Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: jbe who wrote (19346)	4/16/1998 2:11:00 PM
From: waverider	Read Replies (1) of 95453

>>Seriously, now. I'm no historian of the market, but I've heard of tulip crazes and such. It looks to me as if the U.S. market right now is being driven by tulip-craze-type speculators, not by investors looking for real value. Maybe it's time to get out. Any thoughts?<< Excellent point. That is the one thing that really spooks me. This is one reason I feel a bit safer in the oil patch. Value. However, I think we'll do the usual sector rotation rather than a complete market meltdown. Sectors way overvalued right now will be hit hard, but I sure don't know when...which is why I wouldn't short 'em. The greater fool theory is operating big time out there.

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