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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (65302)4/26/2000 1:46:00 PM
From: Think4Yourself  Read Replies (2) of 95453
 
Gee, techland appears to have rotted your brain. This is the build season. We are SUPPOSED to be getting a build.

Yes, we all know you would be taking profits now, but you already cashed in on your EnP's weeks ago, at lower prices. You rotated it into OS/OSX stocks, which have continued to decline as the EnP's have continued rising. Interestingly, the EnP's have been rising on mostly institutional, not retail, buying.

Producers are not raising budgets as many have predicted/hoped. They are paying off debt and buying back stock. That is now an indisputable trend in the industry. Drillers had priced in the raised drilling expectations. As a result they do not look good in the near term, even at these prices.

Good call on the techs though. Wish I had gotten over there a little earlier.
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