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

To: Big Dog who wrote (26064)	7/21/1998 4:30:00 AM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

RE: CDG's $3 drop..... We have had numerous day to day swings in crude oil prices at today's levels and did not get a $3 CDG sell off or an OSX loss like today.The day to day swings of crude prices obviously are still (at least for now...) a proxy for this sectors prices. But there was not major news to a degree to impact the losses seen today, imho. My feelings were that it was more off of the SLB earnings release and a general rotation out of the sector by some fund managers as indicated by the big block on CDG mentioned earlier. All week I heard comments on how SLB's release would set a tone, either good or bad for the sector. While SLB showed decent year over year increases and met estimates; the street didn't see or hear what they wanted... or maybe as mentioned the API numbers coming are not good news...?