Claude, prices are amazing. I spoke to my gas trader contacts today and they are "scared" of where prices are headed. Jan 2001 gas contracts are now at $10.50 / mcf, and the cold weather hasn't even hit.
The market will wake up... eventually. A ton of money is out of the techs now, as 95% of the high flyers have fallen back to earth. Many spec plays, as you know, are at 1/10 of their highs. And, they're running out of cash & time.
So, for those savy players who made cash on the techs, where else can they put their money? There's no compelling reason to put it back in the techs, and the resource sector, while unable to offer 5 or 10 baggers, can offer an easy 25-50% over the next 3 months - IMO.
But who knows? The money may remain parked until the techs become attractive again. Given the history of the resource sector (especially the Juniors), the risk/reward ratio may not be enough to attract today's investors back.
Hang in there. If nothing else, owning resource stocks should make paying those high utility bills a bit easier:)
JT |
