SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Strictly: Drilling and oil-field services
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Snowshoe who wrote (33483)12/24/1998 11:52:00 PM
From: John Carpenter  Read Replies (2) of 95453
 
The integrated major oil companies are being ruthless in
cancelling firm contracts and cutting expenses. Asian demand
isn't returning anytime soon. OPEC is effectively dead as
an institution. How we get to $17 oil under these circumstances beats the hell out of me. Much ado is being made about a new year
and the absence of tax loss selling. This sector's fundamentals
will be no better on January 4 than on December 31. Unfortunately, in the near term, it looks like dead money at best, a slow sustained drift downward at worst. Who knows, maybe ten years of baseing?
This sector offers no justice. Maybe you get a good year or two
out of an entire decade. Some say the cycles are shorter now and
the good times are just 'round the corner. Unfortunately, it takes
a real stretch of the imagination to see anything good happening
anytime soon. For those overweighted in this sector, I'm sorry
if your Christmas is spoiled. I've been there, done that and it
sucks. Especially when you think about the internet momentum
boys and the riches they've amassed. Forget about PEs, book value,
value investing. All that matters is if you're in what's going
up on any particular day. And it ain't the value stocks. Forget
what the professors told you.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News