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Re: Fred Kadiddlehopper post# 78387

Tuesday, 09/16/2008 6:05:20 PM

Tuesday, September 16, 2008 6:05:20 PM

Post# of 107353
i'll take picks and shovels in energy over smoke and mirrors in financials, that's for sure. :) many pundits have noted that recent weakness in the crude oil trade has been, in large part, due to liquidation of LEH's positions and the domino effect from that unwinding.

meanwhile conflict rages in nigeria, platforms and pipelines in the gulf could be damaged for months to come, and while global demand will ebb and flow, the bottleneck for exploration is real and getting worse all the time. oil services can't miss a beat while they continue to take new projects online.

odd as it may seem, $WTIC is actually down on the year now, and when bubbles pop they often over-correct to the downside. time will tell if this is the bottom yet, but today the oil patch was starting to show a bit of green. here's a random sampling of just a few names:

http://stockcharts.com/charts/candleglance.php?DPDW,SLB,BHP,ACGY,PBR,CAM,APC,RIG,DVR,VE|D

Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
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