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

To: chowder who wrote (95109)	1/15/2002 7:25:02 PM
From: kodiak_bull	Respond to of 95453

Sheriff, Thanks for the deputization but this town seems just about plum cleaned out of varmints and I'm thinking of moseying west. Need some elbow room. As for energy, it was hard for me to think of any position in any driller except for a short. I never could figure out how people thought 79 or 80 was a good number, given all that was going on. Certainly the charts agreed, so I guess people who loaded up did so on fumes or a very long term outlook. E&P's looked even worse to me, because you could at least make the case for some drillers (RIG, DO) that they would find work, whereas the land drillers should be (and were and are) idling rigs left and right--for the E&Ps (which I tend to think of as a code word for gas exploration companies) were sitting right in the bull's eye. No rigs working, big hit to earnings, coming right down the non-superhighway--that spelled bad news for the drillers. Record gas storage, recession--couldn't be worse for e&p's. NEM keeps motoring higher. Funny, ain't it, making money in gold and I couldn't tell you the difference between lease rates and long distance rates. Just luck and a little glance at the charts. Last question is, which is stronger in determining HOFF's future, API vs. FIBONACCI? We shall see, Kb