Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: isopatch who wrote (252)	8/20/2001 5:10:01 PM
From: Paul Shread	Read Replies (2) of 36161

Iso, I think we'll revisit the 10-98 lows on all the indexes, perhaps as soon as this October or November, and I wouldn't rule out a target of 1100-1200 on the COMPX, given the damage there. There's a major cycle turn coming in December, so it's possible that the bulk of the damage could occur next year. I'm open to the possibility that we could hold the March/April lows, but I don't see that happening unless there's some sign that the economy is bottoming. On the other hand, I don't know when it's going to sink in that the economy's not going to come back at anything like its growth rate of recent years. I also think it's possible that the economic damage could ultimately be very surprising. What are your targets and timeframes? Didn't pick up GLG today, but I did notice it down there. PM charts are a little shaky here and the stocks need to turn up soon, IMHO. Still holding GOLD and HGMCY, and am sitting on my hands trying not to chase UTX. ;-) With the caveat that it's early and they could be negated with a strong move to the upside, we got some old familiar friends in the indexes today: cache.wsrn.com cache.wsrn.com cache.wsrn.com Best, Paul

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