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: mph who wrote (21591)	5/6/1998 6:57:00 PM
From: 007	Read Replies (1) \| Respond to of 95453

Beware, mph is really the Q from Star Trek. <ggg> eom

To: mph who wrote (21591)	5/6/1998 6:57:00 PM
From: pz	Read Replies (1) \| Respond to of 95453

LONDON, May 6 (Reuters) - Oil prices fell further on Wednesday as traders looked vainly for signs of renewed producer action to trim surplus supplies. Benchmark Brent for June loading was trading at $14.46 a barrel at 1536 GMT, 18 cents down on the day. The downward pressure was exacerbated by bearish stock data from the key U.S. market, which revealed big rises in both crude and product stocks. Oil prices have been under pressure all week after ministers from Saudi Arabia, Mexico and Venezuela disappointed market expectations that they would meet to discuss further output cuts. A secret Riyadh meeting between the three ministers in March laid the ground for a groundbreaking pact between OPEC and non-OPEC producers that pledged to cut back some 1.5 million barrels per day (bpd) from April 1. Traders are now poring over output figures to see if producers are living up to their promises. A Reuters survey of April output released on Wednesday found that OPEC producers - who committed to cut some 1.25 million bpd - had gone some, but not all, of the way to meeting their promises. The 10 member nations who pledged cutbacks together shed some 900,000 bpd of output, or 70 percent of their pledges. Saudi Arabia and Venezuela, at loggerheads before Riyadh, both moved quickly to meet their lower allocations. Libya, the United Arab Emirates and Algeria were all notable in lagging declared cutback targets, while there were question marks against Iran, Qatar and Indonesia. OPEC also got an unwelcome boost to its April production figures from a 300,000 bpd output rise by Iraq, which was not party to the cutback agreement. The market's stubbornly bearish mood was intensified by figures from the U.S. Department of Energy (DOE) which showed a massive 2.2 million barrel rise in crude stocks. The U.S. gasoline market - which guzzles some 10 percent of all world oil supply - saw a 100,000 barrel rise in stocks, according to the DOE. A strong U.S. gasoline season is seen as crucial to reviving world oil prices which are still hovering near nine-year lows below $12 hit before the Riyadh agreement. Prices in dollars per barrel: May 6 May 5 (1536 GMT) (close) IPE June Brent 14.46 14.64 NYMEX June light crude 15.23 15.47

To: mph who wrote (21591)	5/6/1998 7:23:00 PM
From: NucTrader	Respond to of 95453

Entry point on VRC Don't enter VRC tomorrow.......

To: mph who wrote (21591)	5/7/1998 1:14:00 PM
From: RGinPG	Read Replies (2) \| Respond to of 95453

I'm not sure how low it will go, but looking at the stochs, the down cycle will be over in 3 to 5 trading days. It would have to stay above 27.5 to continue the pattern of higher lows. If you can pick it up at 28 or below, I bet it will be a good trade. If I were going to buy more, thats where I would get it.(I've already maxed out on this stock).