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

To: Claude Cormier who wrote (19613)	3/4/2003 10:03:39 AM
From: Sharp_End_Of_Drill	Respond to of 206272

Claude, this has typically been a dodgy time to hold energy as winter ends and we transition into the summer fill season. We all know it is different this time (ha!) because of the supply declines, low inventory, lackluster drilling, etc. etc. But, we've also got the condition of the market to contend with. Most people here have only the last 6 or 7 years or so to base valuation comparisons on - years that were a bubble market. If we were in the situation we now find ourselves in 1998, I'd be off the charts bullish. If this were 1993 we would be overvalued about 2-3x. Now in 2003, I am only mildly interested - and only from the standpoint of hedging against shorts in the general market. Sharp