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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: buckbldr who wrote (124979)	10/16/2009 11:50:26 AM
From: JimisJim	of 206181

Although I still have a toe dipped into the OSX pool via RIG, I tend to agree with Greenlaw in that we are overdue for a short correction in OSX before things heat up again sometime next year, IMO... I have been selling/shedding into strength of late and waiting for a pullback (with limit orders in) in the sector. The fundies just don't support continuing up, up, up in OSX here, but there you have it -- it just keeps chugging, but in OSX it is never a question of if, just when... so I am being very cautious here in OSX and energy in general except for those who are highly leveraged deep/utra-deep -- the only fairly stable segment of OSX of late and the only segment whose fundies, although somewhat soft, are credible enough to support valuations here. There is still a real shortage of deep/utra deep rigs... that will ease soon as more new-builds begin coming available... that shortage is one reason some operators/owners are going slowly -- one reason... there are of course others. Jim

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