MSGI: It's been an ugly market these last few weeks, and the o&g sector has been especially hard hit. However it's important to keep in perspective that YTD, the o&g sector is still up nicely versus a down market. I'm about 95% invested right now, but 5% cash is substantial for me historically. As of yesterday I was only down about 1% YTD on my portfolio, so significantly outperforming the indices at least, and I'm happy with that.
I think there will be bargains to be found in the coming weeks, especially in the o&g sector, but short term I think the group goes lower. As for the Nasdaq, I won't be surprised if it tests the 1750 lows of last summer again this summer. Hopefully that level will hold. What's your market forecast ? You seem to be very bearish. Maybe Bobwins should have a Nasdaq or Russell 2000 guessing contest like we did with oil last year. It would be interesting to hear the predictions of others. Another oil contest could also be worthwhile.
