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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Flan who wrote (14231)	3/9/1998 5:47:00 PM
From: Lucretius	Read Replies (1) \| Respond to of 95453

Flan, the OSX will bottom before crude, but the OSX will not break out of its trading range until crude begins moving up. I hope everyone realizes this. -Lucretius

To: Flan who wrote (14231)	3/9/1998 9:39:00 PM
From: GlobalMarine	Respond to of 95453

The one thing that many people do not know is that you cannot fight the tape. We, the people, cannot individually make a trend; we can only follow it. I took profits at the highs of last year because the picture at that time seemed absolutely perfect and couldn't get any better: low interest rates, world economy growing, crude demand high, evil empire gone, earnings growing, oil-drilling stocks all the rage, etc. Crying foul at people who had sold or are considering selling or are bearish doesn't change the fact that stock prices have fallen; you can argue with people but not stock prices. So now I'm looking for a new buying opportunity because things are starting to look bleak: crude prices below the psychologically important $15 a bbl, bearish sentiment to the energy sector, Asia implosion, some new rigs being built, low PE ratio, low stock prices, OPEC can't reduce production, etc.