Wednesday, August 03, 2005

Oil Services

this is something you dont see everyday. GEOI opened strong since NYMEX crude climbed to $62 a barrel. however, inventories were announced today, and the price of crude quickly droped $1 to $61. this caused a prompt sell-off in GEOI and some other companies in the oil services sector such as ABLE and MPET. i started looking into the oil sector because i was sick of the swings in biotech, but it looks like these stocks behave the same. on the other hand, ENG has been ripping for the last week. it climbed to a new high, gaining 100% since i profiled the stock a month or two ago. amazing.... i wish i had gotten in on that stock. i had no money at the time to play ENG, but at least i have a ton of ENG in my fake marketocracy account, which is doing great thanks to ENG. finally, i wanted to mention that the site will be moving to a real domain and a real webhost in a week or two. i've already bought the domain name and webhost server and i'm in the process of configuring the backend software. the new site will have a new name because is just too long to type. also, the new site will be powered by WordPress rather than blogspot. wordpress is a lot more robust and customizable, so the new site will be good. so yeah, the new site is coming in a few weeks!


Anonymous Anonymous said...

You're starting to grow. Good. I'll be looking for the new site and following your progress. Lots of luck.


8/04/2005 04:12:00 AM  

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