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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (77683)11/1/2000 10:54:37 AM
From: ItsAllCyclical  Read Replies (2) of 95453
 
** It's all about stupid people - stupid **

Nasdaq is paring it's loses. WorldCom hasn't been executing right for the last 2 years anyway. You go out to the Yahoo boards and despite the fact that they're bleeding from every orifice they still think it's merely a flesh wound.

For the last 20 years everytime someone bought a dip of this magnitude they made money. Today we had some bad news, but it won't take much good news to get things moving again. This mentality runs deep and it'll take time to "unlearn" imho. How many of today's investors have lived thru a bear?

It's only when we fail to make new highs and turn down again that the masses will truely question "buying the dip".

These are the same people who drove the Nasdaq to 5000 so don't give them too much credit about understanding valuation.

I agree with your fundamental analysis, but disagree on sentiment and timing.

On oily matters interesting quote from a Bloomberg article something to the effect that analysts are starting to question how accurate the reports are of increased OPEC production. They are also questioning the time it takes to ship oil to the US. Now wouldn't that be something if OPEC was "lying" yet again about production just like they "lied" about production at $12?
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