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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Bearcatbob who wrote (28499)12/26/2003 4:15:02 PM
From: profile_14  Read Replies (4) of 206266
 
The seasonal pattern every year is for the OSX sector to sell off in January, at least through the 2nd or 3rd week. It can be as strong as a 10% sell off. However, with pricing strong and the economy on the mend, it might be less, or no sell off, but I would be surprised to see it rise right of the bat for the first couple of weeks. The sector then resumes its climb through late spring after this initial sell off.

As of today I am short via puts on the OIH and also on the XLE for January. Just as the sector rose in December, it ought to fall in January on profit taking for those that will not pay taxes for another 16 months. Those are my thoughts FWIW.
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