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: marc chatman who wrote (25381)	7/9/1998 4:56:00 PM
From: waverider	Read Replies (2) of 95453

Well, looks like the cyclical story is playing out once again. Just because a cyclical stock has a low PE, that seems only to mean to STAY AWAY. Once these companies start to loose money and the PEs get high again (by earnings erosion NOT price appreciation), then it will be time to step up to the plate. My take is that this is a slowing demand for oil due to global slowdowns...not a oversupply induced slump. Just stopping by for a visit. Frankly folks, turning off the computer, dumping one's stocks and living for a change without ulcers is quite a joy. From the looks of things, the market is setting up for one huge correction IMHO. All that is driving this appreciation is the money inflow from payroll deductions and overseas safety search...it is NOT quality of earnings. When the liquidity dries up... Carry on... <H>

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