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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: chowder who wrote (6910)	2/22/2002 4:05:52 PM
From: jim_p	Read Replies (1) \| Respond to of 206104

"Normal profit taking would take the OSX back to around 82-83 based on where it's at now" You've been reading my notes again. 82 is my next buy point. OSX is fun to play. Have a great weekend. Jim

To: chowder who wrote (6910)	2/23/2002 7:50:14 AM
From: GREENLAW4-7	Read Replies (1) \| Respond to of 206104

If agree OSX is heading to 82-83 from here on profit taking why not short? Some of you posters love to show these charts of stocks and index's going straight up..parabolic..and when I say its time to short many jump and say never..its going higher. Has anyone ever heard of OVERBOUGHT? Could it be the move in numerous OSX stocks are overcooked on the upside? Yes, looking at a chart one can say we are going higher, but one can also say volume is drying up and reversal is at hand based on OVERBOUGHT territory. Now getting to this Nat. Gas. theory of its the driving force in OSX going forward, if it is you should sell every OSX stock. There absolutely nothing in the inventory data or seasonal factors that says NG is going higher, if anything its heading back to 1.75. I admit, I'm bearish near term on OSX, NG, and Crude, but I would become a bull in a second if there was something to hang my hat on. Now regarding recent moves in the osx, what happens as I believe we get BUILDS in AGA, and bUILDS in crude over next several months? Does OSX hang in the 90-95 range? Lets look at the move in OSX recently. From 60 to 90, then back to 70 then to 90 agan, then back down to 75, then from 75 to current 90-92 range. Trend is up, higher lows, and probably higher highs (92) but nominally. What is causing these moves, is it institutional buying? I think not based on low volume, I believe like the HB's, the shorts have been squeezed recently and the specialist have helped. I am very happy, since this recent move is leaving the door open for a nice trend down. Lets look at the moves in some of these stocks. The average is the price in the last cycle . SII, average 70-75, today 62 TDW, average 40-44, today 37.5 WFT, average 50-55, today 45 Sorry folks, but my indications are these stocks are full of AIR! Nothing fundamentally to hold these stocks at these levels, and a 30% retracement from here is conservative. Others that have had tremendous moves over last 2 weeks, w/ light volume..NBR, NE, SLB and RDC I will wait patiently for tuesday's API, then I will add to all current shorts. Currently only .30% net short. Jim. P made a very interesting observation regarding the Crude pits and NG. The fact there are so many shorts in the futures could actually help hold the market up. Nervous shorts are covering on fridays, but I noticed today it was very very light. Does anyone believe we could have NG builds in next several months? History say 50% chance. Again, it pains me to be the contrarian here, and I hope noone takes my OPINION as anything other then that. I still think in the big picture, we will have MOABO ( mother of all buying opportunities) in the OSX in the next 3-6 months. Good luck all!!