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

To: marc chatman who wrote (22596)	5/21/1998 8:39:00 AM
From: JZGalt	Read Replies (1) \| Respond to of 95453

marc, for cyclical companies, you typically want to buy them when they are trading at high trailing p/e and sell them when they trade at low trailing p/e's once the yr/yr growth fades. No sign of that growth fading in this sector _yet_, but that concern is one thing that is keeping a lid on the prices. If you are a long term investor you look for chances _exactly_ like this. Buy great companies when they are misperceived and undervalued in relation to their future growth. IMO, historical p/e's aren't worth diddly. You need to look forward. Try marketplayer.com to get charts which show 12 month forward p/e's. This is how I use forward p/e's: geocities.com