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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: isopatch who wrote (85036)1/22/2001 7:22:24 PM
From: Roebear  Read Replies (1) of 95453
 
isopatch,
Was just going to post "Where's Slider when you need him" and I see he beat me to it, VBG! Todays gold charts look promising enough for me to jump in rather heavily. Already had a position in AEM, added in morning and that one jumped to 6 13/16. Added positions in HM and a few others. For the first time since Mid December I am mostly invested and the reason is there are some chart anomalies taking place the last week or so that also took place back in Sept 99 and have not been duplicated since then. Nothing is for certain when there is a BOE sale scheduled for tomorrow and no one knows if lightning will strike there again, but the fundamentals for gold are a lot more promising than they were back in 99..

Also, I felt the risk/reward ratio to be very much in my favor on these trades, with good support levels nearby and a decent chance that resistance levels overhead have had a long time and plenty of tax selling to weaken.
Not to mention all those COT shorts waiting for their hides to be tacked on the wall, ggg.

On the energy front, I have dipped my toe in the waters, nibbling on TESOF again whenever it gets in the high nines. Casing drilling success recently announced again and they should be near capacity on their rental of top drives. I expect this to be a good late cycle play with or maybe without, that OSX rally when it gets here.

Best Regards,

Roebear
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