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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: XOsDaWAY2GO who wrote (3866)	11/26/1997 12:16:00 PM
From: Bill Li	Read Replies (1) \| Respond to of 95453

B.Frazior, I think the slaughter is basically over. All the funds were going to sell have done so. If you are a contrarian, it is the time to buy. 1. The oil sector has corredted more than 25% and is trading at 20%-25% discount to sp 500 based on next year's PE while the growth rate is four times that of sp500. 2. The long term demand continues to be the driving force behind this oil boom. Even our friend scname admits the present " oil boom". 3. It is true that the oil sector is cyclical, but it is a long one. Each cycle lasts more than a decade. In the last down cycle, the whole sector was depresed for than 15 years. So, when it recovers, it will also be a very long one. That was the very reason I got into this sector last november. 1998 will be an exceptional year for oil sector. Bill