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


To: Lazlo Pierce who wrote (12931)2/26/1998 12:03:00 PM
From: marc chatman  Respond to of 95453
 
Something could be up -- I don't know; or it could have simply built up a lot of overhead resistance. A lot of people got in during the run from 36 to 46 and probably weren't too happy to see it slide to the 30's again.



To: Lazlo Pierce who wrote (12931)2/26/1998 12:07:00 PM
From: Czechsinthemail  Read Replies (3) | Respond to of 95453
 
Dave,

Crude oil has been coming down froms its highs as have most of the drillers. We may have been through the manic part of the day and now may see more selling and profit-taking. If oil prices continue to drop we may see the familiar pattern re-enacted again.

Does anyone have details on the Merrill Lynch report?

Baird



To: Lazlo Pierce who wrote (12931)2/26/1998 2:05:00 PM
From: SJS  Read Replies (1) | Respond to of 95453
 
I don't know exactly. We came out of the chute hard today. NE is still way off it's opening, as are many others.

But, I like that we're up and like that new money is coming in. I've seen big blocks on the bid side for GLM, MDCO and RON.

I think we've got a technical bounce due us, and it will continue if there's sabre-rattling again OR the OPEC rumor of a special meeting to curtain production is real.