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

To: Mike from La. who wrote (28407)	8/26/1998 3:37:00 PM
From: Platter	Respond to of 95453

Oil closed off its lows at 13.57 (High 13.84 Low 13.36)

To: Mike from La. who wrote (28407)	8/26/1998 3:58:00 PM
From: marc chatman	Read Replies (1) \| Respond to of 95453

I'd probably have to spend a little time to draw up a comprehensive list, but the main negatives are: 1. Weak demand in Asia and potentially other emerging markets (my view is that many countries in Asia are in a recession, bordering on depression; the only cure is time and discipline; add to the mix South America, Russia, etc.) 2. The inability of OPEC to control supply. I've already posted a few times on game theory and group dynamics, and why a cartel comprising these diverse nations will not work. There has and will be cheating within the cartel. 3. Storage limitations (I really don't know whether this is still a problem; it certainly helped drive the futures into the ground the past few months). Don't get me wrong. I'm not completely negative. I think the positive points you raise are valid, and there are others, along with many unknowns, such as the weather, which could go either way. I am also not negative on many of these companies. I am, however, very negative on how the market has been treating these companies.