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

To: waverider who wrote (16454)	3/25/1998 10:28:00 AM
From: Ms. X	Respond to of 95453

Y'all said I should post if I had something. Comment from bullish Tom Dorsey. His explanation for being bullish on oil and oil service... "...The price of Oil had come down significantly. The sectors were two of the lowest in the distribution. Through good research and with the right services, I knew that the Saudi's had brought Venezuela and Mexico to their knees. They were at that time pumping oil at a loss. Saudi Arabia is a $1 producer while Venezuela is somewhere near $10. Once Venezuela was brought to their knees we knew, through our research, that they would turn off the spigot. The irrefutable law of supply and demand would kick in without a doubt. Chevron chart was in a strong uptrend and had not given up at all in the face of $12 oil. Texaco had an exemplary chart. Many of the oil service companies charts looked very good. Add that to the fundamental data we had and you have a high probability of success. We were simply lucky they popped the day I was on CNBC. We are thinking much more long term. If the Saudi's are successful in roping in the cartel, then you will see Greenspan raise the discount rate to 5.75%. No one will believe us when we suggest this in the near future, however." Tom.