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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 (31436)	11/4/1998 6:44:00 AM
From: SliderOnTheBlack	Read Replies (3) \| Respond to of 95453

Papaya; re: the ''light'' volume on crude futures... Our entire Rally here of late took place directly into the face of negative crude statistics and falling crude prices. The Street totally ignored the #'s - which totally surprised me; leading to this recent run. These numbers are once again negative; but the ''light trading volume'' perhaps (?) shows that even the traders are somewhat confused or don't have 100% confidence in the conflicting numbers between the API & EIA... It used to be that this sectors stockprices would move up & down directly in synch with crude prices. But, of late - this seemed to de-couple... If the current run-up in prices was based on future expectations of more positive crude prices; I will be curious as to how the street reacts to this today ???? The International markets are up - we'll see if this bouys the sector vs. the negative API #'s. The real story is; why - did the sector run up in the face of negative crude stats; and why would it suddenly retrace on more of the same...? How far out arre those positive expectations ? - I guess we will find out shortly...