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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: isopatch who wrote (2010)	9/22/2001 4:58:18 PM
From: Frank Pembleton	Read Replies (1) \| Respond to of 36161

Isopatch, agreed, the Economist story should have been compared to the move in oil on the same day. Oil did spike higher with a 10% move on the day, but didn't hold, despite the fact that this incident originated from the Middle East. There isn't much doubt about which usual suspects are involved, yet oil settled back to pre-WTC prices. OPEC has very little in spare capacity and carpet-bombing Iraq won't improve a thing. As an investment gold clearly outperformed the major markets and continued to move upwards as the 50 and 200 day moving averages for the HUI indicate. stockcharts.com Regards Frank P.