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

To: Ed Ajootian who wrote (16233)	12/28/2002 11:57:25 AM
From: quehubo	Read Replies (1) \| Respond to of 206326

Ed: I covered my PTEN short yesterday at OSX 50 dma support. PTEN has no debt and will have tremendous earnings over the next 24 months. Today's OSX prices are generally what investors are willing to pay for earnings going forward. The past is good as a measure of what earnings will be in the future. Look at what multiples NBR traded at in 97/98 (40 x 12 month eps). OSX will likely trade at 30-40 times the forward 12-15 months earnings. The only way NG storage wont drop below 900 bcf in the next 4 months is if major supply comes online from some deepwater projects in early in Q1. If you bet storage drops below 900 bcf with the expected production levels in April, OSX & E&Ps will be rallying big time. NA NG E&P's & OSX will not rally significantly for long exclusive of each other. I am buying some E&P's because I think some E&P's may lead OSX for a month or two from present valuations. But ultimately my expectations is that many of the OSX stocks will provide much better returns than E&P's.