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: Second_Titan who wrote (80345)	11/29/2000 7:59:53 PM
From: Telemarker	Read Replies (4) of 95453

Questions for the thread. Commodities traders versus equities traders. "The market always knows". Which market?, and who knows best when there appears to be a difference of opinion? We're all aware of the continuing divergences between energy commodity prices and our beloved energy sector shares. Which camp should be given greater weighting when trying to predict the future of the industry?? Could it be that commodity traders are clueless as to what knowledge many energy equity traders have been acting upon lately? Could the dumping of energy related equities be mostly the result of tech related margin calls? Why am I able to buy E&Ps at 2X cash flow and 5-6X earnings, which results were achieved with realized prices below $3 for gas and low $20s for oil, even if some of these producers are straddled with rotten long-term hedges. Is the marketplace for these shares really efficient? To be sure, these are fundamental questions but ones quite worth revisiting at this time, IMO. What's your take? All comments appreciated. Warm regards

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