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: Thean who wrote (20733)	4/28/1998 10:24:00 PM
From: Thean	Read Replies (2) \| Respond to of 95453

API number released after close today said Crude inventory rised more than expected. Distillate inventory fell more than expected. Gasoline also fell more than expected. Good Demand seen. Net, neutral. After hour crude moved up 3 cents. Pretty muted. Ron - I think we are close to below 20% (at least the shorter line) in your stochastics now. Some stocks may even be below 20%. If the market continues to struggle the next two days and the drillers remain neutral, we should be ready for a crossover by Friday. Short terms I believe we have gone passed most of the correction but we may not head up strongly just yet. The only nagging thing that can ruin the next bull party is the overall market tanking. Crude seems to have found good support and base built at around $15-$16 where we are. We should continue the slow climb with an upward bias on the right side of the U from now till the next earning season. Don't expect a rocket straight up. We should get an average of 1.5 short term cycles every month for the next three months. For land drillers, play both UTI and PTEN for the maximum yo-yo and mo-mo. Want a sleeper with pretty good base support - try GW.

To: Thean who wrote (20733)	4/28/1998 10:37:00 PM
From: Big Dog	Read Replies (1) \| Respond to of 95453

I'm with ya TYY. I stand ready to write some juicy calls. Maybe some 45 or 50's. I will do some research on prices tonight. Steve, any observations on this? FGII is now past the point where the stock split. If ya'll recall, it split at 78, post split 39. Not too many people should have losing positions in FGII now. I don't know what that means for the future of the stock, but it is an interesting observation. The 52-week high is 48, so maye a few folks bought between 42 and 48, but they have likely sold out long before now. Technically, what is your opinion of the stock action when and if it breaks the 52-week high? I can tell you that FGII has a lot more "stuff" in the wings. They aren't resting on their haunches. I read on the FGII thread -- where Teddy is posting -- that FGII was trading at 48 on instanet. Anyone have a way to check that? Steve, looks like my Aug. 30 puts on FGII are getting fairly safe...too bad I have to wait to August to snag the $$$. My office partners are at dinner tonight with the head of MDCO. Maybe they will learn something of interest. big pup