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Politics : Welcome to Slider's Dugout
GDX 32.76-1.5%Jan 26 4:00 PM EST

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To: anyer who wrote (248)7/23/2005 10:28:10 AM
From: anyer   of 41499
part 4:
Overall, the various components within the oil sector have earned Schaeffer's Equity Scorecard rankings indicating they still have some room to run. Not only do both the OIH and XLE rate a 7.0 out of 10, but the average score for individual stocks stands at 6.5. With several of the indices and ETFs testing key support levels and pessimism lingering near extremes, the oil services sector could prove to have a few pockets of strength left within it.

I'll end with some insight from market guru Jeremy Grantham, who said in a Financial Times piece on Wednesday that oil has undergone a paradigm shift rather than experiencing a bubble. He concludes that those who want to short the sector "should not be frothing at the mouth until it hits about $80." That's about 40 percent more than current prices.END

IMO bull will not end until shorts capitulate.Don Coxe says that those who see a bubble in oil must be like Hannibal as he crossed the alps and kept seeing peak after peak.
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