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

To: kodiak_bull who wrote (80779)	12/5/2000 2:39:43 PM
From: SliderOnTheBlack	Respond to of 95453

re: Oilpatch stocks not reacting here on broad market rally... The way I look at it is this: If this broad market rally is for real and is going to stick; it is because the market sentiment is that the soft landing is going to be soft & not hard. That the economy is slowing, but not crashing and that the Fed will come to the rescue if it doesn't. If that is so; the only true "fundamental" threat to the Oilpatch bouncing here just got eliminated. I don't think this crude oil correction is a threat here - crude won't correct much if everyone views the landing as soft. The market can't have it both ways and they won't. This is a trade the traders opp... this is an irrationally exhuberant reaction to Daddy (Greenspan) promising to bail us out of any trouble down the road... follow the fools; they clearly are going to take us for a little run here again (VBG). The Bear is now; going to take his pause that refreshes ~ If the broad market & especially Tech is bought and and sticks; the Oil's will soon follow for a nice bounce rally here shortly. We're getting a nice delay - in which to pick off a few cheapies imo. I'm in today; because if crude rallies off of surprising API's, AGA stat's etc - we lose 10% on the open in some stocks... I'll look to take profit at the first sign of resistance again around OSX 125ish; as I think the reality of a poor Xmas retail season & further downward guidance from Tech Co's as well as a poor Q4 earnings period from Tech - will ultimately bring the return of the Bear... but for now - the trading window of opportunity is open. Not a "max margin" opp - there are few at mature points in the cycle; but a nice 20-25% move in individual stocks is realistic... I'm back for a trade; nothing crazy - just hoping to pick up 15-25% in 5,6 stocks. up to 30%ish Oils; may add on strength to 50%, but not more than that...