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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Gary Burton who wrote (55491)11/26/1999 10:37:00 PM
From: Gary Burton  Read Replies (2) of 95453
 
As I see it, the question becomes-"will crude top out and embark on its necessary material correction (after wave 5) BEFORE the upturn in NG gets going off the current low?"---My sense is that Gas is likely a little closer to turning up than crude is to turning down from its interim peak for this cycle ($10 to $30ish) So, there is likely a window of opportunity of perhaps fairly short duration during which both oil and gas could be rising simultaneously and this would be the time to see most e&p stocks jump. Once oil starts down into its partial retracement of the $20 gain off its $10ish low, it will likely act like the same drag that NG has been while crude was rising....Bottom line, the window for material gains may be quite short, but a window nevertheless. This window might even start next week, Maybe no new highs though as the window may shut fairly soon after opening, once crude starts down?---just a hunch---Slider/BB et all-any thoughts on this scenario?
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