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 (78464)	11/10/2000 10:53:53 AM
From: ItsAllCyclical	Read Replies (2) of 95453

I for one haven't "blinked", yet... I protected my 401K money since I have to use broad market mutual funds and can't pick individual stocks. There will at least be another week of uncertainty and in that time the Naz could take out the critical level of 3000 on lack of buyers and marginal selling. NTAP, JDSU, JNPR etc show very little fundamental or technical support at these levels. Unless we rally soon on the Nasdaq there is a real risk for sub 3000 meltdown imho. I still have my oil plays (MVK and KEG mostly). I do plan on holding till winter, but if the Nasdaq goes sub 3000 I may just get out and watch from the sidelines. A Bush win which I see as the eventual outcome will rally the energy stocks - even if the win is delayed. Fundamentally, the election result shouldn't matter, but it puts the buying on hold and quite honestly that's the only thing holding up the Nasdaq. Valuation and earnings don't support Nasdaq 3000. Anyone watching WCOM? 15 now. Do I hear 12, 10? In the E&P's OIL is looking good, but I'd like to see the news first. No shortage of OSX doubles these days so while OIL is compelling at 25 it's no more compelling than KEG, MVK or others.

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