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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: chowder who wrote (19830)	3/6/2003 5:17:07 PM
From: jim_p	Respond to of 206097

Brother Bum, Drilling is getting ready to explode!! The landmen in Houston can't keep with the work coming in. Just three weeks ago they were complaining of not having enough work and now they are swamped. After not leasing any mineral for over 3 years, I've closed on 5 leases in the last two weeks to OEI, APC and several other independents. Things are looking up for OS activity finally. Jim

To: chowder who wrote (19830)	3/7/2003 8:08:59 AM
From: wildandwonderful	Respond to of 206097

thanks for your detailed reply dabum <<In a trendless market, you have clearly defined trading ranges. The type of trading ranges that Tex referred to by mentioning channelingstocks.com. (I hate their commercial, but their message is very valuable to those with an open mind and the ability to change strategies as the market changes.) In a trendless market, you buy in the lower end of the trading range, sell in the higher end. We are currently in the higher end of that trading range with regard to the OSX. This isn't the place to take a position unless you're looking at capturing one or two day moves in the price. The fundamentals for the OSX may be excellent, but what good is that if we don't break out of this 200 day trading range?>> looking at the charts, I see 86 OSX as the floor and 92-93 OSX as the ceiling,so when OSX bounced off 86 and the late buying the day before, tells me institutions are finally stepping in.Therefore the odds were greater we will go higher yesterday. <<>>> Fitzgerald said a solid break above that line would "extremely bullish" for oil service stocks, and target gains for the index to as high as 160. But what will become of the index, if crude futures fail to keep rallying? Is the potential gain worth the downside risk? <<< I would agree with Fitzgerald if oil was the only component in the index. He has forgotten Gas plays a major role in the index. Gas Futures are rallying.Based on yesterday's rally in the OSX, we should test 92-93 range again. In my opinion it is still a low risk high reward play up to that range. Fear of war and hope of cheap oil has disconnected OSX from the commodity prices. when Fear subsides and Greed overtakes then and only then will OSX fly.