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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: BigBull who wrote (3215)	7/29/2001 7:01:16 PM
From: jim_p	Read Replies (2) of 206093

BigBull, The longer oil prices stay in the mid to high 20's, the more capacity will be added to the system from places like West Africa. OPEC's share of the market will continue to decline until something gives. Artificial price controls have never worked in any economic system. The only question is how long does the pressure build until the cheating starts and all hell breaks lose. Each time OPEC cuts, the amount of excess capacity of each member increases along with the pressure to cheat. It's not if, only when. Oil is in a bear market. There will be many rallies along the way down. Until there is a fundamental shift in inventories or in the direction of the economy, it's best to short the rallies and cover the sell offs. Jim

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