Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Roebear who wrote (28127)	2/14/2003 4:04:31 AM
From: tahoe_bound	Read Replies (1) of 36161

[[ Now in the years since, you have made an excellent reputation as a timer in energy ]] EXCEPT.. in the Spring and Summer of 1998! I listened with great reverence at Slider's pounding the tables of the oil patch in 4/98, especially on PTEN @ $15 and "poised to double as oil at $22 was at multi decade lows" PTEN bombed down to $3 by year end. Oil hit $9 per barrel. A 75% loss down from $15 to $3.75, would have then required, and luck would have it that it worked out, a 300% gain to get back to break even at $15. It doesn't always work out that way! Slider, no offense. Still love your commentary. I take your recent bearishness on gold as a possible sign that you are skittish in direct memory of the 1998 debacle. A definite wall of worry in the gold sector is being put up, this time with the "it is going to be a repeat of the last Gulf War" scenario. It's the dollar. It's the very positive monthly chart. It's the opening of the China gold market. Heck, there might even still be a "rogue event" tossed in. Hulbert had a great article here the other day.

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