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Pastimes : The Philosophical Porch -- Ignore unavailable to you. Want to Upgrade?

To: Larry S. who wrote (2718)	3/17/2008 11:32:42 PM
From: Oblomov	Respond to of 26251

Good thing the government broke up AT & T, huh?

To: Larry S. who wrote (2718)	3/18/2008 9:07:37 AM
From: Rarebird	Read Replies (1) \| Respond to of 26251

Yes, Larry, the end of the Nasdaq 100 Bear (from March 2000-March 2008) may be near completion. Fundamentally, it's hard to make that case when the economy is in the heart of darkness. However, oil is poised for a collapse very soon and with energy prices poised to plummet more than 90% from current levels in the future, the tech stocks may just do it. I'm basing my view upon the very large long term diagonal triangle pattern in the price of oil. One of the tenets of Elliott Wave Theory says that the entire pattern will be retraced to its beginning point, which was under $10/bbl. What will cause this collapse? The abandonment of Oil as an energy source. Oil has excellent uses, but burning it is not one of them. Alternative energy projects that are nearing fruition will give the economy a cheap source of energy and obsolete oil, much as whale oil was obsoleted.