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: BigBull who wrote (73164)	9/12/2000 3:54:58 PM
From: ItsAllCyclical	Read Replies (2) of 95453

Techs - Between tax selling, high energy costs, a weak euro, negative momentum, and high growth rates/multiples already built into the shares prices...owning tech seems downright scary near term. We can always get a ST bounce, but too many risks for me. There are selective issues that look dirt cheap, but doesn't mean they can't get cheaper. Yet every night I turn of Bubblevision and some analyst is predicting that techs will rally to the mid 4000's by year end. It seems almost unanimous. Let's see what happens to the herd mentality if techs cross 3500 again... --------------------------------------------------- At the same time, the euro has been sinking. The profitability of American companies doing business in Europe can come up short when earnings in euros are converted to dollars. Just Monday, Goldman Sachs downgraded IBM, citing the negative effects of the weak euro. cnnfn.cnn.com

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