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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Think4Yourself who wrote (72077)8/31/2000 11:25:54 AM
From: ItsAllCyclical  Read Replies (1) of 95453
 
Decided to raise more cash today (about 25% now). I know what I said yesterday, but have been thinking that OPEC has no choice but to lower prices in the short term imho. Maybe prices won't come back much, but any decline in crude below 30 will be a yet another catalyst for techs. Also I don't like the fact that refinery utilization will decline soon. I was already thinking Sept would be good for techs as volume should pick up as more traders return, but with oil prices likely to fall a little in the short term I'm even more convinced.

I will start buying back into the OSX again around 125 or lower.

Bought more WCOM today and bought back into QCOM. I still think QCOM is due a dead cat bounce if nothing else if/when the tech make a convincing breakout in Sept.
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