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

To: lorrie coey who wrote (27650)	8/13/1998 2:14:00 PM
From: Joseph Beltran	Respond to of 95453

Man, this is truly one butt-ugly market. Absolutely no leadership. Smaller cap stocks keep getting hammered. like beating a dead dog. regards to all

To: lorrie coey who wrote (27650)	8/13/1998 2:54:00 PM
From: Mike from La.	Respond to of 95453

It is pushing things in the right direction and it shows that the Saudis are getting desperate. They, and the other countries have no choice but to support prices, whatever it takes. They are facing economic disaster, and political upheaval if they do not get their budgets balanced quickly. Look at what happens to any economy when it is running a large budget deficit. Things cave in. Don't look for immediate 50% gains, but I think this is the start of the reversal in oil prices. How fast, or how long it will take for them to climb is as hard to predict as when the bottom will be hit. But, definitely good news. Now watch for gasoline and oil in storage to start to drop, and for refinery utilization to rise. May take a while, but that will be proof positive of the start of a new up cycle.