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Politics : Ask Michael Burke
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To: Joan Osland Graffius who wrote (67977)9/21/1999 3:47:00 PM
From: Tommaso  Read Replies (1) of 132070
 
Yes, even my oil royalty trust stocks are down today, and they are nothing but pure oil plays, tied strictly to the price of oil. Of course they are up something like 80% for the year, but to go down with oil up is nutty.

But that has a limit. If the yield shows at 20% a year, the price will certainly reflect it.

So the Dow is down 260. According to things I have been reading recently, the genuine on-balance buying of American equities has been by foreigners. Maybe they are starting to sell.
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