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

To: Broken_Clock who wrote (26141)	7/21/1998 6:28:00 PM
From: VLAD	Read Replies (1) \| Respond to of 95453

No I'm not betting on it but I would like to point out that I think that soon institutions will be buying at these levels BASED ON EARNINGS GOING FORWARD 12 MONTHS and not based on the day to day price fluctuations of oil or the week to week changes in oil inventories. Is that point now or weeks from now? Nobody knows and if they did they would be rich.

To: Broken_Clock who wrote (26141)	7/21/1998 6:31:00 PM
From: marc chatman	Read Replies (1) \| Respond to of 95453

It seems like I'm the only one left who drives gas guzzlers. I'm going to start letting my cars idle overnight. I hope everyone else here is doing their part.

To: Broken_Clock who wrote (26141)	7/22/1998 12:50:00 AM
From: Richard D	Read Replies (2) \| Respond to of 95453

The API numbers may not be the news we're waiting for, but oil did close substantially up for the day (even with the pull back after the report came out). Perhaps traders will look forward, particularly to the heat just starting to hit the East Coast. Forward news always trumps old news, if only traders focus on it. It's kind of insane for oil to languish while Greenspan worries about inflation. The fact of the matter is that Asia has become an effective dampener on the US economy and will only lengthen the growth period in the U.S. We should just hum along with oil consumption, as long as recession doesn't hit. Of course, Greenspan is worried about inflation not recession. The weather appears to be cooperative going forward, for increased consumption. OPEC seems to be on track for supply cuts. And if exploration has been curtailed for the last few months, we may see a rubber band effect when demand does catch up with supply. It may not happen tomorrow, but it's a matter of playing chicken for those waiting until mid-August for an OSX rally. It's apparent to both the Bulls and the Bears that it's only a matter of when, not if, we go into a long term rally. Richard