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

To: AltLar who wrote (26592)	7/27/1998 4:00:00 PM
From: marc chatman	Read Replies (1) \| Respond to of 95453

I must be watching a different market. Of course, not losing 5% today could be considered a cause for celebration. Big gains in crude, and merely a blip in the osx. This was the point I was trying to make to Slider. Money doesn't come out of the Nasdaq and into this sector; it comes out of the Naz and goes right back in.

To: AltLar who wrote (26592)	7/27/1998 4:03:00 PM
From: upanddown	Read Replies (2) \| Respond to of 95453

OSX up nicely going into the close Pretty much in sync with the Sept crude contract, which made a nice late move to 14.24, +.37. It seems like the OSX can only move up if crude moves up while if crude remains in the low-teens trading range it has been in for months, the drillers get crushed. The OSX is about 5 times the price of the current crude contract. It was at 7-8 times crude a couple of months ago. Like our Big Dog woofs, "Its the oil price, stupid". John