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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Proud Deplorable who wrote (26529)	3/7/2005 1:07:08 PM
From: Taikun	Read Replies (2) \| Respond to of 312304

Ralph, Looks like a bout of profittaking to me. We're still in the middle of retirement contribution season and many folks don't contribute until after their tax refund. When they do contribute, they're rebalancing their portfolio and rotating into energy. I think some people are worried about a double-top in energy. Well, maybe S-T they should worry. A little longer out we'll be back to the same old story of energy companies not replacing reserves, Saudi fields in decline and oil stocks flush with cash. Today oil is off 50 cents and people start to freak out. Well most analyst targets have been set at $32 oil. For example, at $52 oil, WTO.TO has a target of C$140 (Lehman, Feb 7/05). On sale for C$63 today. LOL! Turn off your computer and go to the park if you have to. Sit on your hands. (Unless, of course, you want to daytrade this stuff) Cheers, D