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To: SJS who wrote (7721)	3/10/1999 10:40:00 PM
From: The Ox	Read Replies (1) \| Respond to of 14427

Not sure about 80 on CAM, but it wouldn't surprise me to see the stock trade in the 30s for the rest of the year. Watching oil prices go up 25% in a few days makes one expect a backfill move but also shows how quickly things can change. Since the patch has had so much negativity lately, I wonder if another down draft will snowball into an avalanche? A 25% move in crude prices is VERY inflationary and I wonder if we should expect much more at this time? I will say this, if OPEC and Non-OPEC members get the hint, an announcement of very large cuts could be very profitable to them. Throw out a very high cut for a very short period of time with an agreement to reevaluate in 4 or 5 months. Something like this could shock the oil market and possibly ensure that the higher prices will be sustained. I can only dream about CAM at 80......seems almost impossible Anyone buying Gold stocks these days? I bought ANIC at $6.50 2 weeks ago and today it closed at $8.50. Last 4 days the stock has gone straight up. It might be worth a look. My short term target is $11, as I believe the fundamentals support this price.

To: SJS who wrote (7721)	3/10/1999 11:44:00 PM
From: Thean	Respond to of 14427

Steve, it is only human nature to think of those lofty numbers like CAM 80 and GLM 36 after a long period of severe depression. Mirage. Pipedream. It will take >$20 oil for these companies to get there. The key factors that drive the driller stocks are 1) oil price, 2) sentiment, 3) TA, and 4) company fundies like in balance sheet. Right now factors #1 and #2 are wildly bullish. I have not seen buying frenzy like this since last March on the same ole' OPEC event. I look to short them after they run out of steam here. Not tomorrow though. If we pull back tomorrow and the day after with oil giving back $0.50, I would not short. I think they have more to go leading up to march 23 and maybe even further if OPEC + Norway + Mexico really announce a greater than 1.5 million barrel cut. Oil price will not tank big prior to the OPEC meeting. Papaya - you were wrong in saying things went south immediately after the OPEC announcement. No. The drillers went on for 6 more weeks post OPEC announcement as oil price remained above $14 for that many weeks after. Oil peaked at I think $16 1/2 somewhere in April/May. Anyway, sentiment really favors the mo-mo mentality now and it has been a while when they go up 15% across the board in one day. Life after OPEC will gets very nervous and if these drillers stay high till then, stop loss orders are definitely called for.