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

To: Ditchdigger who wrote (57339)	12/23/1999 5:12:00 PM
From: Area51	Read Replies (2) \| Respond to of 95453

Oil Service Stocks hit 3 year high ???? cbs.marketwatch.com I don't think it's really true. I show the OSX well over 100 as recently as early 1998. Maybe they're just looking ahead to early next year ??? Merry Christmas, Area51

To: Ditchdigger who wrote (57339)	12/23/1999 7:06:00 PM
From: Jacob Snyder	Respond to of 95453

re:anyone notice the bond yeild ended at 6.49% today?... The market didn't. Look at it this way: Managements are borrowing money, using it to buy back stock, and then the stock doubles. Do they care whether they're paying 6% or 12% interest rates? Of course, it's just a pyramid scheme unless stocks do a lot better than the 10% longterm historical yearly returns. I don't recall how many rate hikes the market ignored in 1987, before they abruptly payed attention, but it was more than 3.