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

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To: Dennis Roth who wrote (113696)	11/18/2008 4:51:13 PM
From: skinowski	7 Recommendations Read Replies (2) of 206175

$55 a barrels early Monday and some analysts warn that the bottom may be as low $30 to $35 a barrel. Based on my many years of observations, just about every time towards the tail end of a major move one sees knowledgeable and thoughtful commentators call for a continuation of the trend. For many years now, every time gold had a good run, people would come out voicing expectations that the metal is on its way to $3- or 5000. And every time such calls were a good sell signal. In 1999 - 2000 books about the DOW heading towards 36 and 100K were bestsellers. No disrespect to Mr. Matt Simmons, but he, basically, called the top for the Oil rally last summer - when he begun mentioning $300 as a likely target. I don't know where and when Oil will bottom - but, imo, it will not happen until after we see a flurry of strikingly bearish extrapolations.

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