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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (3582)	1/22/2000 1:15:00 PM
From: double-plus-good	Read Replies (1) \| Respond to of 42523

luc, i see the point that you and oilbabe are making and indeed i did lighten up on some osx holdings. i'm not so sure thou that the public is wetting their pants to own the patch and especially the independent producers. your contention that the market is speaking and that oil is headed down may be countered by the contention that the street never believed oil would come this far. with producers selling at 3 and 4 times cash flow it seems there may still be time for the public to start peeing their pants on these issues. that won't come IMO until it becomes dangerous to buy tech stocks on the dip. while the drillers are surely ahead of themselves, the PE for these things is not a useful measure. consider rig trading last year with an apparently sound pe of 10 or 12 while the shares were at 30+. now the pe of all the stocks are much higher as they leg into the earnings upcycle. better to buy them when they are high pe stocks than the other way around. though like you i bought them when no-one wanted them a year ago and have been selling and buying them back since. i think the producers could surprise though. when they start blowing out the earnings and the techs start tripping they may be the black gold. took down the shares from my Jan NEM calls. last time i sold my in the moneys was the friday before gold went ballistic. left a lot on the table there and don't want to repeat the mistake. besides drooy, gsr, gold what other plays do you favor. how about HL? and what about the Chinese hawking their hoard of silver? any thoughts? ++

To: Lucretius who wrote (3582)	1/22/2000 5:35:00 PM
From: oilbabe	Read Replies (1) \| Respond to of 42523

LT: I cut me "trading teeth" on OSX stocks this spring and summer, thus my name, "oilbabe"...made lots trading those babies, while others just held, and held. I am actually looking at a possible short in that sector...HAL at a 65 PE....get real! Of course PLUG will eliminate the need for other source of energy, right!! Not a gold babe yet...maybe soon. Traded AEM for a while, but just not there right now. Gotta short that PLUG soon though!! Take care! I enjoy your posts...