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: Archie Meeties who wrote (63295)	3/29/2000 12:45:00 PM
From: Roebear	Read Replies (1) of 95453

archimedesiii, OT, Position disclosure: Cut my position in my fave gold stock last week to make room for oil. Sold off most of my LT position in it this AM, regretfully. Gold is taking a swan dive and since it broke my "last ditch" support levels I have no choice but to assume it will head towards old lows. If the Bank of France does sell gold this is a very serious matter, as France has been a stalwart of gold for a long time. Caveat, I could be a contrary indicator here, VBG, but have to trade my plan. As for oil... About the only fly in the soup is this divergence between gold and oil and yet it could be a positive short term as it mutes inflation and takes some of the heat off of the price of oil as a result. Your opinion on this divergence as a student of the metals would be appreciated and not totally out of place here as long as preceded by an OT. Best Regards, Roebear

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