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

To: Flan who wrote (15361)3/18/1998 4:57:00 PM
From: Lucretius  Read Replies (1) | Respond to of 95453
 
I don't think we're tredning lower. I'm just saying even if oil stabilizes around $17, after the short covering and euphoria about the rise in crude is over, the new big fear will be "will dayrates decrease anyway???" While this is not true, the mkt is likely to keep us in a trading range until the drillers report another blowout qtr, and show no signs of weakness.

-Lucretius



To: Flan who wrote (15361)3/18/1998 5:01:00 PM
From: Tulvio Durand  Read Replies (2) | Respond to of 95453
 
Richard Rainwater's bet on oil at $35 back last year was the one wrong bet he made. Nah! Just a bit premature. Oil will eventually climb to $35. Guaranteed! Tulvio


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