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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Gottfried who wrote (6102)1/21/2002 12:00:15 PM
From: jim_p  Read Replies (1) of 206209
 
Gottfried,

Many of the oil stocks are showing to be over sold.

We're now down to where we were in the fall of 1999. A dip below 70 is about the best I can hope for. Granted it went lower in the spring of 1999 but, that was off of $10.00 oil with perception going to $5.00 when money was going into tech stocks, there was a larger surplus of both oil and NG and the balance sheets of most oil stocks were in bad shape. Even if oil dips to the 12-15.00 range, we won't see the same perception for oil stocks that was in the market in the spring of 1999.

I still feel OSX 58 was the bottom, and 65-70 will be a gift.

JMHO,

Jim
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