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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Tommaso who wrote (81808)12/15/2000 11:59:34 AM
From: Roebear  Read Replies (1) of 95453
 
Tommaso,
RE: "But how can prices possibly decline from where they are over the next eighteen months?"

Really don't like the answer to that question. Let me say that if we penetrate 690 on the OEX today and don't bounce back, say hello to 640 on the OEX. IF we are going to experience a real bear market of more than a few months duration, then that would cut consumption at the same time that lots of NG is coming on line. Plus we have seen from CA what happens when push comes to shove in the energy industry vs economy game. Energy loses.

I'm not saying this will happen, but it does answer the question.

Best Regards,

Roebear
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