***OFF TOPIC***Yogi, I've been getting into the home building stocks, rather than the oils. Building stocks are normally supposed to be bought early market cycle, rather than late market cycle. But they are insulated from the Asian problems, helped by low interest rates, and the current earnings outlook over the next quarter or so is very positive (which could change tomorrow, of course. But I am referring to recent backlog figures at many of these companies).
I'm a slow learner. But I can't see beforehand how far these oils (like BHI or HAL, or PTEN, which I used to hold) can drop.
Of course, the same is true of the builders or anything else. I have no idea if they will go up or down. But the builders have low PEs and very positive earnings outlook for the next two quarters, at least.
And they don't have the problems with obsolescence that many tech stocks do.
Regards,
Larry
PS: The international problems are supposed to be a favorable factor for the builders, in that they will encourage low interest rates in the US (by Alan Greenspan, who won't want to worse the Asian problems further). |
