John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (3811)	4/25/2001 6:59:18 PM
From: Hawkmoon	Read Replies (1) of 33421

Two theories on Energy stocks right now... The most traditional theory is that when energy stocks are the last haven in a bear market cycle and when they break we're close to the bottom.... (at least this how the gurus I listen to explain it). But I think we're facing a non-traditional circumstance here with the current energy shortages in California. It's been years since we've seen any form of energy related exploration/production cycle. Yet, we've been growing the rest of the economy at rates that the energy infrastructure cannot support. That tells me that this time "it's different" with regard to energy. And this is further strenghtened when I see liberal newspapers like the Washington Post writing fair and objective, if not positive, articles about how Nuclear Power is making a revival. This energy boom could go on for some time... Either that, or the economy is going to have to go into recession to bring energy costs down, thus breaking the earnings momentum of the sector. Thoughts? Hawk

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