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

To: energyplay who wrote (20036)	3/11/2003 8:25:31 AM
From: chowder	Respond to of 206176

>>> Hi dabum - Considering how down a day it was, S&P down 2.5 %, these stocks are showing a lot of strength compared to the rest of the market. <<< Hi EP! What difference does it make what the rest of the market does if I'm playing the energy sector? If I'm playing the energy sector, the only thing I care about is how the energy stocks are performing. I don't buy stocks to hold up well. I buy stocks to go up in price, now ... if not sooner. <ggg> I have never disputed the fundamental scenario for energy. My only concern has been, when are the fundamentals going to help these stocks break out to new highs? Since I took my profits near the top, it doesn't make sense to me, to get back in, unless we break out on decent volume or retest support levels. If we don't break out in the next week or two, can we assume the energy sector will have the strength to break out during shoulder season? What if we go to war in a week or two? If we see a relief rally in the market, will money go to the sectors that are oversold? Or, will new money come into the energy sector, which doesn't have as much upside potential as other sectors? I think Que is right about next fall and winter seeing new highs, especially in the XNG. But, what about in the near future? I don't know the answers to the questions mentioned above, but I do know the energy sector is struggling to maintain current levels in the face of excellent fundamentals, according to most. I asked this question a month ago. I asked it two months ago. What's it going to take to break out to new highs if the fundamentals which have been encouraging can't do it? What's it going to take to attract that money sitting on the sidelines? dabum