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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: jim_p who wrote (34138)8/4/2004 3:34:55 PM
From: Taikun  Read Replies (1) of 206310
 
$45-50 could do it.

<the institutional players still believe in cycles>

I think with the OSX looking bearish yesterday we were ripe for a selloff. I just wonder if it is a technical (chartwatchers) vs fundamental (real fear of future supply constraints:peak oil).

It is interesting to note that China's oil demand did not appear to correct significantly with rising prices the last few months. Are they less price-sensitive? Is $45-50 the US number? Perhaps there is a higher number for China and Europe?

I suppose we might know the answers to this later this year. For now, I agree with you, the runup is taking a breather.
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