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Strategies & Market Trends : Three Amigos Stock Thread

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To: Sergio H who wrote (9817)	10/25/1998 6:53:00 PM
From: Ditchdigger	Read Replies (2) of 29382

bigcharts.com <* Oil prices hit short term lows last week and rallied to close the week. The trend remains down and the fundamentals haven't changed to indicate that the oil sector may be ready for a reversal. Stocks tend to remain in a trend for much greater periods of time. Why fight the trend looking for a bottom in the oil sector ?> Sergio, please elaborate,as you can see from the one month OSX chart, the trend is not down, in fact it has been up and the sector has led the market in gains since bottoming.Short term it has reversed. Will it hold,damned if I know. But these companies are still making profits(most) and have plenty of cash, their PE's avg. around 10 compared to the PE's you mentioned. This sector is perceived as being defensive, and for now it appears strong bottoms have been put in (many double bottoms)..Granted things are slowing down but, there are many countering factors to consider...IMO DD

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