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

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To: Big Dog who started this subject	9/28/2003 2:06:47 PM
From: Ed Ajootian	Read Replies (1) of 206272

Below rig count data in support of the contention that this time it is different: The end-of-month gas-directed rig counts for each of the last 2 natgas price booms, starting in the 7th straight month of > $5 gas: .................. 2001 2003 .................. __________ ________ March '01/June '03 946 924 April '01/July '03 975 930 May '01/Aug '03 1,030 944 July '01/Sept '03 1,056 943 This seems to indicate that the E&P industry is not going wild drilling this time, and we stand a good chance of getting a "soft landing" in natty prices as the supply catches up to the 5 year average. Adam Smith's "invisible hand" is working it magic here, this time a lot more smoothly than the last!

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