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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: TRUE_TRUTH who wrote (41312)	4/4/2005 6:36:43 PM
From: SliderOnTheBlack	Read Replies (3) of 206160

True Truth..... well said................... James Cramer discovered the Baker Hughes Rig Count tonight... < God help the Oilpatch Bulls <vbg> 50% of Cramers MAD MONEY calls are on Oil Stock's... and have been since his shows debut. - if savvy longtime investor/traders don't recognize what's happening here... RIP. James Cramer has become an Oilpatch Bull within 10-15% of the Top for 3 consecutive cycles. Tic Toc ! Oilpatch share prices are not determined by Oil and Gas Prices. - they're not determined by earnings, or cash flow per share. - not by PE,or PEG multiples. ...they're determined by Sentiment. Sentiment determines supply and demand. Supply and demand determine price movement. Sentiment has never been higher in the Oilpatch (note to Energy Elmer). Remember Merrill's research a few weeks ago. Alltime record bullish levels... with the highest levels in Energy Stocks. 75% of all Institutional Investors are Overweight Energy Stocks....75% is believed to be a modern alltime high. Institutional Investors are not looking for ultimate returns... they are looking to beat benchmarks... usually the S&P. Of note: ...they were also overweight in Oct 1997 and Sept 2000 when the OSX was 140+...soon followed by OSX 45 in Oct 1998 and OSX 58 in Sept 2001. Oilpatch Investors don't only have to worry about the cyclical fundamentals of the Oilpatch, or the economy... they need to worry about the cyclicality of Institutional Investors. Fickle is as Fickle does... Oil obviously affects the Economy - Oil Prices do not rise within either an Economic, or Geopolitical Vacumn. 6 Million BPD came off the demand side on the last Asian Slow Down. China is already showing social, political, banking system and economic structural cracks and the fundamental leverage that China has created in the Oil Market here; has created much more downside leverage to demand rollover than the last Asian Contagion. Tic' Toc`

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