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: Art Bechhoefer who wrote (92683)	7/23/2001 9:41:31 AM
From: Sweet Ol	Read Replies (1) of 95453

Art, Never, ever, forget that energy is a highly cyclical commodity business. Long term trends are helpful to understand the basic pressures. But there are huge swings that result from short term supply/demand changes. I caution you not to get so carried away with the long term picture (which I agree with) that you lose a lot of money during the current down cycle. I am waiting until the cycle bottoms before taking a meaningful position. Take care, and good luck. JRH

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