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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: jim_p who wrote (39665)3/1/2005 4:56:48 PM
From: diana g  Read Replies (2) of 206212
 
I'm betting it's a dip

Hi jim,
You wrote: <<<"...Looks like a classic top to the cycle at OSX 144.97....">>>

I think maybe it is different this time. ---I know. I know. It's a cyclical sector & to make $$ one has to know when to get out.

I got out in late dec. But I got back in recently. I know you can make a good case that this is a top. But I look at (among other things) the long term charts for XOM and I think something is going on that isn't a cyclical top forming.

We all know the 'peak oil' story & the NA NG story. But they've been true for several cycles while not evidently being immediately relevant to the price of sector stocks. I remember the last few tops and it's true that there were people saying "AHA! Finally the world is waking up & smelling the coffee about oil!" Then the sector headed down.

But I think that maybe this time this is not a top. I agree that, as a general rule, cycles will continue. But I think we might be seeing here a surge to a new level. Look at that XOM chart. In the last month XOM has risen extraordinarily on very high volume. Half a billon shares bought at record high & increasingly high price. That's not a buying frenzy in some penny stock. That's Big Money shifting. I don't think they bought to sell next week or next month.

Of course I'm just a simple grrl & I've been wrong many times. But I'm betting this we're seeing now is a dip is a continuing upward move.

Regards,
diana
PS, Mike, be sure to tell women that you don't like to watch ball games! That will be worth more than looking like a fashion model in being desirable to most women!!
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