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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: paul feldman who wrote (55958)	12/3/1999 12:10:00 PM
From: SliderOnTheBlack	Respond to of 95453

paul; fighting the tape ? No - just realizing it must end... I would not be short here right now; but soon perhaps. If I was long the DOW, or NASDQ - I'd be looking to sell on the first hint of profit taking - which will come soon. This isn't "fighting the tape" at all; its merely conformation of the euphoria soon to reach levels where profit taking and rotating that money to undervalued sectors - ie: the oilpatch; will certainly take place. I like what I see in the tape; it confirms my thinking on what is going to happen. Only time will tell. But, there are few analysts with targets higher than DOW 12,000. So now the gap narrows; 5% remaining upside for the DOW - versus 50% upside for E&P's merely to their September highs - weeks ago ? - about a conservative 10:1 upside ratio imho. - only a matter of time. One factor is that the Oilpatch can not absorb all that money that could rotate from the overall market, but the good news is it doesn't have to. If only 10-15% of the profit takers - sellers; in the DOW & NASDQ rotate to the Oilpatch, we'll be just fine.