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To: marginmike who wrote (64809)	2/5/2001 4:17:44 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

<<Just saw stat on CNBC THAT average OSX(oil service) stock selling at >10 PE. I am tempted to start going long this area.>> It's been VERY good to me the past few weeks. With the promise of less regulation by the new administration, it looks solid. Stick with the service companies and possibly the refiners, and avoid the E&P's and you should do well, for another 6 weeks anyway....

To: marginmike who wrote (64809)	2/5/2001 6:45:24 PM
From: Les H	Respond to of 436258

Schlumburger and Hallibut look cheap biz.yahoo.com

To: marginmike who wrote (64809)	2/6/2001 9:54:57 AM
From: pater tenebrarum	Respond to of 436258

yes, they are still cheap, relatively speaking. but then the cyclicality of their business means that their p/e's are usually the lowest at the top of the cycle, and the highest at the bottom. BUT..it seems to me the market doesn't believe oil prices will stay high or go even higher - and yet, crude remains in backwardation, indicating that supplies are still tight. so it's quite possible that this particular cycle will be different...it may last longer, and bring a lot more money into oil service cos. coffers than previous cycles since the inflation adjusted crude ATH in '81.