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

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To: Wyätt Gwyön who wrote (44038)	5/16/2005 3:51:01 PM
From: Umunhum	Read Replies (2) of 206338

were you able to listen to the Coxe call this weekend? I listened to it on Friday. He basically reiterated the same stuff. *Thought that the recent oil decline was partly dollar strength related. Thought that appreciation in the far out months in the oil future markets was partly caused by the new accounting rule that forces oil companies to mark to market their hedges - so they are doing less of them. Doesn't believe this sell off can continue much longer because all the resource companies have very deep pockets now and he expects to see buybacks and buyouts if this continues. *Mentioned Phelps Dodge is trading at a 6 PE again. I am going off of memory so hopefully I got it correct. Puplava is really getting bearish on his calls. He keeps pounding the table that some rogue wave is going to capsize these markets. I am contemplating on slowly legging into the Canadian Dollar. I am also looking at the TNX. I can't believe that the 10 year note is only paying 1.2 percent more that the overnight rate. Ordinarily this signals a recession on the horizon.

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