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

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To: CommanderCricket who wrote (103384)	6/20/2008 3:32:24 PM
From: Elroy Jetson	Read Replies (1) of 206086

The market is has been paying up for currently producing energy reserves and those who own them. I wish the market were paying up for firms that can produce new reserves, but that doesn't seem to be the case at the moment. In fact there seems to be a major "money leak" in the market today, with nearly everything down since 1 pm EST, except US Treasuries and the Australian Dollar. (I'm sure I'll now be informed of exceptions) Some of the hottest stocks are down the most, so I'm sure Ken Heebner's funds are suffering today. It seems clear that some with a lot of assets are fleeing markets in general. This reminds me of the market action in 1996 just after the Asia Crisis. Monday this gets worse or better, which will tell us a lot about what's happening. Who is going to pay for new oil exploration? Not new stock offerings if today is any indication. The markets can stay irrational longer than we can stay solvent. .

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