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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (52394)	10/4/1999 11:23:00 PM
From: Elmo Gregory	Respond to of 95453

Pricier crude has analysts gushing about Big Oil moneycentral.msn.com

To: Big Dog who wrote (52394)	10/5/1999 8:03:00 AM
From: Crimson Ghost	Read Replies (1) \| Respond to of 95453

Big: Y2k is not the primary force behind this gold rally. Rather it is the huge speculative short positions that have been built up over many years by hedge funds, some miners, and bullion banks. When these "masters of the universe" suddenly realized that future gold supplies would fall well short of their expectations, a mad dash to the exits began. No doubt gold will drop sharply when this rally ends. But how high it will go in the interim is anybody's guess. If Y2k demand kicks in big time, the sky is the limit. BTW, almost all the "experts' were bearish on gold at the bottom. Just like oil last spring. Only even more so.