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Gold/Mining/Energy : Swift Energy (SFY)

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To: PuddleGlum who wrote (756)	4/14/1999 5:11:00 PM
From: Mark	Read Replies (2) of 1602

With improvements in technology we don't need $20 oil to be profitable. SFY makes money at $12 oil, so why can't a jillion others do the same. My thoughts exactly. The article seemed to dismiss in about four words the fact that the very high spending by the oil cos were actually building reserves as well as maintaining output. I'm sorry to hear you confirm that SFY has let some people go. (I'm more concerned for the people involved than I am over what this might mean for SFY's trading). Oil was down today, though still "healthy". SFY seems unable to break through the long term MA. Let's hope the Q's figures provide some positive outlook. There was a lot of selling in the techs today (semis and PCs). As I said a few weeks back, I've bailed out of all my techs (bar two). I'll be tempted back if we get a 20% sell-off. For the moment, I'm 80% in O&G (and support) stocks. Mark

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