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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: t4texas who wrote (6193)	1/8/2002 7:01:29 PM
From: Frank Pembleton	Respond to of 36161

T4, I don't believe buying at the bottom and selling at the top is as easy as they say it is. :) Simplistically enough, I keep hearing that the last 4 recessions in the past 30 years were brought on by high oil prices due to an over heated economy where demand outstripped supply. The bearish EIA forecast is as expected because of the sluggish economy. This price collapse like others in the past will have us valuing companies on its current production and cash flow as opposed to its net asset value (future value of production). Just comparing the performance of these two stocks today and you’ll see why Suncor finished up and Pan Canadian finished down. Despite the gloom and doom in this sector the Canadian integrated stocks as a group have performed extremely well. finance.yahoo.com From my own perspective I’m probably too overweight in the drilling stocks and I don’t have enough “current production” stashed away. Other than that I’m thinking the next accumulation date would probably be within the “June Swoon” time frame. Regards Frank P.