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

To: Jon Cave who wrote (37208)	2/10/1999 11:31:00 AM
From: The Ox	Read Replies (1) \| Respond to of 95453

I agree with most of your post but I wouldn't put a downside limit on the entire sector at this time. If oil prices fall another 20%, I would expect the sector to tank at an even greater %. This is not my prediction but I have my eyes open to the possibility. I factor in the probability that OPEC will continue to gripe and do nothing but point fingers at each other. Reading the recent posts on the US independent oil producers' woes is very enlightening. Right now it's the little guys who are getting crushed but as time goes by the trend is hurting larger and larger companies. 5 or 6 more weeks of negative information and news could do serious damage to this industry in the short term. JMO, Michael