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

To: Think4Yourself who wrote (36220)	1/29/1999 2:37:00 PM
From: SargeK	Read Replies (1) \| Respond to of 95453

Supply and Demand "Anyone know why GLM is getting hammered on very heavy volume??" Short Answer: NO Value Investors are temporarily outnumbered by impatient hands holding hot money - throughout the sector. As the dollar trends down against the G10 in a background of an improving Asian economy and predictable cuts by OPEC in March, we should see a major trend change in Energy Prices within 2 to 6 months. The margin between supply and demand is a narrow one and a slight change can lead to significant price volatility in the short run and a major change in trend - intermediate/long term because in a word "PSYCHOLOGY". I predict the energy sector will produce very positive surprises this year. If accurate this does not bode well for the overall market which has been riding a tidal wave on low energy prices which have kept inflation in check. A tick up in inflation can change the Dynamic in overall market behavior. The first tangible clue will probably be seen at the gas pump. The difference between $12 and $24 WTI crude is narrow margins and psychology. K