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Strategies & Market Trends : Point and Figure Charting

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To: PuddleGlum who wrote (15711)	3/15/1999 3:16:00 PM
From: Jorj X Mckie	Read Replies (4) of 34811

LOL, Got it!!!! I'm going to hold my ABX although I had an interesting conversation with a friend last week concerning gold that would suggest that it may be some time before there is strength in the gold market. The suggestion was that there is a great deal of gold that is already above ground that will be making its way into the market for the foreseeable future. The source....the former USSR. Haven't done any DD to confirm, but an interesting thought. On the black gold....I will be staying out indefinitely. Maybe some other of our oil gurus can fill in details or completely debunk this, but I hear that one of the causes to the weakness in the oils is that instead of having 50 years of reserves, they have identified reserves going out to about 235 years. Basically, the new locating and drilling techniques have created a glut that doesn't appear to be ending soon. Caveat: I don't know anything about the oils, just paraphrasing info from a conversation with a knowledgeable friend. JXM

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