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

To: energyplay who wrote (34273)	8/9/2004 2:18:55 AM
From: schrodingers_cat	Respond to of 206325

Markets are close to a lot of support levels and this looks like an excellent place for a bounce. S+P has minor support at 1060 and there are several more minor supports down to 1000. Nasdaq is putting a lot of pressure on it's support but hasn't broken it decisively. It had better bounce on Monday. A further move down and a close beneath 1760 would turn me very bearish. I really don't think that will happen. For OSX I would put a support zone at 102 to 104. It will probably bounce this week along with the rest of the market. With the jobs report and $44 oil priced in I think the markets are near the bottom of their slide. We may bounce around at the bottom for a week or two before a lasting recovery takes hold.

To: energyplay who wrote (34273)	8/9/2004 7:37:47 AM
From: Ed Ajootian	Respond to of 206325

Thanks eplay, very helpful. I am concerned about drilling delays also. I would like to somehow get comfortable about the project being drilled in the next 3-6 months, if not I would probably not invest in it. I know I am late to the game but IMO even paying the higher prices for drilling I can make some money as long as I do not pay a higher promote than is normal for the industry. I'm pretty sure MA has no special rules about O&G, but will check, thanks for reminding me.