Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Davy Crockett who wrote (11404)	4/29/2002 10:19:57 PM
From: Frank Pembleton	Read Replies (2) of 36161

Peter -- "You are either with us or against us" the White House has polarised the ME and is now involved in a peace process it never intended to participate in. US Plots Possible 2003 Air/Land Iraq Attack -- a headline like this one and Slider's $350 gold at first bang has me ST bearish on ol' yeller... ST bearish on oil and gas too. I took some money off the table today and raised my cash position to 35% - the big headliners like Kinross and Bema finished off in the range of -3% ...... Newmont finished slightly in the red too, so I'm thinking smart money is pulling back a little. I've also noticed the stocks that are going up are going up on small 100 share trades despite the window dressing activity from the brokerage firms. ...now oil prices... shoulder season and the falling price of energy will give our next market rally - all led (unfortunately) by the techs - the bullishness in this sector just amazes me - "the bottom is in, really ... is true this time" Anyway... let's be careful out there! Regards Frank P.

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