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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: AltLar who wrote (49230)8/11/1999 6:57:00 PM
From: BigBull  Read Replies (2) of 95453
 
It means only one thing. Wall Street is cranking up the propaganda machine, and psychology has made a decisive shift. I don't care if it's logical, accurate, or even flat wrong. Merril Lynch's pounding the table for DO signalled the shift in no uncertain terms.

I mean, the consensus, as Slider has reminded us, is that big oils capex will not be expanded for a good nine months. So why in the hell is Merril bulling deepwater DO. Sure, great balance sheet and all, but still - Strong Buy - Focus One? Then Pru follows with FLC - strong buy - target 20? Stock after OS stock is on the new highs list on heavy heavy volume.

To many this is a contrarian signal to sell. To me it is not. I beleive we are now in the second leg/stage/phase/wave of the OS bull. The second phases are usually THE most powerful stage in most bull markets. IMO this is the stage one MUST be in. With Wall Street at your back in this stage, substantial profits are to be had, and day traders miss most of the profits. IMO this is the stage where people wait for the pullback and it is never deep enough and they are FORCED back into the move. There are times to fade what Wall Street says and there are times to listen. Imo its time to listen.

There are many who will use my bullishness as a contrary indicator. So be it. They have their plan, I have mine. Mine is to be "in" when the big moves happen. IMHO that time is now. These kinds of Wall Street statements are just more gasoline on the fire. Stupid or not.

RIG 25 doesn't look too smart now.
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