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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Goldberry who wrote (8728)3/28/2002 11:59:56 AM
From: Kerm Yerman  Read Replies (2) of 24922
 
Hi Graham

Yes, I still consider this good general advise. However - there are exceptions and this year might be one of them. When the market view is favorable, buying just before the release of the annual reports is usually favorable - it sets the tone for investing in the first six months and is then revitalized with good 1st quarter reports. Just before school starts for the fall is a good point to take profits.

This timing also appears to work when the O&G sector is badly beaten down.

Now - the exception. When in unknown or weird territory, I take a wait and watch position. I think this is the situation for O&G companies this year. In relation to oil and gas pricing, I can't put my finger on a trend this time around. If anything, we might be on the high end of pricing at the moment - that's not good. Perhaps prices will stabilize - that's a strong possibility. I think major decision making should take place in late November this year.

This is a general review - applies to market sentiment of the O&G industry. There will be those exceptions whose shares will rise significantly because of operational success - and vice versa.

The big factor is the scare thrown into the market in general which can effect the O&G industry in a big way. The factor is ACCOUNTING. There is just too much room in the O&G industry to fudge or misrepresent financial status. You've got to wonder how a company loses 50% of their reserves overnight - as is the case of Rio Alto Exploration.

JUST MY TWO CENTS WORTH and just one person's opinion.
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