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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: waverider who wrote (12973)2/26/1998 4:13:00 PM
From: JZGalt  Read Replies (3) of 95453
 
Poll Time Everyone: Vote below...

1. This is the turnaround. While we may retrace a bit from the highs today, we will not see lower prices from yesterday's close.

unless

2. This is just a emotional jump and we will return to our steady downtrend.

or it might just be that

3. We aren't retracing anything. We're on a run.

but there is always the possibility

4. We'll base here until May.

of course there is a chance that

5. we'll trade in a range 10% below yesterday's lows to 15% above today's highs over the next 4-6 weeks, after that (depending again on that nut in Iraq and OPEC), we'd move up very slowly.

unless cold fusion becomes the norm and we no longer use hydrocarbons. In which case:

6. Oil will become cheaper and cheaper as time goes on as the producers are trapped in a death spiral of lower prices to obtain hard currency.

That ought to cover my ass no matter what happens!! I wonder if Merrill Lynch will pay me some of those big bucks to write the reports.

----
Dave
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