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Strategies & Market Trends : NEW Market Gems - Swing and Day Trades
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To: Jenna who wrote (648)6/5/2001 7:52:42 PM
From: Jenna  Read Replies (2) of 1227
 
So what is happening to oils? Its actually ridiculous with fanastic earnings from FTO and OLOG that they could have retreated today, but my feeling is that the oils will have their day in the sun, probably even better than the biotechs/pharmaceuticals have even now. Its typical of the 'technology envy'...No one wants to miss the so-called rally in the technology sector. Still we have dozens of oils/energy companies reporting starting early July and its UNLIKELY they will remain compromised in favor of the technology sector for long. Techs might do okay, and we will make the occasional foray into the technology sector for the daytrade or even a swing trade, but the oils are here to stay and the earnings ARE very strong AND WILL remain STELLAR. So I would give serious consideration (and we will be doing that in the next few weeks) into taking positions in the oil service and energy sectors.
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