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Gold/Mining/Energy : Harken Energy Corporation (HEC)
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To: Zeev Hed who wrote (4320)3/22/1999 2:12:00 PM
From: MIKLEDS  Read Replies (1) of 5504
 
Sooner or later this market will go south. It's just a matter of time coinciding with the bad news of inflation, decreased profits, fed rate hikes, or any of a thousand other possible bad scenarios, any and all of which are possible and will fuel each other to drive prices down.Though individually these downturns may not look bad, as a whole the market will not blow them off continously. It is sentiment that fuels this market and I believe a significant downturn is quite possible in the next 12 months, though I do believe it will be shortlived and we will again see new highs in several years. We can not continue to lower inflation forever. We can't possibly keep lowering the unemployment rate. Companies cannot keep increasing profits every quarter. people know this and are just waiting for the catalyst to start the downturn. Whoever would have thought that the Japanese would be going through the financial turmoils that they are engrossed in?

This bull market cannot continue forever unscathed. A mere seven day supply of oil in storage will not cushion the inevitable rise in oil prices from yet to be determined factors that will catapult our stock prices to new highs. no one fortold of the 70's oil embargo or Saddam burning his own rigs and noone can forsee the next crisis that will drive our oil higher. But I will be here waiting (foolishly or not) for the stratospheric rise in oil futures.

I am just wondering if oil will take another big hit before it starts to rise again and how the inevitable drop in stock prices will effect our already depressed oil stocks.

The market is cyclical and our cycle will be turning up soon.

Mike
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