From: "Gary Britt" 

We aren't discussing the theory of buy decisions.  We are discussing one
issue:  Are oil companies "extraordinarily profitable" on a year
to year sustainable basis?  If the market thought they were, they would be
buying up the stock to the point its P/E ratio was higher than its current
11.5 times earnings.

Gary

"Bill Lucy"  wrote in message
news:MPG.1e0cad4b2d706cf7989788{at}news.barkto.com...
> In article , email{at}from_Gary_Britt.org says...
> > Well then, have they bought enough of any oil company stock to cause its
> > price earnings ratio to be pushed up?  If not, then they and the rest of
the
> > market aren't buying in quantities that would be expected for an
> > "extraordinarily profitable" company.
>
> I'm just shaking my head, Gary. Technical analysts use P/E ratio in
> determining whether or not to buy oil company stock. But it's a small
> part of making a buy decision.
>

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