Saturday, February 19, 2005

I'll take that - to go.

XOM passed GE in market cap today and oil/energy stocks in general have skyrocketed this year.

Jim Cramer made a call today on his radio show to take some money off the table here in energy stocks, and it sounds like a reasonable call. Though my general impression is that most people are underweighted in energy, these stocks are going straight up, and it is probably unsustainable.

Of course, I thought the same thing when I sold my Munder NetNet fund in 1998. Or was it 1997?