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

To: upanddown who wrote (70956)	8/15/2000 5:42:58 PM
From: ItsAllCyclical	Respond to of 95453

You're right API's are not that bad, but many bought OSX recently in anticipation of another surprise draw. Tomorrow's action will be very interesting to say the least. What catalysts do we have? 1) Sept OPEC meeting 2) Political disruptions (possible, but not counting on it) 3) Increased Cap Ex from Majors (we just had announcements so I don't expect any more until Q3 or Q4) 4) Revisions to earnings forecasts (possible, but more likely after Q3 reporting) 5) Weakness in broad market (not likely if Greenspan holds rates this tues). 6) Negative catalyst (more builds in API #'s the next few weeks). I guess I see a trading range for the OSX around 110 to 130 until we near Q3 reporting as being the most likely scenario. To what extent will the laggards such as PGO, KEG, UFAB, WG, OII, GLBL, NSS follow the OSX though? KEG reports next week. It could buck any trend. Oh well wanted to accumulate more tubulars and drillers and now it looks like I'll get the chance.

To: upanddown who wrote (70956)	8/15/2000 10:02:45 PM
From: BigBull	Respond to of 95453

John, thanks for highlighting the API's revised revision denial denials. All these guys are really doing is squaring their numbers with the DOE's numbers of last week. The DOE had the crude stock numbers at around 286. Just under actually. These latest API numbers remind me of Watergate. If these guys are going to start having press conferences, I recommend Ron Nessen or maybe Al Haig be the front men or bag men or whatever. I know - John Dean! Maybe Mo Dean! No - Ive got it, a tag team - G Gordon Liddy and the Ghost of Timothy Leary! They be trippin'. ;o}