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 (64430)	4/12/2000 6:32:00 PM
From: BigBull	Read Replies (5) of 95453

I've have gone to 70% cash today. Why? Simple. I believe this over all stock market is about to become gripped by extreme fear. The major techs are all breaking down badly. The extreme use of leverage we have just witnessed will generate some real margin call related blood letting. I do not believe there will be rotation this time into cyclicals. For now, I don't think any stock is "safe" despite the rally in select financials today. Even so I am now convinced that the Fed's process of increasing rates is over. The Fed now has no justification what so ever to increase rates from here. I strongly believe in Boom 2000 and look to re-enter sometime over the next month or so. I do not believe the energy fundamentals have deteriorated, on the contrary, they are quite bright. But for now ole Bullsky is in capital protection mode. Been here, done this, and don't like what I see at all. When fear comes to town people forget fundamentals, especially if they have a profit to take. If I'm wrong I can always re enter laggards. If I'm right I get to buy leaders at cheaper prices. But for now, for me, discretion is the better part of valor. JMVVHO Bull

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