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To: Madharry who wrote (268)	9/24/1999 8:37:00 PM
From: PuddleGlum	Read Replies (2) \| Respond to of 318

Armin- SFY's price consolidation is a good thing. You'll make money here. How high were these o&g stocks the last time NG was over $2.50 and oil was over $20? Something doesn't compute, and I think that it's because people know that oil prices have to come down from here, and because of the possibility of another El Nino next year. The earnings will start coming in, and then these stocks will resume their rise. On the other side of the coin, it seems that some of those gorilla tech stocks will far outgain anything that these o&g stocks will ever do. The point and figure indicators are all negative right now, so being partly in cash is a very good thing. I don't think we'll have a meaningful rally for awhile. pg

To: Madharry who wrote (268)	11/25/1999 12:03:00 AM
From: PuddleGlum	Read Replies (1) \| Respond to of 318

Armin- According to OilWorld: "AGA reported a withdrawal of 20 BCF from the natural gas storage, representing a decrease of 0.6% at 91.9% full" The bad news is that this is end of November. The good news is that it was the first DRAW on reserves in eons (well, it seems that way) and it was during a relatively warm week. I'm still terribly puzzled by the low share prices coupled with generally-strong product prices. When good news won't move share prices that's when we should be worried. My tech stocks are skyrocketing. My $10K in SFY and APA would easily be $15K if I'd put it in my tech stocks. But my portfolio is made up of stocks with p/e ratios of 80, 100, 200 or "NA", and then there's SFY sitting there at a p/e of 13, p/cash flow of 4 or less. pg