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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (3278)	2/20/2001 9:18:20 PM
From: John Pitera	Read Replies (3) \| Respond to of 33421

I think that Herb Greenberg has a valid point: Market magic: Back when I was with the San Francisco Chronicle, I used to write more about the market, in general, quoting this maven and that. One of my favorites was George Muzea, of Muzea Insider Consulting in beautiful downtown Reno, Nev., whose calls are based on insider corporate trading. His service, which is very expensive, goes out to a limited group of hedge funds and other high-net-worth clients. What's best is that he's rarely quoted, which is reason enough to ask him what he thinks about the market at this point. His bottom line, of late, is to try to refute the theme that now is the time to buy because you don't fight the Fed. "In the bottom of a bear market," he says, "you're going to have two factors: heavy insider buying and investor sentiment that is 60% bearish. Right now there's heavy selling and the sentiment is 60% bullish. My work is suggesting that the decline we're in will be longer than anybody envisions. It's not about rates, it's about consumer confidence." On that score, even here in San Diego, which usually lags behind the rest of the country in a slowdown, I'm told by several plugged-in sources that construction has suddenly started to be, uh, not so constructive.

To: John Pitera who wrote (3278)	2/20/2001 9:37:17 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 33421

Completely agree about NG companies... One of the sectors that I'm trying to focus my wife's attention on after her bloodbath in the internutz.. :0) Heard some good things about GW (Grey Wolf) from a radio broker I listen to here in the DC area.. Thinks it could double to $12. (I don't own any at this time as I'm looking for it to consolidate and show some support). It would seem that O&G drilling equipment stocks should be the first to benefit from the wave of upcoming exploration to be expected. And I would think day rates on oil rigs should remain steady, if not increasing in price. There is supposed to be a big energy summit here in the capital sometime early this spring. That should kick-start the entire sector and bring energy stocks to the forefront. That's what we get for having an administration more interested in the economic "icing" via techology, than the "cake" (infrastructure) required to support it. I think California is in for BIG trouble this summer, and the fact that it represents some 18% of the US GDP, is going to drag on the rest of the nation. Regards, Ron