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To: Crimson Ghost who wrote (43566)4/30/1999 9:00:00 AM
From: Wallace Rivers  Respond to of 95453
 
Thread (and this is not addressed to you George, but the entire thread - your's was the last post):
Others have mentioned this, but this used to be one of the most civil threads on all of SI, and that was when the great majority of us was losing money! Now that the vast majority of us is recouping losses or making money, why don't we stop the p*****g matches going on, get egos out of the way, and get back to the theme of posting valuable insight and opinion.



To: Crimson Ghost who wrote (43566)4/30/1999 9:06:00 AM
From: Gary Burton  Read Replies (1) | Respond to of 95453
 
George--We 'have to' get to at least 85 sometime to validate the bull mkt since Wave 3 from 60.52 start should be longer than the 24 pt Wave 1 which started at 47ish and peaked at 71/72....The only question in my mind is do we do it now in one fell swoop or do we retrace a bit first? A retrace now would probably fuel a stronger thrust once we get up there, as it would provide a refueling point from which to rev the engines again. At the moment, I'm still on the side of a retrace since we have now done 5 waves up from 60.52...I call that wave (i) of Wave 3...soon see.



To: Crimson Ghost who wrote (43566)4/30/1999 9:08:00 AM
From: WWS  Read Replies (2) | Respond to of 95453
 
George, the Fed's hand has got to be on the throttle (for possible throttle down move) after today's report on GDP (see URL below). Add to a "hot" economy the rippling inflationary effects of increased energy pricing and you've got two ingredients sufficient in their own right to cause the Fed to tighten, and to tighten soon. In your opinion, what are the implications for the oil patch assuming this scenario for the sake of argument?
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