Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Roebear who wrote (92849)	7/28/2001 11:03:13 AM
From: Tommaso	of 95453

This seems like a timely warning against trying to pick up "bargains" later this year from tax-loss selling, should that develop: Message 16138130 I think I am as bearish on the general market as anyone on this thread. Very large positions in Prudent Bear Fund; in LEAP puts on the Dow (these seem a terrific value to me); short position in QQQ. I am also betting heavily against the dollar: gold, silver, Euro warrants, and BEGBX (European bond fund). I realize that the last mentioned are highly speculative, but at least it's not futures contracts--and my view is that the true reckless speculation is on the other side, the capital that's flooded into U. S. markets. But unlike some here, I am more afraid of missing the long term bull in energy than in getting caught in a continuing energy bear market. I think OPEC still has its act together, and that they will keep a solid floor under energy until the really bad shortages kick in. Gasoline at $1.18 a gallon forever (as I saw it yesterday)? Dream on, SUV owners!

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