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

To: Crimson Ghost who wrote (54145)	11/6/1999 7:24:00 PM
From: Roebear	Respond to of 95453

George, I was just kidding about the hijacking, as I know your golden roots. The charts do not look real promising here in OSX land short term. Securitytrader.com has three negatives for OSX: 50DMA is rolling over, uptrend line of a rising wedge broken on the 4th, very negative candlestick on Fridays performance. ST sees 65 as likely. Only positive here is ST is short term oriented with his charts. I will be looking forward to Gary's EW analysis. Also crude is apparently forming a head and shoulder top. Only positive here is that it has not hit his long term target for the inverse head and shoulder bottom of last year and his targets are usually very accurate. I would hope Slider's Scenario holds true but in the long run the fundamentals should hold and I would expect a rebound 11/9-10 as Slider has theorized or around the OPEC meeting. Unknown bad news, as you referred to in a previous post, should be the wall of worry the reborn oil bull climbs and not a clusterbomb. Possible Y2K effect may be our Ace in the hole, as I have mentioned before at times over the last 9 months, the following culled from Big Bull's Y2K post being an example. Also note the "persistence" factor in that post: *********************************************************************** "Many of the countries that are least prepared for the Year 2000 are important energy exporters, said the report, prepared at the request of Rep. John Dingell of Michigan, the ranking Democrat on the House Commerce Committee. "Any significant disruptions from the century date changeover that impact (the energy) industry locally could have a negative impact on the U.S. and global economies," the report said. It cited Russia, Iran, Venezuela, Nigeria, Algeria, Indonesia, Turkmenistan, Malaysia, Uzbekistan, Nigeria, Angola, and Colombia as among energy exporters that "may experience disruptions tied to Year 2000." John Koskinen, Clinton's Y2K czar, told Congress that one of the most troubling Y2K myths "is the notion that January 1 is a seminal date on which everything, or nothing, Y2K-related will occur." ************************************************************************ Roebear