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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Ditchdigger who wrote (15374)	5/4/1999 12:10:00 PM
From: j g cordes	Read Replies (1) \| Respond to of 29382

Hi DD.. the XOI index broke above last years April high, but the best of breed exploration companies like SLB and HAL have only retraced half of their drop. Its true also companies like CHV and XON are hitting new highs. So I'm wondering if the scenario that's unfolding goes something like this. The oil asset companies are seeing appreciation of their commodity which is reflected in their price/reserves calculation. However, the exploration and drillers are seeing price excitement activity, not new business activity. There's also some bartering going on in that sector of strong companies buying up financially weakened companies. I'm thinking this might be a spike that fails to hold into June and July.. Jim