Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: SJS who wrote (17172)	3/30/1998 11:14:00 AM
From: Thean	Read Replies (3) \| Respond to of 95453

This is not the action I expected today, at least so far. On the other hand, this is the action I expected today. Slow move up after open and then profit taking. We have had similar price action for the past 2 sessions and with oil remains down, the drillers are not going upside like many hope here. The key to look for is oil breaking $17.5 and then $18 by tomorrow if you expect the drillers to go up 10%. If oil drifts lower, so will the drillers. Let's hear what OPEC has to say - I think the consensus is they are not going to increase any cutback already known to mankind. I say we will head lower before head higher and the timeframe is going to be 1 month. We possibly will get quite a few cycles of this before the drillers breaking above the current trading range when oil moves decisively above $18.