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: ItsAllCyclical who wrote (55841)	12/2/1999 2:29:00 AM
From: Gary Burton	Read Replies (3) of 95453

JimL--My forecast is based solely on EW and has nothing to do with FA or the news backdrop. It is as if I looked at the chart and knew nothing at all about oil. Everyone of course is entitled to think what they want to. Bullish types will no doubt find all sorts of reasons that they think make sense as to why their scenario will win out. Me?--I purposely try to ignore all the news backdrop etc when I look at a chart since I happen to believe, rightly or wrongly, that FA etc is largely already reflected in the chart and is therefore irrelevant at the margin where investors meet to buy and sell (ie the sellers know what the buyers know). Now that will surely get into trouble here eh? (vbg).... As to why I am not more bullish here?--well, I'm over 50 and therefore getting on in years such that I don't have my finger on the pulse of what's happening anymore. I mean, otherwise one would think I'd get with it eh? Maybe all those sellers of energy shares throughout the last 6c up in crude must be over 50 too and don't know about all the bullish data. Yeah, that's the reason. (vbg)--no critism intended. cheers

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