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 (80591)	12/2/2000 12:36:50 PM
From: stsimon	Read Replies (2) of 95453

Not being a short term trader, the decline in the OSX is not that big a deal. We are in a primary bear market that is reducing the value of nearly all stocks. This sector still has value and will recover within weeks or a few months at best. Energy consumption will remain reasonably strong even in a recession. The high price of O&G is repairing the balance sheets of the E&P companies. This will allow them to increase drilling going forward. There are still many companies in the tech sector that have seriously flawed business models and whose stock prices are headed inexorably to zero. The are major telcoms whose staggering debt loads could result in a Penn Central type event. I'm not smart enough to know how much further down the Nasdaq will go, but I suspect we are closer in time to a bottom than we are in points.

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