Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: The Ox who wrote (30989)	10/21/1998 3:36:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

EIA news ???'s & the move on crude oil today.. Today totally leaves me dazed & confused, but on the positive side for once... Ohhhh to leave money on the table. Where were the buyers earlier in Sept when we had better crude news and more positive price momenteum ? Is the street sensing that the bulk of meaningfull tax loss selling is done here, or is it just the flow of cash into mutual funds that has to be put to work here ? I can not believe that crude moved this well on the EIA news. Had to be tremendous short pressure here of late; which was why I could not figure out, why the price of crude had dropped so severly here of late; in light of the lack of negative news... Now the answer is clear; traders were heavilly short anticipating bad news; they got mildly (?) positive news, or at least ''not'' bad news and covered shorts here spiking crude up today. This totally surprised me here. I also do not understand this move in the OSX today... obviously Institutional managers putting money to work here... Between the EIA & API conflicting numbers - predicting Crude's move here is impossible ??? I guess the ''play'' is to be here; knowing that 6 months out the odds are great that equilibrium will return to crude's supply & demand equation. I'm still expecting a retracement here, but hope I see support, backing & filling and a move continued forward... We are in interesting times in the old Oilpatch .