Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: SliderOnTheBlack who wrote (53104)	10/17/1999 10:13:00 AM
From: Crimson Ghost	Read Replies (3) of 95453

Slider: I suspect we are very near A SHORT-TERM BOTTOM. PROBABLY MONDAY OR TUESDAY. But I do see us going significantly lower after a nice bounce. What worries me about this market is the tremendous overvaluation and speculation in the high tech sector. Even the President of Microsoft has stated that the tech stocks are way overvalued. Indeed a good case can be made that the tech stock bubble is a key reason why so many other sectors are floundering. This bubble must be broken decisively before a new bull can commence. The rest of the market is in much better shape. Many stocks and sectors have been in bear trends for some time, and probably are not far from major turns. My strategy is to stay primarily in cash with some investments in bear funds, energy funds, and gold funds until the high tech NDX breaks decisively.

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