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

To: BigBull who wrote (57179)	12/20/1999 2:22:00 PM
From: Jon Cave	Read Replies (1) \| Respond to of 95453

Bigbull, earnings don't matter. Look at MWD in the financial sector. They reported 2.80 or 2.90 pershare today and the market was expecting $1.90. They split the stock and it is only up 1 %. Why? I quess they are in the wrong sector. Maybe with higher interest rates on the way nobody wants to own financial stocks. I was expecting a nice pop in the oil sector today with the Exon news on Friday of increasing spending next year by 20%. But, no way. Even if oil stocks increase earnings by 50% next year, I am starting to think we might not see a increase in share prices. Hopefully, the world economies will continue to recover and money will come flowing into the energy sector. Those internut stocks are sucking the life out of other stocks by taking money away from other sectors. Maybe we should be buying QCOM at $470 or YHOO with only a 1500 PE <G>. Maybe, we should be buying stocks that lose more money every quarter like AMZN. Heck, the CEO was chosen man of the year for selling books and then moving into toys and electronics. Heck, I might try selling pencils on the internet and see if I can get a 30 billion market cap <g>.