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Technology Stocks : John, Mike & Tom's Wild World of Stocks
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To: wlheatmoon who wrote (1595)7/22/2000 1:39:36 PM
From: Logain Ablar  Read Replies (2) of 2850
 
Mike, John & Tom:

If you go by the theory we are in a bear market which started in March and we are only in a bear market rally which will last into / around election time (I hope it doesn't start earlier) you may want to start looking at some defensive stocks. One John and I discussed was Burlington Resources as a natural gas play. The PnF chart looks s**** but I like it at this level after last weeks selling. $31 is a good entry price and when you consider they renew contracts this fall at this years levels (more than double last years levels) its earnings should be pretty good for the next year or so (after that will depend on natural gas prices and other market forces) starting with the 4th quarter.

I think the markets made a mistake with this one where gas prices have peaked but natural gas has not.

PS Mike I was lucky on LU. John and I were discussing it @ around $54 and I was going by the PnF chart at the time. I beleive he asked if I would be a seller at that point. I was just cautious, something I'm not known for. It ran into the 60's from there and subsequent to our conversation the chart indicated a reversal. I bet many were caught in the reversal trap.

Just shows how difficult it is to pick the right stocks.

Tim
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