refining ramp is way behind schedule, no matter WHAT the reason. Higher gasoline prices are baked into the cake at this point. Soooooooooo, it becomes very hard for oil bears to spin the glut case in the face of a gas, diesel, and jet shortage, does it not? I mean, everbody and his brothers uncles cousins dog understands gas prices, right? Ain't rocket science here, imo. Does $22 crude count, next to $1.50 gas (basis FUTURES)? Speaking of majic numbers, that 1973 majic number keeps popping up doesn't it? 1973 wasn't just about the embargo. 1973 was a time when demand was outstripping available capacity. The embargo only made a bad situation much worse. Big time! Maybe what's REALLY going on here is NOT Kudlowesque "tales from the SUPPLY darkside" at all. Perhaps it's Big Dog's "Phantom Menace"/Invisible Crises? Is Darth Kudlow ready for the high demand/low capacity Phantom Menace? Meesa no tinks so! May the rigs be with you. <g> Jar Jar Ivan Bullsky Binks. ;0} and his good buddy Big Obi Wan Kenobi Dog.