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Petroleum Geo Service ASA (PGO) Message Board

  • evak47 evak47 Mar 26, 1999 8:16 PM Flag

    What gives with PGO.

    All oil services up 4-13% and PGO down .

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    • It became moot today, when I sold the last of my
      PGO. If by "catching up," you mean it didn't go down
      as much as many others, I guess that is right. I
      have not liked the way PGO has been moving, and would
      feel more at ease with FGI or RIG. I was happy to make
      a profit, although not what I expected when I
      bought PGO.

      The question, now, is whether or not
      the sucker's rally is over, or whether the sector is
      just falling back for a new run. You should know by
      tomorrow afternoon. If a new run, it may go to 22, then
      fall back again. If we can get nice waves like we had
      last fall, we could make some money!

      Good luck
      to you.

      Wile E.

    • It bacame moot today, when I sold the last of my
      PGO. If by "catching up," you mean it didn't go down
      as much as many others, I guess that is right. I
      have not liked the way PGO has been moving, and would
      feel more at ease with FGI or RIG. I was happy to make
      a profit, although not what I expected when I
      bought PGO.

      The question, now, is whether or not
      the sucker's rally is over, or whether the sector is
      just falling back for a new run. You should know by
      tomorrow afternoon. If a new run, it may go to 22, then
      fall back again. If we can get nice waves like we had
      last fall, we could make some money!

      Good luck
      to you.

      Wile E.

    • I think we had one big seller getting out of the stock....I sure hope it's nothing else, I bought 7000 shares today....

      • 1 Reply to rsayrewv
      • PGO was off in Norway, before the bell on the
        NYSE.

        Other stocks had shown smaller daily
        increases, with weakening volume. Volume and prices were up,
        again, on Friday for most of the others.

        PGO
        could be the belwether, for another drop back to
        previous lows, or it could be lagging, and may rise on
        Monday.

        The artificial increase in oil prices
        because of an agreement between convicted cheaters is not
        enough to keep prices up. This is probably a sucker's
        rally, and will top out. I am long on PGO, but reduced
        my holdings in PGO by approximately 65%, his last
        week.

        It is anyone's guess how far this rally
        will go, but the fall back down seems likely. For the
        longer term, I think we will see $18 oil by the end of
        the year, and PGO will be a stellar stock to own,
        even buying at the present price.

        Wile e.