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: jim_p who wrote (72700)	9/8/2000 12:18:16 PM
From: ItsAllCyclical	Read Replies (2) \| Respond to of 95453

>> Great day to buy. << I think you're early. Whether or not the shorts are right remains to be seen, but you will see more longs protecting profits in front of the OPEC meeting. I also think you'll see more shorting. The longs and the shorts may cover/buy back quickly, but I don't think we've seen enough short term capitulation. Even a lack of buying (which we may be seeing today) allows the shorts to move these puppies. The main thing that concerns me about this latest oil move is that is came about mostly from crude moving from $27 to 35 (as opposed to increases in cap ex, earnings etc). At the very least crude will probably consolidate in the low 30's before it tries for $40. I have my shopping list handy. If I'm wrong I'll simply be forced to go further down the laggard ladder (but there's still enough options).