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

To: SliderOnTheBlack who wrote (43210)	4/25/1999 1:34:00 PM
From: SliderOnTheBlack	Respond to of 95453

Here's an excellent commentary on the ''reality'' of Oil Prices - Fadel Gheit - of Fahnestock is one of the Industries most respected analysts - a must read ! Message 9043866 here is a snipit - read the entire article ! << Fadel Gheit: We are not likely to see, especially in the large caps, a similar move to the upside. Actually, I downgraded Unocal, because it's up 41%. It's not an Internet stock. It still sells oil and gas. For a stock to go up 40%, unless there is a merger agreement or something, I don't see the fundamental support in such a huge jump. { hmmmm, sounds like locking in/taking profits off of huge gains '' is'' the game here} Statistics do not support $20 oil or even $18 oil. They barely sustain $15 or $16 oil. We are way ahead of that. The traders anticipate and extrapolate a trend into higher and higher prices. Ultimately, the pendulum will swing too far. >> ** now we have both the analysts and the Oil Majors saying that $18 crude oil is not fundamentally sustainable - ''yet'' ! Unless you are trading Oil Futures Contracts - this advice & commentary should at least be factored into a more aggressive profit taking stance in Oilpatch ''stocks'' imho.