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

To: Crimson Ghost who wrote (36988)	2/7/1999 3:04:00 PM
From: Gary Burton	Read Replies (2) \| Respond to of 95453

George-re oil price hike surge coming--This would be in keeping with Elliott as I read it because I think the END of the decline from the spike high into the $40's many years ago is very close at hand and has either already happened in dec when Jan crude got to 10.35 or is about to happen with the current slide now. Ideally,from an EW perspective it might best print or slightly undercut the mid 80's low of 9.75 but we might base out above 10 in what is known as a 'failure' (count 5 waves down but refusing to touch the old low by a hair on a long term chart basis)---From whatever low is put in from here, the LONG TERM direction of crude should be UP. It need not get back to the 40's and may only top out in say 25-30, but it should provide a major ride for osx stocks. Bottom line--the long term EW count would be in sinc with these Academics' thesis in my view and I'm sure none of the academics knows or cares anything about elliott wave concepts.