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

To: Evolution who wrote (87922)	2/21/2001 2:05:16 PM
From: SliderOnTheBlack	Respond to of 95453

Evolution - re: PGO ? ... that meant - @ for "at" - * for "what" - # for "price" - ie: "at what price" !? ... I was asking jimp - was he in, or out & at what price ? (if sargeK was still around - he'd of cyphered that !) I bought PGO heavy for a levered DCB trade on the prior dip into the $8's & per my prior posts; flipped it into strength and flipped it all over $9 & stopped out - along with my other OSX holdings. I made about 6-10% on the trade - I'll take it in this environment. As far as today - I'm on "watch" - watching the intra-day tape - maybe timelord can give us a mid-morning water cooler blow off vs. lunchtime reversal TA babble-take (VBG) ? Personally; rather simply - I'm watching for a block trade led (10-25K+ buys)intra-day reversal on OBV/Money Flow. Right now; it's a falling knife - $6 wouldn't be unreasonable if a couple of fundies just throw in the towel & one needs to realize they can use the PGO loss to offset the other recent OSX positive moves. PGO is a home-run proxy bet on the Oilpatch Cycle continuing strongly into 2002 - its the easiest double & a probable triple+ if the cycle expands. If not - surely a potential takeout here if it see's $6 & it's not cash flow negative here & is closing some asset sales. I don't see PGO going under anytime soon - so the downside is limited & that can NOT be said about too many laggards here - not FGH for example... Do I like PGO for a "trade" here ? update: - not looking too good so far - a 99K throw in the towel - trade just passed by... not yet. - bet your ass I do ! The FPSO component should not be ignored & remember; VTS was perhaps the Mo-Mo star of the late cycle rally in the spring of '98 & PGO did well on its own; seismic is late cycle & there is a lot of drilling prospects that need to be generated to meet the coming increased cap ex commitments allready announced - that's a biggie for the seismic plays here. - remember the recent comments of one CEO about the depletion rates in NG - at least being partially due to the lack of top tier drill ready prospects... ie: they have the leases, but not the seismic to identify drill ready prospects. ... I'm in - as soon as we see an OBV/Money Flow Technical reversal - no mid-morning coffee break-lunchtime reversal needed - just follow the money flow/OBV. Surely an interesting DCB play - just a matter of re-entering @ $7.90, or at $7.25, or $6.80 etc... And Tomasso; I can't find the damn symbol for lithium ? Is it a biotech ? ;) ... not looking good here; a 99,000 share "throw in the towel" sale/trade just crossed at $7.85 - ouch ~ - patience; I'd rather catch it a tad late" at $8.25 on a nice volume reversal; rather than enter a tad "early" and then be run over by a series of block trade sales.