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To: 007 who wrote (5722)12/2/1998 9:22:00 AM
From: Lucretius  Read Replies (1) | Respond to of 14427
 
"close?" (GGGG)

gold stocks should rise as the dollar falls because the POG will rise. As the decline reaches the latter stages... yea everything will be sold in an attempt to raise cash, but the golds will just be sold because they will likely make huge moves in response to gold prices moving up above $300.

I think the drillers have lower to go. Even if crude bottoms right here, it won't be above $17 for years... death to the drillers.



To: 007 who wrote (5722)12/2/1998 2:47:00 PM
From: R. Gates  Read Replies (2) | Respond to of 14427
 
007, you said, "Crude looks ready for a big-time bounce..."

Exactly why would that be? Because it's so low? Supply/Demand says oil will be lower/lower until at least the last part of 1999. OPEC members have already started price cutting each other and IMO, oil will rest somewhere around $6 to $8 very soon.

If there is a bounce in oil, find out who killed the cat!

R. Gates


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