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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Mike from La. who wrote (39904)3/14/1999 2:26:00 PM
From: Gary Burton  Read Replies (1) of 95453
 
Mike-Interesting note. My 2c is that the greed factor will ensure that a rising tide in stock prices will lift all 'boats'. It won't really matter which subsector sees earnings bounce back before the other subsectors. Greed will do its thing and cause the deeply depressed shares to rise fastest and farthest %wise, regardless of which subsector they are in since everyone will be more than willing to look over the valley so to speak... Under this scenario, the ones with the biggest remaining bang for the buck are FLC,PDE,VTS,GIFI,IO,PKD,HMAR/TMAR, PTEN and MIND...These are the ones the furthest away from their Oct/Nov peaks...Only AFTER all the boats have risen will people care about which subsector is first in the food line imo. At the moment, I own FLC and VTS among the above group and will wait for a dip to buy into some of the others....As I see it, one way or another, virtually all of the osx issues will at least challenge or take out their Oct/Nov peaks so why not simply choose the laggards? (KISS principle at work)-----This does NOT mean that I am bullish longer term on the OSX, just that I think the current rally has more to go--enough to get all up to their Fall/98 peaks.... I do not for a moment rule out new lows ultimately. The jury is still out on that issue.
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