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

To: The Ox who wrote (30951)	10/20/1998 6:42:00 PM
From: Gameboy	Read Replies (2) \| Respond to of 95453

API numbers posted on another thread messages.yahoo.com@m2.yahoo.com Washington, Oct. 20 (Bloomberg) -- U.S. crude oil inventories declined by 0.290 million barrels to 327.9 million barrels in the week ended Oct. 16, the American Petroleum Institute said in its latest weekly report. The latest API figures show U.S. crude oil inventories are 26.85 million barrels up compared with the same period a year ago. U.S. gasoline inventories increased by 0.384 million barrels to 199.3 million barrels week on week, and were up 1.611 million barrels compared with the same time a year ago. Distillate stocks, which include heating oil and diesel fuel, were down 2.368 million barrels at 147.1 million barrels compared with the previous week. Against the previous year, distillate inventories increased by 11.0 million barrels, the API said. Residual fuel oil inventories stood at 38.1 million barrels week ended Oct. 16, down 0.226 million barrels from the previous week. Residual fuel oil inventories were 36.7 million barrels the previous year.

To: The Ox who wrote (30951)	10/20/1998 9:20:00 PM
From: SliderOnTheBlack	Respond to of 95453

A conversion of Bears & Bulls.... middle-ground or no-mans land ? ...interesting place that we find ourselves at; here in the Old Oilpatch. The Bears learned that the Oilpatch was oversold, they learned that a bottom was established; not once - but twice. They learned that this sector's individual stocks can move 20-30-50% or even double; in a matter of days or a few short weeks. I also think they now respect the upside - which dramatically dwarfs the downside. They also, very, very badly want to own these stocks. They also, thanks to Mr. "G's" - terriblly swift sword; learned that they should not short these stocks at these levels ... The Bulls, realized that what goes up so fast, can come down just as fast. They realized that it is very important to be a stockpicker here; there are winners here and there are losers; and sometimes it ''aint'' easy telling them apart. One can NOT just throw darts to invest in ''this'' Oilpatch, can't just buy accross the board - yet. The Bulls also realized that one has to pick his spots to buy and hold; and that ''averaging in'' is the way to buy these stocks. They learned that yes, the market would buy these oversold stocks; but only to a certain level; from there (or here ?) - ''it is the price of crude - stupid'' ! A few, have also realized that the upside here is in ''trading.'' Trading is not for everyone; however - when given lemons, make lemonade; right Big Dog ? When given volatility, when given established trading ranges; TRADE ! Use the infamous ''Bobby Knight'' method; when its inevitable -take what is given & don't fight it - lay back & enjoy it ! <VBG> ... ....now pleeeeeeze; just one more chance to buy/trade RIG/RON in the low to mid $20's ! Something tells me - I may just get my wish...