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

To: isopatch who wrote (80990)	12/7/2000 5:22:45 PM
From: BigBull	Read Replies (3) \| Respond to of 95453

Iso: Re a tradable bottom in oil services. I am not all that interested in same. I'm a wee bit more circumspect. I'm interested in getting close to THE bottom as I believe the cyclical turn down has been made. More evidence of US slowdown: Intel warns yet again: biz.yahoo.com ``As a result of recent large cancellations by customers worldwide, the company now expects revenue for the fourth quarter to be flat, plus or minus a couple of percentage points, with third quarter revenue of $8.7 billion,'' the Santa Clara, Calif. company said in a statement issued after the close of market. GM cuts production: biz.yahoo.com Cuts for the first quarter were more drastic. GM set its first-quarter North American vehicle production forecast at 1.301 million vehicles, including 635,000 cars and 666,000 trucks. In the first quarter of 2000, GM produced 1.521 million vehicles, or 746,000 cars and 775,000 trucks. For "smart" and "large" investors to truly "return" to this sector they must be convinced of the following and in this order: 1. The stock market has bottomed. 2. The US Economy has troughed. 3. Oil prices have "begun" to trough. Since number 1 and 2 are not evident, it is not necessary to consider number 3. Imo it will take some months after the fed has begun the process of lowering rates that number 3 becomes visible, which is why I believe rallies in this sector will be short term affairs.