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Strategies & Market Trends : Strictly: Drilling II

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To: Paul Shread who wrote (1526)9/13/2001 2:51:40 PM
From: Crimson Ghost  Read Replies (2) of 36161
 
P/E's in cyclical industries are always very high at the bottom as earnings shrink or vanish. Oil service is a good example. P/E ratios were much higher at OSX 50 than now at OSX 80. The key question is what are P/E ratios assuming normalized earnings?
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