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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Canuck Dave who wrote (15565)	8/4/2003 1:17:04 PM
From: A Horse With No Name	Respond to of 39344

canuck you are right i had PMT in my account as well got stupid and sold it the day it dropped,at 8.9 CAD. since then it has rebounded to 10 where it stands now,add to that the missed dividends and i should have been almost breakeven. puplava had mentioned that you get 14% while you wait. and the key is WAIT. they go up and they go down but over the long run (some people have held for 10 yrs and more) they have been paid for their initial investments and more. as i see it the future for oil and gas prices is very bright(commodity)according to some of the best minds out there. to name a few rogers,Faber,puplava, and here is a post i read the other day on another thread by heinz blasnik : Fri Aug 01 2003 12:21 trotsky (P.Yorkie, 10:50) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved you are of course right that oil prices are really not all that high in real terms. but that imo mostly indicates that they can easily go a LOT higher. also, during the 90's, the US economy got used to extremely low prices, and at the lows ( around $12/bbl. in '98 ) the general expectation was that an alleged 'glut' of oil would take prices to $5 ( there's a now famous Economist title story containing that prediction that appeared in the very week the low was put in ) . so you have industry woefully unprepared for these higher prices ( note that after Iraq, prices were once again widely expected to fall ) , and with no-one expecting even higher prices, i'm reasonably confident that that's exactly what we're going to get. my medium term target for crude is $45/bbl., and longer term i'm looking for $60. actually i am trying to get my dad to invest in these trusts but am afraid of the risks (as you mention)for him because of his age. still debating it though.