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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Bobby Yellin who wrote (7561)1/12/1998 6:37:00 PM
From: Bo Bob Brain  Read Replies (2) of 95453
 
No indications that we are near a bottom in the energy market.
Today the market should have rallied, as Iraq has suspended all UN inspections. We had bullish news and the market went down, that usually is not a good indication for a market overall. Short term we could get some more sabre rattling in the Middle East which could support the market, give it a short term rally. Wouldn't sell at these levels. Wait for a rally and then see where the market tops out
and then look to sell. The trend is clearly to the downside.
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