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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: edward miller who wrote (8820)	9/28/2001 10:47:13 AM
From: jim_p	Read Replies (1) \| Respond to of 23153

It's due to an over sold sector, and quarter end window dressing. For those who missed out, you may get a nice chance to add to NG shorts later today. Jim

To: edward miller who wrote (8820)	9/28/2001 10:56:39 AM
From: Edmond Katonica	Respond to of 23153

Ed Miller I think that the market was way over sold. I agree with Jim

To: edward miller who wrote (8820)	9/28/2001 3:08:44 PM
From: energyplay	Read Replies (1) \| Respond to of 23153

Driving oil & gas stocks - i think it is form of "flight to quality" and out of Tech/Nasdaq. Since IT spending is dead for this year, money moves to "safe" names. The fundamental numbers for energy stocks (which are trailing numbers0 look great - price / earnings, price cash flow, price /book (that old PV 10 ;-) Being bought HEAVILY by people not familar with energy sector. Note that APC, one of the favorites, has been very storng, DVN, which "too much debt" , weakest. Also lilkely to be a LOT of short covering - NG stocks were heavily shorted. I expect a reversal of this in a few days/weeks as - Non energy stocks look safer, especially banks Short covering ends the new investors learn that the forward quarters are lousy due to lower NG prices Redemptions from mutual funds continue. However, the flight to safety & mid east concerns will still tend to limit any sharp drop in energy. The Risk/ reward of shorting NG stocks has changed.