Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Snowshoe who wrote (27023)	8/4/1998 7:40:00 PM
From: Richard D	Read Replies (1) of 95453

Well Greg, I know you're lickin' your chops right about now, but hopefully we're at that point in the bungie jump where we touch the river with our hand before being pulled skyward again. It is possible for the OSX to rally in spite of the API numbers and oil. Semi's have often rallied though DRAM book-to-bill ratios looked bleak. If the OSX does rally on bad API numbers, we may have a bottom in the sector. Cash will be available from liquidation of other sectors. The Iraq problem seems to have gone OPEC's way today. Perhaps that will negate the API numbers. I certainly think the API numbers aren't really news, while the Iraq reversal is in a way (since many thought they were going to open the spigots.) I agree with those saying Mr G has got it wrong. The danger of recession seems higher than inflation. As I have said before, this will require world wide stimulative money policy. There seems little to dispute this, employment numbers not withstanding. Regards, Richard

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