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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 229.78+0.3%1:56 PM EST
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To: SargeK who wrote (42425)2/25/1999 11:09:00 AM
From: Rob S.  Read Replies (1) of 164684
 
Thanks for the post - nice summary of your research. I am no expert on the oil and oil service stocks but this confirms what I understand: Although proven reserves and inventories remain high, a rebound in Asia is taking place and oil production is at the price level of being capped at the well-head. As with previous oil gluts and price declines, it finally reaches a level in which supply is reduced - it is no longer profitable to pump it. An associate follows this sector more closely than I. His talks with oil exploration and development companies indicates that many new domestic wells have already been capped and the industry is at the bottom. The growing concensus is that oil prices will at least remain stable through the summer and should start to pull up by the end of the year.

I agree that timing of a resurgence is difficult but now is an excellent time to start buying the oil sector. Markets usually start to move up prior to major shifts. With the blue chips and tech sector being priced beyond the upper extremes of historical norms while the US economy remains intact and foreign economies show signs of a slow but clear recovery, the oil and some other cyclicals will attract investment as investors continue to rotate out of the Internut and other speculative sectors.

Good job . . . I hope some of the raging Internet bulls take heed and diversify their portfolios - as Bezos suggested ". . .investors should only have a small portion of their investments in Amazon."
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