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

To: r.edwards who wrote (53144)	10/18/1999 11:06:00 AM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

Raising more cash here. I see too many potential short term negatives for the overall market. Oil stocks will get pulled down in any dip below 10,000. Potential short term negatives 1) Greenspan raises again 2) CPI report tomorrow 3) Y2K fears - people hoarding cash - pulling out of market 4) Long bond trading back to 6 1/2 I don't see this as a full fledged bear, just a correction. Like many I see 9,000-9,500 as the support area. Sold all my time sensitve calls. Will buy long term calls on any true market selloff. About 30% cash here. Only holding E&P's right now. Looks like the market wants to talk down the oil service co's a little longer.