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

To: SliderOnTheBlack who wrote (66924)	5/24/2000 1:08:00 PM
From: Jon Cave	Read Replies (3) \| Respond to of 95453

If the Nasdaq and other world markets don't level off soon,there ain't going to be no boom 2000. Whats an oilly investor to do here. I still like the small cap EnP's and of course the laggards like PGO and MDR are long term holds that will pay off sometime in the next year or two. But, for the immediate future, I am affraid that he OSX is now tied to the Nasdaq. Oil prices are back above $29 and NG is above 3.91 today. With the strong OSX sell off today, the oilly investors are worried about an economic slow down that will slow down energy demand because of raising interest rates and also worried that less money will come into this market. The Nasdaq guys are worried that their earnings will slow down and less money will buy tech with the interest rates rising or they are worried about no slow down and interest rates rissing another 75 points from here. I cannot see the Nasdaq dropping below 2600 for very long. And you have to believe that the Nasdaq will see 3200 sometime in the next 12 months. Gota belive that the right thing for investors with 0 holdings in tech to start adding some right here. On the other hand, value stocks have been so out of favor for so long you have to look at stocks like YUM, GT, and ADM that have put in some good technical bottoms here. For the first time in a long time, I ain't sure what to do here. I can't believe that the FED wants to raise more than 25 points at the next meeting and possibly drop the Nasdaq another 500 points. That could send us into a recession. But, if the data is plenty strong watch out. We are bordering on an extremely dangerous situation here. Whats an investor with nearly 90% of their holdings in energy to do here. Add some value out of energy, buy some tech stocks, or conntinue the course of buying on dips and buying value in energy. Actually, I am only about 30% invested in this crazy market but all that is in energy. I am starting to get excited about some tech stocks that have fallen. QCOM has been a high flyer now down to about 70 ish. Not cheap here. But, look at were it has been and it probably shouldn't have been that high to start with. The china trade deal could benefit them greatly. Flash memory growth is outstanding and stocks like SNDK are plenty cheap and there long term growth prospects are wonderfull. VTSS,CSCO,AMAT and many others some of which have PE's still in triple digits. I am not interested in any stock with a triple digit PE but stocks with a PEG of 2 or less are attractive. For the first time in a long time, I am confused <g>. This reminds of the summer of about 2 years ago where folks who bought that slump made a killing. However, the timming is just a little off. I hate to buy techs going into summer because of the history of doing bad in the summer months. I 've lost some small $$$ here trying to find the bottom here and my thinking says you got to buy a little tech here and hold the damn stuff for a while. A good bottom should take about a week or two of churning to indicate a good bottom. VTSS at 36 looks tempting. Still an extremlely high PE stock though. Tommorrow is key. Sorry about my rambling. Just thinking out loud.