Slider,
Good summation of what I think is the majority view on this thread. The problem, I believe is one of perspective. If an individual is looking to buy stock today, and doubling tomorrow, this sector is not the place. Most on this thread are looking to buy in at the bottom of a cyclical turn around, that will pay handsomely, OVER TIME. We realize that for now all we are going to hear is about cutbacks and decreased earnings. To those looking for a quick profit, it ain't going to happen, although there are a number who intend to trade during the manic depressive swings that are sure to occur during the next year or so. Most recognize, as you do, that the bad news we are hearing today is the result of low prices, not the cause. In fact they mark the initial steps that will lead to the next cyclical recovery. "The best cure for low oil prices, is low oil prices." So what we have is a failure to establish a common term of reference. Those who want to point out what we all know, and who see this as nothing but doom and gloom should really put their money where they feel more comfortable. Most on the thread realize, from our longer term prospective, that these things will lead to the recovery, and much larger than average returns. If we could read the future, we would buy in the day before the recovery, but we can't, so we buy in and wait it out. History is on our side.
Mike from La. |
