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

To: Evan Dimmer who wrote (8118)1/14/1998 7:43:00 PM
From: Broken_Clock  Read Replies (2) | Respond to of 95453
 
Evan,
You took the words out of my mouth.Should we expect MSFT to hit $2?<g>
These stocks will trade on a cyclical basis.I can think of three things to break that cycle:
1.The world quits using oil.
2.FGII, etc. crank out about 500 rigs tomorrow.
3.We have have a '29 style depression so all stocks drop to a 3 pe.The osx jumps cause oil will bring us out of the depression!
dave

Further beating are possible in this sector, but it's less risky than alot of others IMO. These conferences and earnings should really help.I'm just glad they are coming out while we're already moving up!In Nov/Dec good news would be a reason to punish a stock.



To: Evan Dimmer who wrote (8118)1/15/1998 12:06:00 AM
From: Tulvio Durand  Read Replies (1) | Respond to of 95453
 
Agreed that stocks should not revisit their historical lows if they have had history of earnings growth. But it is reasonable to expect stocks to revisit their PE lows. Anybody know PE range over last couple of years for the drillers being talked about and how current PEs compare to the low end range PEs? Tulvio


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