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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: William JH who wrote (60254)2/14/2000 1:11:00 PM
From: Crimson Ghost  Read Replies (1) of 95453
 
Oil stocks problems reflect more than just worries about what OPEC will do. Cyclical stocks in general have been quite weak of late -- not just energy. I know this will be anathema to Big Bull and Wallenchuk, but now looks like the global economy will slow quite considerably before long. This possibility seems to weighing on all economically sensitive stocks here.

I still see the key event that will turn the cyclicals around as the popping of the tech bubble. No way will Greenspan relent as long as the NAZ in la la land. But once the NAZ comes down to earth investors will not have to worry about more tightening for a long time to come. And we may even get some easing of monetary policy.
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