Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Crimson Ghost who wrote (2233)	9/27/2001 5:06:58 PM
From: SliderOnTheBlack	Read Replies (3) of 36161

G Cole...right you are on Andy Smith turning bullish on gold fwiw: I've heard that Steve Forbes,Jack Kemp & Larry Kudlow and now Andy Smith all citing the $340-$350 gold price figure.... is not an arbitrary figure...but, rather an openly acknowledged/behind closed doors, FED targeted liquidity barometer that will be reached. Word is also out that a few US Banks were told to get their houses in order derivatives-wise. I still think things are ripe for a derivatives/crisis - "event" driven spike right thru $400 and given the global risk both economically, but also with the terrorism issue... a crisis/event spike thru $600 is not at all unrealistic. I covered my first Oilpatch shorts today and established some initial Long Term positions... the "pipe" group of GRP MVK & LSS is not far from true value suppport, GLBL is now c-h-e-a-p; a must buy at $4-5 and some drillers are close... still think we breach OSX 50 and should test the prior cycle support levels - unless a Mid-East supply disruption EVENT occurs and a "war premium" is assigned to crude oil vs. the "global recession discount" that Oil's presently pricing in. That is the $64 question/bet that we must take/make here... wait for OSX 45-48 LT technical support, but risk that a ME event ramps crude & bounces the 'patch stocks before we reach it; or begin re-entry here, slowly averaging in.... Leaps/options especially make sense here for re-entry imo; defining capital outlays/limiting risk; but allowing leveraged upside while minimizing costs of participation. For anyone who didn't ride the little chihuahua off the oilpatch cycle cliff here... we're close enough for horseshoe's & hand grenade's initial re-entries in select stocks imo.

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