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

To: ItsAllCyclical who wrote (88637)	3/14/2001 8:33:43 AM
From: SliderOnTheBlack	Respond to of 95453

o/t Jim L... <<"Not trying to take credit for the idea, but I will take some profits from it... ">> ... no problem - see ya' at $3 KGC before this is all over !!! PS: we could "easily" see a 20 point collapse in the OSX here - very swift, very violent. There is simply too much momenteum money & too many profits sitting there at this level... Fwiw; I hold not 1 penny long in the patch here - even though I acknowledge the frontline activity is 10 foot tall & bulletproof right here, right now... but; that's the keyword - right here - right "now"... as XOM's CEO said - 30 days is a longtime in the oilpatch and we just saw in 1998 what an Asian slowdown can do to Oil Prices allmost overnight and it's a demand driven situation here... I honestly think Oil's going to tank here shortly & the OSX may test sub 100 again & we may allready be in a spring 1998-esque rollover... at OSX 100 - I wouldn't even be tempted for more than a partial position toe dip for a trade & I'd have tight stops set for a "V" bottom bounce, or out... I'm thinking about shorting the BJS's & SII's & High Flyers here this am - may stay at the terminal & do some trading on the short-side INTO the momenteum here for a quick scalp... Let US Oil storage levels creep toward/above 300M boe and it's all over folks - put a fork in it....