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Politics : Ask Michael Burke
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To: upanddown who wrote (46795)2/12/1999 6:08:00 PM
From: Earlie  Read Replies (1) of 132070
 
John:

Good post. Well thought out and cogent. I love the techs, and know little about the O& G game. but my back-woods thinking is similar to yours.

- MB's " thirds" and the strategy behind it is the best idea bears have been provided in years.
- Both oil and gas are finite commodities, and both are cheap, but until the deflationary wave has washed over the entire planet, we are likely to see more jurisdictions joining the ranks of those who cut back on everything (including oil derived products) which means it may be a while before they start to move.
- The market hasn't been hit yet. When it does, I would suspect that even the cheap stocks may get cheaper.

I especially liked your "when you're sure it has bottomed,....10% below,......thirds." approach. I try to use a variation of this approach at this end, (both long and short), at least during those times when neither greed not panic are in control. (g)

Best, Earlie
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