FVDB

oil service breakout (52 week highs)


Posted by: escott on June 11, 19103 at 14:35:21



Hmmmm..... IMHO, key shove needed to get .osx back over 101 are found via politics.... In the posts I made on the main thread (that got deleted), I noted Lehman et. al. were downgrading oil names last week on their politically laced ASS-U-ME-ption that the Raaj now ruling Iraq would bring lower oil prices someday soon.... Ain't a gonna happen.... (for eminently POLITICAL reasons folks)

The shorts who followed Lehman got a shock when Alan Greenspan yesterday (and he too ultimately is a political creature :} ) warned of looming natural gas crisis - and its got no easy short term fixes....

What a double-whammy set up for .osx and .xng lands.... shot squeeze city.... Last chance for them will be if natural gas inventories somehow come up bigger than expected soon.... and that too isn't likely....

Cheers

es


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