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

To: kodiak_bull who wrote (13847)	10/10/2002 7:08:48 PM
From: kodiak_bull	Read Replies (1) \| Respond to of 206361

Well, here is a contrary technical opinion. Bensignor has some pretty good credentials as a technical analyst, so he's not someone to disregard. Reuters Business Report Morgan Stanley: Stock Market Has Bottomed Thursday October 10, 3:30 pm ET By Thi Nguyen NEW YORK (Reuters) - Rick Bensignor, Morgan Stanley's chief technical analyst, said the stock market has reached its bottom for the year, after the blue-chip Dow Jones industrial average (CBOT:^DJI - News) fell below its 5-year low Thursday morning. Bensignor expects to see a rally that is more sustainable than the 3-week long gains for stocks following the July 24 low. "It's not absurd to say the Standard & Poor's 500 (CBOE:^SPX - News) will go back to the 900 level again," said Bensignor. "That is 17 percent higher than the current level. I think that's doable." "I'm bullish," he said. Following the July 24 low, the S&P 500 gained 25 percent in three weeks. In a note sent out to clients early Thursday morning, Bensignor said investors should buy stocks when the Dow falls to 7200-7250 level, or several percent below its 5-year low of 7,286.27 reached on Wednesday at the close. "We believe that we are shortly to get one of the best buying opportunities of the year," Bensignor wrote in the note. "It may not exceed the 25 percent rally that stemmed from the July lows to the August highs, but it should be worthy enough of a 'glad I didn't miss that move' feeling." The Dow on Thursday morning at one point dropped to 7,197.49. biz.yahoo.com

To: kodiak_bull who wrote (13847)	10/10/2002 7:14:52 PM
From: quehubo	Read Replies (1) \| Respond to of 206361

The fundamentals are strong and improving with the Winter weather forecasts improving and near term Fall forecasts being cold for most of the NG demand area. I see many service / drillers trading 18-24 times 12 months FEPS with very strong prospects for 2004 as well. If we have a normal Winter vs the 100 year records warm Winter like last year, I expect storage to end at 700 bcf. Canada will not be able to bail us out like the last time NG prices hit $10. I expect that before the end of this year with a decent start to the Winter, the depth of the NG supply / demand imbalance will become much clearer. It wont be solved before the following Winter if we have a normal one this year. Your driller shorts can be real risky here with a rally (bear market or not), cold weather, peak storage passing, q3 production data release, and maybe increasing RIG activity. I dont have the time to trade that you may have, I am comfortable with the gains from here to OSX 135 with trading in and out of margin but usually staying fully invested.