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Strategies & Market Trends : Natural Resource Stocks -- Ignore unavailable to you. Want to Upgrade?

To: jimsioi who wrote (11326)	5/15/2004 10:20:53 AM
From: schzammm	Respond to of 108726

jims <usually a sign of a top... The reason I pulled the plug on most of my CL and NG stocks is more of circumstance than any technical and fundamental stats. IMHO crude oil already has priced in all the news the talking heads are spewing. Without oil at current prices NG would be considerably lower(based on storage level being higher than last year and almost back to the 5 year average). I am not saying there isn't an energy problem that is going away soon. I may also be off base in that finally everyone including the analysts are starting to figure out that higher prices are a fact and we are not going back to the historical lower prices. So the stock prices do not reflect this and may be given higher multiples. However it will be interesting to see how stocks react "if" energy prices start declining. Alarm bells go off when I start hearing "this time it is different". I just remember during the last energy crisis in California electricity demand temporarily dropped about 10%. Amazing what high prices can do for conservation.