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

To: P.Prazeres who wrote (25448)	7/10/1998 7:28:00 AM
From: marc chatman	Read Replies (1) \| Respond to of 95453

<<Contest: Does the OSX make a new low today?>> Possibly. We may get the traditional Friday short covering, though, before the traders hit the highway for the Hamptons. On the other hand, the OSX has been making new lows in the face of modestly rising oil prices. What is going to happen next week if/when oil starts to drop. If the API numbers aren't good, I believe there is significant downside risk next week. August crude is up .08 to 13.95 this morning. Unfortunately, the morning rises the last two days have given way to afternoon fades. I don't recall any pre-earnings warnings for oil service stocks this month. I'm thinking earnings should be ok. It's the forward guidance which concerns me. Hopefully, these "New York business types" will have enough brains to create some positive spin.