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

To: JustInTime who wrote (22833)	5/21/2003 12:02:38 PM
From: John Carragher	Respond to of 206093

got upgraded yesterday or today .. subject major oils undervalued , just like you said have not moved up .

To: JustInTime who wrote (22833)	5/21/2003 12:18:07 PM
From: chowder	Read Replies (2) \| Respond to of 206093

XOM is in a very narrow trading range at this time because of the huge amount of overhead supply directly above the current price. In the world of pricing, it's always a matter of supply vs demand. There is plenty of supply above, the question is can we see a huge enough amount of demand to overcome it? As strange as it seems, XOM isn't a buy until it heads a little higher and works through that supply level. Around 36.85 is where you should see some of that selling pressure relieved and it would be a good place to confirm higher highs off the recent narrow trading range. Otherwise, you're buying at the high end of a price range without the volume to support prices going higher, at least to this point. The situation could change and I'd change my mind with it. dabum