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Gold/Mining/Energy : maverick (MAVK)
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To: Satch77 who wrote (342)8/10/1998 9:19:00 AM
From: James F. Hopkins   of 432
 
Hi 77; I haven't looked into MAVK enough to justify an opinion
on the company, it's off it's highs so much it's got to look
like a bargain, and it may be. My gut felling says it won't go
much lower but you could have to wait till drilling picks back
up to realize a gain.
In their July 14th report they had a line,
We are hopeful that the recent production cuts announced by OPEC will stimulate oil prices, drilling rates and OCTG demand.''
This don't make sense to me, it's like whistling pass the
grave yard. "production cuts" may jack up crude prices, but
they don't add up to more drilling, just the opposite.
But so many people will not see it that way, if they see a
price increase in oil they will take it as a good omen and
these type stocks will rally "some" however for it to be
sustained a real demand for more oil has to happen, not an
artificial one based on price fixing and production cuts.
Longer term that hangs on the world economy improving,
particularly Asia.
Jim
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