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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: BigBull who wrote (75236)	10/1/2000 1:54:45 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

BRAVO Bullsky ! re: Gold has no inherent value... I thought that comment so irrationally Gen-X; that it was not worthy of a sane, thoughtfull response... Truuuuuuuuly Ammmmmmmaaaaaazing; that intelligent, well educated people have bought into this Fiat Money - new paradigm,productivity Utopia... Long Live those who respect historic economic & market cycles & have greater attention spans; in longer timeframes than the birth & death of either the mayfly, or theGlobe.com et al... Gold doesn't matter any more.... neither do Food & Energy; right ? ..."This is inflation in it's most odious and pernicious form; the kind that destabilizes entire sovereign govts. If you think the recent oil protests in Europe were something wait to see what happens if these currencies fall much further" - BINGO ! Diana; do you still believe in the laws of "gravity" by chance (VBG) ? ============================================================ PS - great comments (as usual) from Fleckenstein on the end of qtr tape painting failure & it's obvious implications... <<Nowhere fast. . . After the sell-off of the first few hours, there was an attempt at a ramp job in the S&P futures, but when it barely got above the highs of the day it fell apart. The S&P spent the last couple of hours draining and settled on the low of the day. The Nasdaq futures and all the other indices basically did likewise. As you might imagine, the leader to the downside was the Sox, off about 6 percent. Speculators have got to be disappointed with today's late day sell-off. The last three days of the quarter, when we usually see the ramp-job, was net-net a bust. Even though the Nasdaq composite was down less than it was up yesterday -- ditto for the S&P -- I think the message from the market here is that a lot of the old tricks aren't working as well as they used to. Most of the stocks that were slated for ramping fell apart. A lot of those stocks that had been up sold off a fair amount. There was a fair amount of damage done across a pretty wide spectrum in technology. My guess is that if the bubbleonians don't figure out some way to rescue the market in short order early next week, it could really take a pasting. I think there is a desire to believe that the earnings numbers are going to save the day. I anticipate that the earnings numbers won't be that great and the warnings going forward are liable to be worse than people expect. All-in-all, the market has taken on a decidedly more negative tone here lately. It has the kind of feel like it did in the fall of 1987 or in Tokyo at various times in 1990. In other words, it feels as though a trap door could spring open at any moment. >> ... a "Trap Door" - that could spring open at any moment... AMEN.

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