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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Think4Yourself who wrote (75340)10/2/2000 4:13:57 PM
From: The Ox  Read Replies (4) of 95453
 
I find it hard to believe that anyone who is overly bearish on the world markets can be strongly bullish on the patch?

We've had a NASDAQ like run in the patch for the past 16 months or so, one that can stack up against the recent "blowoff" top made by the techs in charge of the NASDAQ. Put up a chart of NG or Oil and compare it to some of the tech stocks and you will see very similar runs.

I think that sentiment will change in the next couple of weeks from the doom + gloom to one of: it's not really that bad out there, after earnings have been posted and the dust settles.

There are some very cheap techs and some fairly high priced oils these days. Even with this in mind, I'm hanging onto my patch stocks.

I don't buy into the market crash theory that the gold folks seem to be stressing (or should I say its more like bordering on intense hype). I can't see how the crash can occur at this time. That said, I'm always more cautious this time of year as a rule. I've started to dip my toe back in the water in the semi cap eq stocks since some of them are priced for prolonged recession.

I think we have another week or 2 of weakness in the overall market and then we start back up. I don't expect to see anything like the bull run that happened last year but I also don't expect to see NASDAQ 1900 like someone posted earlier.

I am willing to be proved wrong.....
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