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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (33595)	11/17/1999 5:02:00 PM
From: pater tenebrarum	Read Replies (3) \| Respond to of 99985

Bobby, well, Don did point the oil service group out to us in a timely fashion. and i kept on pointing out that oil was bound to go higher into Y2K...this will be true whether there are supply disruptions or not. simply the perception that there might be disruptions suffices to drive the price higher. and all those who predicted a breakdown in OPEC discipline have possibly learned by now that OPEC won't let go of a good thing so quickly. however, crude does look like it's close to being overbought in the short term. re: gold, trust me, it's time will come. the worldwide money supply explosion virtually assures that. regards, hb PS: according to the Fed's model, the S&P was 47% overvalued as of yesterday...the biggest gap between the model and the market's valuation EVER. so much for Abby's "modestly undervalued" notions.