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To: Wowzer who wrote (64968)	4/19/2000 1:59:00 PM
From: jim_p	Respond to of 95453

I agree, that why I sold a lot of XNG stocks to buy on the OSX weakness. XNG stocks will have to take off some time soon with these killer earnings though. Jim

To: Wowzer who wrote (64968)	4/19/2000 2:00:00 PM
From: ItsAllCyclical	Read Replies (2) \| Respond to of 95453

Rory, E&P earnings. It has nothing to do with earnings and everything to do with Tech and the overall market. People are still spooked. We need to see tech consolidate a little and then hold the bulk of the recent gains. At that point people will feel safe to venture back into the market. I would guess the market would broaden at that point. We are not seeing a selloff (flat yes) in E&P's like previous quarters when they announce so I don't think it's the same. Also gas prices have not been this high before especially this time of year. Lastly OPEC has done a great job so far with their price band. All these factors tell me it's different this time with E&P's. PXD traded down to $9 in the huge blood bath last week, FST 10, SFS 8. I'd call that pretty safe. With techs flat and oil prices up I'm kind of surprised the OSX, XNG and XOI are not moving. JMHO.

To: Wowzer who wrote (64968)	4/19/2000 2:07:00 PM
From: Think4Yourself	Read Replies (2) \| Respond to of 95453

If record earnings don't bode well for the EnP's just think what poor earnings and "better in the second half" comments will do for the OS and OSX. The EnP's are announcing, and agressively executing, buybacks left and right. I don't see any other sector in any other industry doing that. And why shouldn't they? They are getting their shares for practically nothing. Many are saying it's a better investment than drilling. Yeah, earnings are built into the prices. Forward PE's of 5 to 15 are MUCH too high (ROFL).