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: Crimson Ghost who wrote (55500)	11/27/1999 12:22:00 PM
From: BigBull	Read Replies (4) of 95453

George: I'm selling front row seats for the upcoming "Winter Slam" --- Feature attraction: The Battle of E-Wave heavyweights -- Donnie "Macho Man" Wolanchuk vs. Gary "The Undertaker" Burton in a no holds barred, steel cage, grudge match. <vvvvvbg>. Maybe Slider would prefer Bob Feller vs. Ted Williams. I could even go for Lawrence Taylor vs Jimmy Brown in the open field. Whoooooaaaaaa. No matter, whoever wins this one becomes Lord of the Waves! Undisputed Heavy Weight Champion of the World. Lets get ready to RUUUUUUUMBLE. Oh, this will be FUN! <g> Anybody makin' odds here. GB: Message 12119247 DW: StockHouse: And what about Crude Oil? Don Wolanchuk: You have a huge inflationary spiral coming. We have a projection here of $33.45 over the next year. If it goes through there, it will hit $41. StockHouse: What about in the intermediate term? Is it going to have a little zigzag? Don Wolanchuk: Yeah, those are the most bullish things. Those fast, straight-up moves go nowhere. Like that sharp spike we had from $18 to $41 in 1989. Anything that goes up that fast just comes right back down. We want this to go a little bit slower. The first order of business is taking out $27. Once that first $27 is taken out, oil will go to $33.45. StockHouse: Is it realistic that we will see Crude Oil going through the $27 mark before the end of the year? Don Wolanchuk: That might come next month. It can come at any time. Today's action was kinda pivotal (November 9th). I am still holding the long contract from the $10.50. I have been rolling it forward. We took some profit up in the $22-23 area on some of the contracts, but we had 30, and we are (still) long 10. Essentially what I will do is hold a core position and put on an occasional spread, knowing full in my mind that we will go a hell of a lot higher, I just play the hiccups with the next month by shorting the next month out.

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