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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: John Carpenter who wrote (39839)3/13/1999 1:58:00 PM
From: Crimson Ghost  Read Replies (1) of 95453
 
People who have been riding a major trend has einhorn has (big bear in commodities) very rarely can see the turn. I would be much more concerned if she was bullish.

There are a lot of ideological defationists around whose mindset simply cannot cope with the possibility of oil or the CRB ever again experiencing a major bull market.

As I have said before the economics of oil are such as to virtually compel producer cooperation. When a 5% cut in output can boost prices 30-50%, even the most flagrant OPEC cheaters have finally gotten the message -- hang together or hang separately.

My take on this rally is somewhat further to go, but the bulk of the gains FOR THIS PHASE are now behind us. However, when DEMAND starts to pick up driving crude into the high teens late this year or early next, the OSX will easily break 100.
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