The ''spin'' on the news is changing... ''perception'' vs. reality...
Now the ''Market'' is focusing on the negatives - no longer talking about, or referring to the optimisitc upside of growing Asian & Global recovery demandwise, the great job OPEC is doing compliancewise, or the very bright upside that the entire sector faces over the next 12-24 months... now; we are seeing the news being ''spun'' to the negative.... I've learned; step aside when you see a ''concerted'' effort to manipulate the sentiment.... it's coming.... here's some more from today....
Anyone else agree ? Haven't we seen this same pattern on vitually this entire trading cycle since last August ? Maybe a return to a break of OSX 70 and a retest of $18 Crude ????
comments all ???
IE:http://quote.bloomberg.com/news2.cgi?T=energy_topnews.ht&s=53364443
<<rving, Texas, July 20 (Bloomberg) -- Exxon Corp.'s second-
quarter profit is expected to fall 25 percent from a year earlier
as the world's largest publicly owned oil company made less money
from selling gasoline and other fuels.
Exxon is forecast to earn 49 cents a share, the average
estimate of analysts polled by First Call Corp., compared with
65 cents in the 1998 second quarter. The quarterly decline will
be Exxon's sixth straight because of a 16-month oil price slump
that ended in March.
Crude oil on the New York Mercantile Exchange averaged
$17.67 a barrel in the second quarter, $3 more than a year
earlier. Even so, analysts expect Exxon and rivals such as Texaco
Inc. and Chevron Corp. to post lower earnings because high
gasoline inventories damped profit from refining and fuel sales.
''I don't think these results are going to be quite what
people want to see with a $17.50 oil price,'' said Mark Gilman,
managing director at ING Baring Furman Selz LLC in New York, who
has a ''sell'' rating on Exxon shares.
Earnings at Mobil Corp., the second-largest U.S. oil
company, will be 10 percent lower than a year earlier, analysts
predict. Texaco, the third-largest, will report a 17 percent
drop, while profit at No. 4 Chevron will be 26 percent lower.>>
PS - the ONLY stock I am buying here is CRK starting at $3 5/8ths , then $3 3/8ths and loading the ''ARK'' at $3 if seen (don't think so...).
MEXP ? .... let's just say; it will not be immune nearterm to the sector's trading fundamentals... shame, shame, on anyone who lets the $2 to $3 run happen and not lock in some profits if we see a sectorwide retracement here... longterm; nothing has changed. But, there could be some volatility nearterm on this breakout over $3 - given what looks to be happening in the rest of the sector... gotta look at trading realities here - $2 1/2 to $3 is 25% on this one; and a small change in wind direction can move this one that much...
Looking forward to playing pacman with my cash shortly.... |
