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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Thean who wrote (5732)12/19/1997 4:28:00 PM
From: Nancy  Read Replies (2) of 95453
 
Thean,

I believe the sector has suffered both technical damage and fundamental damage. Many have violate 200 dma support. and a warm winter, low crude, particular low natural gas price only make the picture worse. P Engr's assessment is on target. Still lots of profit in this sector not being taken yet - those invested year ago or so, they may be shaken enough to decide to get out. I see things will turn uglier before better. We may not see same Jan/Feb recovery as we hope for.
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