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Strategies & Market Trends : Three Amigos Stock Thread

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To: Ditchdigger who wrote (9820)	10/25/1998 8:36:00 PM
From: Sergio H	Read Replies (2) of 29382

<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.> DD, I was referring to the price of oil hitting short term lows during the week. The OSX measures the oil drillers. There are a few sub-sectors within the oil industry, and somehow gas stocks like ESV get thrown into the mish-mash. You're correct about the oil drillers being priced at low PE's but you need to look at the earnings growth as well. Here's a brief summary of the oil sectors, their avg. PE and their respective 4th Q earnings estimates in comparison to the prior year's earnings, and some stocks in each sector. Pipeline PE 20 4% growth quote.yahoo.com Drillers PE 10 -22% growth quote.yahoo.com Refiners PE 14 Growth 15% quote.yahoo.com Independent oils PE 43 Growth -90% quote.yahoo.com Major oils PE 23 Growth -25% quote.yahoo.com Oilfield Equipment PE 16.4 Growth -20% quote.yahoo.com Pipeline PE 20 quote.yahoo.com

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