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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (2592)	8/11/2000 1:29:34 PM
From: Chip McVickar	Respond to of 33421

John, "Jimmy Rodgers..., 1987 or 1988 and He pointed out that the Precious Metals Bull market of the 1970's generated so many new mines and so much new production that this production would keep Gold in a bear market due to over supply through the mid to late 1990's was absolutely on the mark." This is exactly what will happen with the oil & gas markets. We are at the midpoint of the cycle that Rodgers saw in 1975-1988 with Gold. The consolidation by the majors is an attempt to block the inevitable....and become like Debeers and diamonds! Oil and Gas is an abundant resource...., at least for the next 50 years and much further out..! It could take another 4+ years to unfold and until then prices will continue to remain on the higher end. Chip