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To: Wowzer who wrote (49192)	8/11/1999 11:45:00 AM
From: Timelord	Read Replies (1) \| Respond to of 95453

Rory - It depends on how bad it gets. In the shorter term, absolutely. This is my favorite sector right now. But in the longer term slower growth means less demand for oil. I'm not a doomsday bear, but the one lesson I came away with from '97-'98 in this sector is to expect the unexpected. There is a lot of paper wealth out there that is helping to feed this economy. If real inflation comes and the market overreacts (or perhaps reacts correctly?), all that paper wealth will disappear in a cloud of smoke, because very few people will believe there is a problem until well into the correction (go back and read this thread in late '97 or early '98). That effects spending and it effects economic growth. It could get ugly. Alex

To: Wowzer who wrote (49192)	8/11/1999 2:00:00 PM
From: Roebear	Respond to of 95453

Rory, How about Ike's Ford thesis?: Message 10901415 In rising oil prices lies the nirvana as we need lot of 'oil money petro $'s' and a little bit of inflation to be spent and recycled to pay our debts back by emerging markets and sell our softwares and networking gear to the new riches of the world.With chances of falling US debt we need new clusters of economic growth where exports potential exists, sometime US economy anchors the world this time global growth with slower growth of US economy wil help the next move for the markets from 2000 onwards. Remember what Ford use to say if we don't have enough income for our workers who is going to buy my cars? Little rising prices and strong economy little bit of inflation like 3.5% will do magic, ofcourse in the meantime we will hit 1130 as news trickle in but the time these guys were short they wanted the market at 5000 now atleast they are looking at 9500, so all of them are converts to my '8000 is steal of the century' slogan, someone who had used my post as a 'joke' has now removed that clarion call from his profile.. he had added after my quotation '8000 steal of the century' -if you are short, now that is gone but these guys are now looking for a 15% correction that will only take me to 9600.. However none of them have the decency to explain why did their charts missed the move of market from 550 on SPU to 1400? On that they are all quiet.. this CSCO earnings will not help them either.. Intenets above 503 is a buy and I expect them to hit 575 again..