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

To: Swede who wrote (14646)	3/12/1998 5:07:00 PM
From: waverider	Read Replies (1) \| Respond to of 95453

Agreed! I search and think and search again. I wonder to myself what in the hell I would buy in this market if I were just coming in. The ONLY sector that I would consider is ours. Intel? Too much confusion over chip demand. Cisco? Great company, but even Chambers has said things are not going to be that great in the coming quarters. Both appear overpriced at this point. Then you can look at any of the blue chips. Yeah, I can justify paying 30 to 50 times earnings for 5-10% growth. What the hell is wrong out there? From what my gut is saying there is going to be some external event that will shock the blind fools and the overvalued chips are going to fall off the table and never look back. Our sector will do nothing. Meanwhile the gloating hogs like that Pisant guy are going to be unable to reach their brokers to sell what little they have left. Then everyone will look at the remains and say, WOW, you mean those drillers are selling for what?! The inflow of capital will be incredible. Remember, every dog has their day. Thank you for letting me fantasize. Now back to work. Diamond H

To: Swede who wrote (14646)	3/12/1998 5:13:00 PM
From: JGreg	Read Replies (1) \| Respond to of 95453

No one has mentioned today the fellow from Merrill Lynch saying this morning on CNBC that he thought late spring would be a time of correction and that the traditional "defensive" areas would not prove to be so defensive. He said he thought the oil service sector offered better defense because it "appears to be bottoming out." Perhaps not many really trust anything that ML says anymore, but it was a confirmation of what several have been saying here about bottoms being reached and funds beginning to buy again and.