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

To: marc chatman who wrote (23468)	6/4/1998 11:00:00 PM
From: Lazlo Pierce	Respond to of 95453

It seems to me what this round of cuts tells us, is that Saudi and the biggies are real serious about raising the price of oil. For them to do this, this quickly after the last round when it became apparant the last cuts weren't enough is a signal. They made their cuts unilaterally, and will twist arms later this month at the main meeting. If the price doesn't hold, they will make more cuts. It seems to me that $15 will become a floor price, and at $15, these stock prices on the drillers are a bargain. I think funds and shorts will buy, and though it'll be choppy, I think we should see 120 on the OSX by August at the latest (actually hoping for early/mid July), especially if summer demand is high and the glut starts getting worked off. Dave

To: marc chatman who wrote (23468)	6/4/1998 11:00:00 PM
From: joe smith	Respond to of 95453

marc, thats why is was hoping we could make it to 103 today. that wouldn't be that big of a jump. i believe we will have some nice follow thru tomorrow. if we can punch thru 105, then the mo money and technical money will come pouring back in. the markets are getting ugly. i think we may see money coming in from other sectors as well. drillers are value plays at these levels. heres to more green, js