YEs, but do we have bubbles on stocks with a 11-12 p/e ? Residential real estate is much more over priced than the oils. The tech in many cases had astronomical P/e s well over 100 With the majority ownership of cvx held by large institutions I really dont see them bailing especiallly in light of them fueling their cars every week to go to work. Later this month we should see terrific earnings year over year. Are you going to sell into that??