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To: GST who wrote (113135)12/21/2000 9:49:42 AM
From: Sarmad Y. Hermiz  Read Replies (1) | Respond to of 164684
 
>> I am buying puts on oil service at the open.

GST, I pasted a link for you to look at. Oil services are not now priced so outrageously high. In fact as long as oil stays in the $20's per brl, oil services will be very profitable. And as their old contracts expire, new day rates will be higher. Share prices of oil services are still 40% below the old highs of 1997.

Of course you've been so right about this down turn since september, I wouldn't presume to quibble with your instinct (or maybe it is logic ?).

"U.S. refined oil imports at highest in 10 years"

news.excite.com