Bernie: I'd like to pick your brain on oil service stocks.
I've been active in the market for over a year now, up and down like a yo yo and it has affected my personality. Soooooooo, I came up with an idea for long term, boring, but perhaps a chance to make back the bucks lost and not have to pay attention. Hence, Oil service stocks.
Global Marine, Rowand Companies, Midland Oil (MRL), all selling for 1/3 their 52 week highs. My strategy, buy a bunch, sit back and check back in sometime in the future to find that they, have at least, doubled in value. OK, here comes the questions......
1. These stocks sold for under 10 bucks per share prior to 1995, what woke them up, and will they flounder for years at this level? What's your opinion on the future of the oil service sector, dead forever or what?
2. How long do you think the world will be dependant on oil? By time the prices rise, we might have developed electric cars and the big demand for oil may be a thing of the past. (glut continues forever)
3. Nextel as a long term investment? Not after the last three months. To think that I could have bought in at 15.5 scares me sober. In my opinion, Nextel should have withstood the market downfall better than it did. Anyhow, my wireless client in Podunk, is still raking in the money and he says that sats will be no competition to Nextel, they (the sats) can't perform the same service. He says that there is enough room for everyone, not to worrry. OK, so I won't worry. Jimmyo shouldn't worry either.
Appreciate your make of the oil service sector, also timing....
Thanks
Al G., thinking of how to get some Viagra into the market. |
