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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Hawkmoon who wrote (3815)4/25/2001 10:28:00 PM
From: John Pitera  Read Replies (1) of 33421
 
Right you are about there being 2 scenario's for energy stocks.

You know the markets are already wondering about the FED's potential of reinflating the economy,
that could keep crude, NG, and the distillates high, but it could bring down the multiples on the stocks.

I think that things are different in terms of the energy stocks.

Investors got so burned when they got long energy stocks in 1996-1997, by the big decline from Q4 of
1997 into Q 1 of 1999, that many have not invested as much of their portfolio's in the group in the past 18 months.

John
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