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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Snowshoe who wrote (40474)3/20/1999 1:06:00 PM
From: SargeK  Read Replies (2) of 95453
 
Markets running into an Oil Slick

I suspect the skirmish with Cooper/IBD is a small part of one battle being fought in a "Trillion Dollar War". What's at stake is a sector rotation of unimaginable proportions that is beginning to emerge in the wake of recent accords among the Crude Oil exporters. Investors in some of the high flying leaders within the Indexes will begin to smell real trouble looming and attempt to vacate the premises all at the same time. Like changes in the tides and the seasons, the rotation is inevitable. It is only the timing which lacks the clarity of almost precise predictability.

As the overdue correction begins to reveal itself, the herds of investors with stocks sporting triple digit P/Es will be headed for the exits only to find the doors padlocked. Those that survive the exodus will be looking for real values among the small and mid-cap companies long neglected by the frenzied mob buying Internet Lottery tickets.

I suspect my recent adversary is only one among thousands attempting to influence public sentiment in one direction , while privately readjusting their own portfolios to the growing reality that things are about to change - Big Time!

The excellent article you cite is just a shot across the bow. FWIW

K
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