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: JZGalt who wrote (21134)	5/2/1998 4:57:00 PM
From: Lucretius	Read Replies (4) of 95453

BTW-- <<<IMO, We are overdue for a really nice 8-10% decline in a bull market, but a bear market? We just aren't there yet despite the p/e's in MSFT, DELL, KO, G and the other new nifty fifty. Demographically, the boomers will keep pouring money into the market until buying the dips doesn't work. There is no evidence that that sea change in their attitude is about to happen. >>> I think the majority of people agree w/ you, that's why it will happen. If most thought like myself and the few remaining bears out there, we'd have a long way to go. Keep in mind, I just turned bearish over the last couple months. The public blew their wad in Oct-March period. Everyone is in. Cramer posted an article the other night about a conversation he had w/ a cab driver on whether to buy GLM or not..... GOOD GRIEF!!! He didn't recognize that conversation for what I do. he was focused on discussing the drillers. I say the real heart of that story was.... if a cab driver is discussing the merits of the offfshore drillers, this bull is near death. -Lucretius

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