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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: kodiak_bull who wrote (43903)5/11/2005 1:53:52 PM
From: profile_14  Read Replies (1) of 206326
 
Thanks for the update. I have mostly followed the OIH and I agree with your analysis. There are stocks within the group that behave differently than the sector and that intrigues me because this divergence will reverse itself at some point, but I tend to think that the majority of the stocks represent the feeling towards the sector more accurately than a couple of stocks behaving differently for whatever reason. At the end of the day, the changes need to be measured over time frames that are longer term I think.

Separately, I added to my steel stocks that many are so bearish on, specifically RIO and SID, at 27 and 17.70, respectively. It is a funny situation where we have enough inventories of oil and gas today (well above historical averages) with high prices and analysts are bullish whereas basic materials stocks are getting crushed despite there not being enough materials or ore around and prices having just risen 72% effective April 1st. Capacity will be added but it will be years before it comes on line. The dichotomy is interesting and I almost want to do a pairs trade being long a basket of ore and steel stocks and short a basket of energy stocks or service stocks of sorts. Have to give that some thought.

Best regards,
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