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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: upanddown who wrote (37625)2/16/1999 9:44:00 PM
From: John Carpenter  Read Replies (1) of 95453
 
John, your posts made some very good points. Perhaps by being
so focused on the timing of my reentry into the sector,
I'm missing the bigger picture- namely that oil will see
better days. Since timing the reentry point is so difficult
and probably impossible for most of us(certainly myself),
it may be prudent to begin tiptoeing into the sector.

Mark noted the increasingly bearish sentiment on this thread also.
From a risk/return perspective, we're probably closer to the
bottom than the top. The bad news about this sector is very
widely publicized. Perhaps when it seems, like today, that the
bad news is never fully reflected in the stock prices, we're
getting close. By being so obseessed with the exact bottom,
I may be missing the forest for the trees. I just hope we
all don't wind up like gold stock investors where there truly
is no hope! No, gold is down and staying down for many reasons
of its own, many not directly related to oil.

Here's to tiptoeing.
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