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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: quehubo who wrote (21116)3/31/2003 7:24:47 AM
From: russwinter  Read Replies (1) of 206326
 
Th forces behind this move are now powerful and overwhelming:

1. 91 PG 1 replay book myth fading fast. The purveyors (hedge funds) of this absurd theory are in a world of hurt, especially in the crude oil markets, as large specs are net short 45,542 contracts (45.5m barrels). Commercials long a like amount.

2. Modestly valued E&P's deliver another huge quarter in an environment where other industries are profitless. Momo into 2nd quarter as strong as ever. Commodity remains firm.

3. Drilling is on the upswing. GOM policy change a significant catalyst. Offshore drillers barely trading above NAV.

4. Worldwide energy production infrastructure is increasingly recognized as suffering from underinvestment and decay. Oil service companies are at the front end of a sustainable boom.

5. Stocks acting well, with good follow on days for a change.
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