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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (13230)	9/22/2002 11:04:12 AM
From: quehubo	Respond to of 206214

Jim_P , I think today's OSX valuations have allot more to do with the fear of owning equities than fundamentals. Today's NG directed activity just above the low levels of the cycle are still higher than the peak levels of the 97/98 cycle. Earnings multiples are and have been quite low for many companies, OECD stocks have been dropping for months and will continue to do so through the WInter unless ramps up production, NG production has declining as fast as many of the most bullish analysts expected. My guess is E&P's are waiting until there can be no chance of bringing supply on into a weak pricing environment. It seems they are waiting to avoid the worst case scenario of a Winter like last years. The more I read people expect the next NG directed cycle to last strong through 2004. For better or worse I am here waiting and wont miss the OSX express when it takes off. Soon it will be Winter and maybe someday again people will pay 20 x FEPS for OSX companies .