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Strategies & Market Trends : Waiting for the big Kahuna

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To: bearshark who wrote (34496)	11/29/1998 4:15:00 PM
From: bearshark	Read Replies (2) of 94695

One of my favorite industries has been the oil service sector. It has been easy to gauge since it began its bear market in November 1997. It traded ahead of and with the fundamentals for the most part. The chart below shows the NYMEX crude oil price since November 1997 that affected the stocks indirectly. oilworld.com The price of crude affected the rig count and that directly affected the oil service sector. The rig count chart is below. bakerhughes.com Below is the OSX--oil service index-- that I thought showed a completed bear market with a puny third leg leading to a bottom of just above 45. However, maybe it is working on its third leg down now. Maybe into the 30s? I think worse fundamentals are still ahead for this industry. 207.95.154.130 So when does one buy these beaten-down stocks. Below is a chart of crude prices since 1981. oilworld.com By looking at the price of crude and looking at the price of these stocks, it is hard to see a direct relationship between the price of oil and these stocks. So what part of the 1997 stock prices reflect a mania? Are the stocks a good buy now based on their historic pricing? Or will buying now result in poor returns over the years ahead. 207.95.154.130 207.95.154.130 207.95.154.130 207.95.154.130 207.95.154.130 207.95.154.130 207.95.154.130 207.95.154.130 207.95.154.130 207.95.154.130 207.95.154.130 207.95.154.130 207.95.154.130 207.95.154.130

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