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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 (35436)	9/30/2004 2:43:55 PM
From: energyplay	Respond to of 206176

Re Liftoff - Note that the Drug Company MERCK, part of the Dow Jones Industrial Average, is DOWN 25 % today - It had the 16th largest market cap at 108 Billion, now about 78 Billion. Vioxx drug to be withdrawn due to cariac side effects. If you were a fund manager with 1 % in Merck, you just lost 0.25% on your portfolio. Don't you wish you had bought more ConnocoPhillips or Devon or Burlington Resources ? Drug stocks were the most popular defensive group for many years - if some of that money heads to energy, we will see higher multiples - the type of valuations we have not seen in energy for many years.