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

To: Crimson Ghost who wrote (44791)	5/14/1999 4:00:00 PM
From: BigBull	Read Replies (1) \| Respond to of 95453

George, notice how for a week running, oil gets sold off in the morning and bought in the afternoon? The speculators are being washed out while the strong hands moving in?

To: Crimson Ghost who wrote (44791)	5/14/1999 5:35:00 PM
From: Jacob Snyder	Respond to of 95453

I'm back in. Bought some RIG at 27 1/8 today, placed some limit orders to buy more at 26 and 25, if we get that low. Doing this because: 1. RIG seems to have some support at about 25-27, lots of buyers step in at that level. 2. OPEC seems to be almost fully compliant with the production cuts, and I don't think this is yet fully priced into the stocks. Lots of scepticism out there still about OPEC self-discipline. When that fades, the stocks may go up. 3. Taiwan, Korea, Brazil seem to be bouncing back quickly. They don't look like they are going to stagnate at the bottom, like Japan has been doing for 10 years. This means more demand. 4. This is probably a temporary holding (a week to a month, limit sell order at 31), not a long-term holding. Does that make me a weektrader (slightly more respectable than a daytrader)? Or, perhaps, a weaktrader? 5. I'll sell the first time BiggestBull writes a post with 9 or more exclamation points in it.