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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: The Jedi who wrote (2106)10/14/1997 11:02:00 AM
From: Timelord   of 95453
 
In studying the technical charts as I learned from Thean some time ago on this thread, the entire sector is extremely overbought and due for a rest/correction. You are correct in that most of the earnings expectations are already built into todays prices, and then some. If you are a long term investor, don't watch for the next week or more, as you're in for an elevator ride. All of the stocks should resume their price appreciation after the correction. Patience is called for. I would not be a buyer at these levels, however, and would wait for the dust to settle. I had six drillers from the last correction and locked in gains from all of them. Have lots of cash for the next move up. JMHO.

Alex
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