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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: cherrypitter who wrote (43214)4/25/1999 3:55:00 PM
From: Robert H.  Read Replies (1) of 95453
 
Richard,

If one were to review the posts on this thread over the past six months you'd have to conclude that the only profitable strategy has been one of the contrarian.

Today I'd have to conclude that the daytrading in and outs are in the short frame of mind. Indeed, the game goes on. While it is true that few if any believe that oil is going back to $12 the bear traps are once again being set.

Crude deliveries are going down, prices are holding above $17, the glut is being erased, shortages are forecast within months; and once again the thieves and talking heads are running wild in the night.

Now the story is "It's the Cap Spending, Stupid". ...Got a new one; How about "It's the BS Stupid". ...Those of us who relate to reality and not to the wild speculation as evidenced by these day to day long winded emotional posts, find comfort in the contrarian viewpoint. One does not have to look far to find some great indicators on this thread.

Those who believe that cap spending will not happen until the year 2000 will be way behind the curve. The day to day price of tea in China has nothing to do with the realities of empty tankers looking for product.

Scared money has nothing to do with fluid market realities. Truth is, things are going just fine. Expect a good point gain before weeks end.
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