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

To: Ed Ajootian who wrote (37150)	12/5/2004 8:04:27 PM
From: jim_p	Read Replies (2) \| Respond to of 206175

Ed, I am bullish longer term, but as we all know corrections/cycles always go to extremes. Even with the lower dollar, oil in the mid 30's and NG in the high 3's would be a conservative prediction. Switching is limited and having oil and NG prices out of sink is not all that uncommon in prior periods. Cycles are currently shorter since technology tends to get more more oil/gas out of the ground in the first 6-12 months of a wells life, but total reserves are usually unchanged and the rate of production drops off faster after the initial production in the early life of a well. This also helps create the cycles since we end up with more flush production in the early life of the wells. I would stick with the institutional favorites for any shorting. Jim