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

To: Broken_Clock who wrote (19851)	4/21/1998 2:24:00 PM
From: Chuzzlewit	Respond to of 95453

OT DOW puts soon???? I don't think so -- the market will probably just shrug it off because there will be no impact on long term interest rates. The Fed is currently fighting an illusory inflation. I believe that the last report showed that unemployment had ticked higher which relieved the prospect of wage pressure fueling inflation. If oil prices increase significantly, that's another story. Considering the fact that earnings for the S&P500 are growing much slower than they were a year ago, and the fact that most large companies feel they have no pricing power, I don't see where the inflation will come from unless we have a very rapid Asian recovery and we have a large increase in the price of oil -- say to $22. Then all bets are off. TTFN, CTC