I have a gut feel that we are on the verge of a "Humungous" oil bull market. Things are shaping up nicely. If this keeps up I'll be able to buy a gas guzzler and think nothing of it. How about posting some of your thoughts of where you think PKd will wind up at. Good luck. ezgreen
EZgreen....we are close to the average, 20+- 2.00, the low prices of 98' are at the extreme of the range, much like 80' was on the high end at 45.00.
Neither high or low is healthy, since growth demand for oil is rather inelastic (2.5 % a year). PKD is headed for 4.50 and later to 6.00, since all we are doing is correcting low prices. Hint: it was a "buy back at 12.00 on October 97'.
EZGreen...forgot to mention here is a neat site for your point and figure charts: dorseywright,com This eassy to read charts have been very accurate for me, all indications are we will test the resistance at 4.50 "today". To be on the safe side go ahead and place your order for a new VW Beatle, in case Khann's "Death Spiral" gets a hold of PKD.
FLC has kept up with NBR, but PKD hanging in there, DO and RIG seem to have lost their squeal. That's interesting because DO is growing at about 50% a year, and is widely seen as the premier deep-water driller.
I agree with EZGreen and MamboKing, the bottom is passed. It may be 25 years before we see these types of lows again if the Far East and China keep cracking. What dreams are made of: $3 PKD, buck-a-gallon gas, Khan's death spiral.
PKD came in second place in my little grease basket today! FLC + 11.25% PKD + 7.81% NBR + 5.18% SDC + 1.72%
I believe 4.50 is damn sure realistic and 6 bucks aint very far behind. I'm going to make a wild ass guess and predict PKD at 6.00 or better by June 15th 1999!! The old patch is comming back to life and contracts are becoming available to the drillers.Here we go fellas, another 3 to 5 year run for our money.GO > PKD > GO!!!!!
(OT) Had a pretty good laugh on how you guys handle your vermin problems, got a damn gopher problem myself. The Border Collie dog I have seems to think he's a Badger and if He finds a gopher hole the damn fool starts digging and wont stop until all you can see is about the last 3 inches of his ass sticking out of the hole!! I started dumping my used motor oil down the holes and it seems to work pretty well.If you dont over fill the holes it makes no surface mess,let it set a couple days, gophers have high tailed it out of there and you can fill in the holes. (but dont tell the EPA)
...the story about exterminating ants with an oxy-acet gas explosion! Of course, now there is a Federal law against even OWNING an explosive device like that...only hacksaws are legal! The FBI is on the ant's side now!