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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: quehubo who wrote (37135)12/5/2004 12:01:12 PM
From: russwinter   of 206181
 
Understand, I've been out of those for awhile, although the deepwater play intrigues me. I nibbled on ESV at the 28.50 level last week, and would like to get back into GSF and RDC, but there seemed to be quick trigger bargain hunters last week. A little more work on the downside will tempt me back in to those. I have CNQ on my screen to be bought at the bottom of the Bollinger band.
stockcharts.com[l,a]daclniay[pd20,2!b50][vc60][iUc20!Lf]&pref=G

As for OPEC, I don't think anything they say one way or the other will matter, at least fundamentally. They are mouthpieces and empty suits at this point. In fact if they did nothing on 12/10 and oil fell on that news it would be the last great buying point of this decade. Personally I hope that's exactly what happens, because I'll get even more aggressive on the commodity than I already have. The simply fact (per my 37133 post)
Message 20828994
is that most if not all them engaged in damaging overproduction for most of the late fall, and individual countries must or will back off now. If they don't then the fields will do it for them.

I have one specific question for the board about Libyan production. Are they going to a higher sustainable natural (as opposed to forced) production level (was 1,630 in October) that quickly? Just a detail I was wondering about?
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