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

To: Warpfactor who wrote (94527)	11/21/2001 12:28:23 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Warpo good point... re: "what are you doing for me lately" ... among the herd of chihuahua's there are allways a few pups worth converting ... we'll occassionally rescue a chihuahua, or two; pump 'em up - glue a longhaired coat on them & teach them not to ankle-bite... and occassionally let them up on the porch with us... So behave; there may be hope for you yet (vbg). What now you ask ? Well; I'll defer the OSX call for now; untill I hear what the "followers" and "fence straddlers" have to say here first (vbg) ? But, I've added gold (AND Silvers) on this pullback... about 50% long gold/silver on a portfolio basis... have traded continually from 35-65%ish long fwiw. I'm now 35% cash and about 15% short broad market stocks - and have just added a few tech shorts - due to their recent run here of late. This is STILL a BEAR market - that is in IRRATIONAL DENIAL imho. Oil and Gold/Silvers have the opportunity to STILL be contrarian plays...ramping money supply and still decreasing industrial output & capacity means more $ chasing fewer & fewer goods and that equals what (VBG) ? While the NAZ & TECH have had volatility and a nice upside bounce of late... they aren't showing any significant cap ex, or earnings changes on a fundamental secular basis... so they hold no attraction for me personally on the longside presently - especially given the complete and total lack of any "RISK/discount" being applied for continued Terrorist Acts. Given what merely one single "dirty bomb" (Nuclear waste spread via conventional explosives) could do to the Wall Street Financial District; or what a single incident concerning Small Pox could/would do...I fail to understand why people do not see this as potentially the highest risk longsided bet in recent market history being made at literally historically unsupported valuations that are still irrational on any historical metric ? It's all about valuations & the economy imho. PE's for the S&P are still DOUBLE that of the 1990 recession and clearly still above even prior historic bull market tops... tops - not global recessions with the threat of bioterrorism. I think history has a way of humiliating greed & cavalier and complacent attitudes time & time again.... and failing to assign any RISK discount to this market is insane and irresponsible imho. We shall see. Cash for BOTH offensive and defensive purposes; some select shorts for "trades" (in & out - playing market sentiment on a contrarian basis) and a core position in gold & silvers...so what I've "done for you lately" is what I've done for the last year... protect capital & make money via common sense historically supported value & contrarian cyclical plays - nothing more, nothing less.