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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: carl a. mehr who wrote (178141)	5/26/2004 1:50:08 PM
From: GVTucker	Read Replies (2) \| Respond to of 186894

Buying oil and gas stocks back at the peak of the Bubble was like shooting fish in a barrel. You could buy a whole host of companies at 3x cash flow--and I did. Even if gas stayed at $2/mcf and crude stayed at $17/bbl you could have made a lot of money in those stocks. The rising commodity prices were just icing on the cake. Now you've got all those same companies trading at about 6x cash flow, and that's based upon gas at $6/mcf and crude at $40/bbl. Multiple expansion is probably limited to 8x cash flow. The only way you can make serious money is for the commodity to increase in price from here. And you've got to get lucky for that to happen. I'd hate to have to depend on luck for success in investing.