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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (43247)10/11/2005 12:46:37 PM
From: ild  Read Replies (1) | Respond to of 110194
 
Are you talking about oil bubble or gold bubble? -g-

12:37pm 10/11/05 DEC GOLD TAPS HIGH OF $481.50/OZ, HIGHEST SINCE JAN 1988



To: Wyätt Gwyön who wrote (43247)10/11/2005 12:56:04 PM
From: Elroy Jetson  Read Replies (2) | Respond to of 110194
 
During the last oil bubble of 1976-1982, I don't recall the p/e of major oil companies rising to levels any more absurd than 8 times earnings.

Of course those p/e's might have expanded briefly as their earnings collapsed.
.



To: Wyätt Gwyön who wrote (43247)10/11/2005 1:06:55 PM
From: patron_anejo_por_favor  Respond to of 110194
 
>>@oil stocks) so far, the dip buyers have no joy<<

I dunno, I'm feeling pretty joyful today.....

Disclosure: Long PVX since 10/07
Long PGH and VLO since 10/10.....

FWIW, I'm not waiting for high multiples to declare the top. Oil markets are cyclical, cyclical markets top when the earnings are peaking and the stocks usually have rolled over by then. So P/E's are not noticibly inflated at the market top. For an example look under "Stocks-Homebuilders"<G>


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