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: BigBull who wrote (81048)	12/8/2000 11:17:19 AM
From: upanddown	Read Replies (1) of 95453

From the S&P OUTLOOK DECEMBER 6, 2000 Three energy stocks raised from four to five stars BJ Services/BJS, National Oilwell/NOI—Oil & gas prices are expected to remain high, leading to a favorable outlook for these oil services companies. Exxon Mobil Corp./XOM—Oil giant’s shares should be a safe haven in market turmoil. TXU Corp./TXU—Energy company’s shares attractively valued at about 11 times our 2001 per-share earnings estimate. Current yield of 6.2% is a plus. About the NAZ bear..... NASDAQ GIVE-BACK IN LINE WITH FORMER BEAR MARKETS At the low last week Nasdaq had given back 2,450 of the 3,630 points gained during the entire preceding bull market from October 1998 to March of this year. This 67.5% retracement is now in excess of the 60.6% average give-back in seven preceding Nasdaq bear markets since 1978 and could suggest the end of the bear market is near. The prudent course at this point is to wait for tangible evidence of a turnaround before committing additional funds and to continue emphasizing the less volatile stock sectors. But we would prepare a buy list that could be acted upon quickly. Looking six to 12 months out, upside potential appears to far outweigh downside risk. John

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