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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Square_Dealings who wrote (343)	10/29/2000 3:32:28 PM
From: excardog	Respond to of 74559

michael, I've been watching ABX pretty carefully the past six months when I found out a Fidelity fund hot shot became a buyer. 35% off since the announcement. I agree as far as decent earnings last quarter (20 cents) I think it was, but on a forward pe basis it's still too expensive. What I think we've got here in the overall market is a pe contraction. I believe you follow energy stocks and forward pe's are frightfully small. One must exclude those utilities which have now replaced internets for goofy pe ratios. Try ENE,DUK,or DYN if you want to see some out of whack pe numbers. Stick with selected oil and gas issues for safety is my call. Keep a close eye on gold, so what if you miss the first 10 or 20% move. I'm doubtful you'll wake one morning to find ABX up 10 points like we used to see in those wacky internuts. If inflation starts to become a concern then lets take a peek at inflation adjusted treasuries , those might just outperform everything in an inflationary environment. All just my 2 cents. Regards, Scott