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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Crimson Ghost who wrote (76246)10/13/2000 9:47:13 AM
From: que seria  Read Replies (1) of 95453
 
Crudele's piece illustrates part of why a grinding bear
may be here, with countertrend rallies. It is a measure of how far our politics have declined to hear it said (and, I expect, widely believed) that since moral hazard (here, injections of happy juice by the national nanny) is already rampant, equity and ST goals dictate more of it as a cure!

The harder gov't fights ongoing and still-to-come financial asset deflation and the inevitable economic dislocations accompanying it, the more protracted and painful will be the necessary structural and psychological adjustment. There is accordingly a case for gold, but to me the NAZ has to fall first, absent a war or oil embargo. Then the dollar will get hit, and I think only then will gold rise much and for long. So I suspect today or next week will more likely call for seizing short term buying opps in tech, and I'm waiting on today's tape to tell me if so, and what.
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