Replies to post #454245 on Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

Oil execs refuse to testify at U.S. Senate hearing

WASHINGTON (Reuters) - Officials from six major oil companies have refused to testify this week at a Senate hearing looking into whether oil industry mergers in recent years have made gasoline more expensive at the pump.

With oil companies reporting record profits from higher energy prices, consumer groups have complained that mergers in the industry have stifled competition.

Exxon Mobil said on Monday it earned $10.7 billion in the fourth quarter of last year and $36.1 billion for all of 2005 -- bigger than the economies of 125 countries.

http://www.raidersnewsupdate.com/lead-story70.htm

[Must Be Patient]

Hi Dan, I think the bottom line is to never lose one's core position in the PMs as we have clear long-term sailing based on fundamentals. As long as we're doing that we can amuse ourselves on the margins to make a few extra bucks...

As for HGSI, I recall that last April/May Hulbert was concerned that as gold shares were dropping advisors were becoming more bullish, and concluded that they had further to fall. If I had followed that advice I'd be feeling pretty sad right now! I'd say it increases the odds that there's still a final blowoff move to come though.

[Must Be Patient]

My previous response was precisely wrong, as chainik kindly pointed out:

http://www.investorshub.com/boards/read_msg.asp?message_id=9532289