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

To: articwarrior who wrote (31917)	11/18/1998 10:47:00 AM
From: SliderOnTheBlack	Read Replies (5) \| Respond to of 95453

Shorts pouring it on..... wanting a ''shakeout'' imho. Watching the tape; the trades look like the shorts are making a run here; a little deja vu anyone ? They shorted Crude futures heavilly off of the Iraq crisis subsiding, now shorting the Oilpatch imho, to ''shake-out'' the weak hands; then watch them turn on a dime here - perhaps on Friday... and go long again. I know it's not a popular strategy, but I still say strongly buy into this selloff in a series of buys - averaging in; we've been here & done that twice recently - 3rd time a charm ? - Will we begin the march upward with crude moving upward in it's traditional Winter move ? With OPEC's meeting, a still tense Iraq situation and crude futures shorted back down to record lows - I see some shorts taking profits & covering here soon. The fundamentals do not support lower crude price trends here, a high degree of trading influence has pounded crude down artificially low imho. We will see the traditional Winter moves here. Good time to set price targets; ie: FGII @ $14, $12 & $10 - in a series of buy-ins. RON looking real cheap here - C'Mon $23-4 and there is virtually ''free money'' there; WFT sub $20, VRC sub $8, GLBL sub $7 etc. Risk vs. reward @ these price levels are too good to pass up once again. The market is literally handing us these trading ranges on a silver platter imho. - just do it & take what they are giving us ! Is the World in better shape today and do we have more information today in which to buy these on a blow off again; versus say the Sept 1 or Early Oct blowoffs ? I certainly feel better buying these for the 3rd time in light of both the prior run-ups and the Fed Cuts. Now, if OPEC has a little surprise for us...