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

To: que seria who wrote (77643)	10/31/2000 2:02:43 PM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

Que Seria - Actually I don't disagree with LSS and the tubulars being one of the leading indicators for oil patch investors, but I disagree with his logic in this particular application. Typically an oil rally is stalled when too much production comes on line or the economy reverts into recession. The Majors have yet to substantially increase production of NG or oil. And the world economy while slowing is not going to suddenly revert into recession just yet imho. The dollar weakening and oil prices moderating will help the soften the near term blow. Greenie can also lower rates again. I'm not saying there isn't a credit or an equity bubble out there, but I don't think things start to fall apart until later in 2001 (I'll re-evaluate then). Slow growth is still growth. With OPEC's extra capacity now the smallest that it's been in 30 years we're going to need to do more drilling.