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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Gameboy who wrote (30468)10/7/1998 6:29:00 PM
From: Grommit  Read Replies (1) of 95453
 
OT Yep.

Try figuring in the effect of US-1999 recession on oil demand and E&P budgets -- That's all everyone's focused on.

Catch 22. If everyone is focused on it, we'd be foolish not to focus on it ourselves. Whether it is true or not that it will occur is irrelevant. If irrational selling is occuring, it is better to be first out the door. If it is rational selling, then it is better to be first out the door. There is no doubt that there is selling -- big time.

I never thought I would try to be a market timer, just based on the price swings, but I am now one. I wanted to time this sector's recovery based on watching oil supplies and the like, but this market is either dumber than me or smarter than me. Which is it?

Essentially -- Why own any stock when it will be cheaper in a month?
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