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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: John Carpenter who wrote (32166)11/27/1998 9:21:00 AM
From: marc chatman  Read Replies (1) of 95453
 
John, I understand that, and that is the logical, fundamental-oriented way to look at the sector.

My point is that today, as opposed to the mid-80's, there is so much liquidity that even the worst companies, and sectors, fly high. Yes, OS can and should get pummeled as oil drops to single digits. But will it? I'll bet the sector pops up at the open. After that, who knows? We could see money start chasing these stocks. Then, we start to see analysts say things should improve in late '99. (Why that makes a difference this week, as opposed to last, is beyond me.) Well, you know how this stuff gets pumped.
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