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

To: Lucretius who wrote (15901)	3/22/1998 3:44:00 PM
From: hunter	Respond to of 95453

Lucretius: I agree with your caution for the overall market, and also draw the conclusion that the fund money will now again be more likely to invest in the energy sector. The drillers are so far off their 52 week highs, that a rationale exists for these fund mgrs. to put their "forward-looking" thinking to work [and still look good with the boss--what foresight!]. Just my opinion, and am glad to follow this board for its many informed comments.

To: Lucretius who wrote (15901)	3/22/1998 4:02:00 PM
From: PnclNk	Respond to of 95453

<<There are just way too many bulls out there. Anyone else looking at this?>> Couldn't agree more. In addition to low interest rates, low energy costs have a positive effect on all sectors of the economy (except our favorite guys of course). Will this be the trigger to end some of this market craziness? Probably the next couple of weeks will tell the story. The efforts of funds to lock in quarterly results may also play into the potential of a meaningful correction. BTW - This isn't one of those "buy the rumor, sell the news" times is it?

To: Lucretius who wrote (15901)	3/22/1998 4:13:00 PM
From: Lazlo Pierce	Respond to of 95453

Luc, re: overvaluation here's a link to something I found in the San Diego Union-Trib that addresses some of the accounting manipulations going on. Very interesting Message 3798041 Dave

To: Lucretius who wrote (15901)	3/22/1998 5:07:00 PM
From: marc chatman	Read Replies (3) \| Respond to of 95453

OFF TOPIC You bet, LT. And if long interest rates creep back above 6% that could also take some air out of the market. There is a possibility, though, that some end-of-quarter window dressing could keep the winners propped up until early April. The oil drilling and service sector is my only long play right now (except for one retailer where I am just looking for my selling point). I have started selectively shorting semiconductors last week and will look to other tech sectors to short if I see the signals. Airlines are also a possibility for me to short, but that scares me a little.