Telemarker,
Slowly, slowly we are assembling some wisdom over here, under the general radar. Very nice to see you here on "Cheers." I just scrolled through some postings on the other thread; too much bandwidth wasted there for me.
I'd have to say I believe in the tech story, long term, because I believe in the power of information; it is my opinion that information must be stored, and is nothing if not shared, and next to nothing without speed. Many of these companies outran themselves but I can't see a future where we aren't using more computers, newer computers, more bandwidth, more memory and storage. Tech will be a great buy as a value play (is that Naz 2100, 1800 or 1650?) and a great ride up through "growth" multiples to nosebleed land. All it will take is some real capitulation and some real liquidity--the market will be read with a short memory.
(Btw, wasn't it ironic that a tech purchase sank SLB's stock on Friday? How the worm turns.)
Similarly I can't see a future where we are not using fossil fuels. I think our multi-year boom in oils is on-going but it's not going to be anything but a bumpy ride along the way and I doubt we'll see triple digit annual gains in any of the stocks I'm holding/looking at. I do think that RIG at 80 and NBR at 90 will be clear signals to leave the fairgrounds.
I can't understand the gold argument except as a fear argument, someone else will have to make their fortune in gold, with all my good wishes, of course.
Kb |
