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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: marc chatman who wrote (52709)10/8/1999 7:08:00 PM
From: Crimson Ghost  Read Replies (3) of 95453
 
Maxwell is a contrary indicator. I recall he said he would short crude at $16 on the way up.

This is the day I have been waiting for. Big drop in cride but OSX regained most of its losses. With poor 3Q earnings to start coming out soon and crude likely to remain in a trading range around $20-21, I am not sure how fast we will rebound -- but does look like the bottom is in.

Important to remember that OPEC wants crude around $20-21. Just as that spike to $25 could not last so will any spikes below $20 be short lived.
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