News that the U.S. economy posted a weaker-than-expected 1.1 annual growth rate for the fourth quarter ... did not impact the oil-service stocks, which rallied by 1.8 (Friday) on the strength of better-than-expected quarterly results provided by Halliburton.
More Quotes from Jim Wicklund:
The market doesn't give these companies much credit because it's a non-recurring event.Jim Wicklund
The weakness in natural gas prices, having fallen from an extreme of 15 a current 7.50 with (more than) 60 of the winter heating season already over, provides risk of a natural-gas-inspired 'bump' coming over the next two quarters.
Jim Wicklund
It's hard for investors to believe oil stocks are worth investing in when the thing that drives the stock -- the commodity price -- is going to go down next year.
Jim Wicklund
Typically, when commodity price estimates decline, so do the stocks. These are dangerous times.
Jim Wicklund
We remain positive based on economic activity and EP spending we're also positive on 2007 but see some risk to EP spending given the potential squeeze on returns (with) a possible moderation in commodity prices in '07. Visibility remains too good to worry too early, however.
Jim Wicklund
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