Blame it on Einhorn... and at least save a little face.
<<You are a bit harsh in criticizing Rory's choices here. .... and he does not deserve to be flamed and ridiculed for his choice. >>
Oilbabe; my intention was definitely not to ridicule his ''picks'' - but, rather his purported '' reasons'' for selling and his whining about MEXP. My comments on his picks, were merely in reference to his comments about - ''keeping score.''
Perhaps; the appropriate thing to do; is to introduce Mr.( or is it Ms.?) Heiner, to one Cheyrl Strauss-Einhorn of Barrons fame. Now he could really build a credible case in venting his confusion & frustration at Ms. Einhorn - the Queen of Spin... and her hype (err Research).
At least the ''Rory's'' of the world can legitimately point to Ms. Einhorns mid-day, live market-time appearances on CNBC and of course her Barrons articles as a ''real'' source of legitimate confusion & frustration; given her perpetual reversing & back pedaling and her Dorfmanesque Ear being not just used, but clearly abused - by Wall Street Traders who are playing her like a cheap violin.
If you ''Blame it on Einhorn'' - at least you can look yourself in the mirror ...
....anyway; so now Nat Gas is going to $4, $5 by 1/2 2000 - right after Doomberg, CNBC, some SI whiner-antihypsters & the market ran Nat Gas down to $2.60 and shook out the weak handed E&P holders as well.... amazing (VBG).... !
$4,$5 Nat Gas ? - a Nat Gas crisis ! - whodathunkit (VBG) ?!?!?!
What a revelation !
What timing !
The analysts made a small mistake of late. They released information; commenting on how Big Oil, the Integrateds and Independant E&P
's would exceed analyst estimates and upside surprise in Q3 accross the board on the average of 20 to 30%... but, that created a problem. The "Street'' sure as hell didn't want to have to put all that cash they just took in from the overall market sell off; into the E&P sector off of a run up in anticipation to what was allready know to be - a super Q3 reporting period. So guess what ? The traders leaned on Nat Gas futures, spun the story to things such as - rig counts rising quickly, that nat gas supply was over the 5 year average (failing to mention demand growth - especially by Utilities made the 5 year average number meaningless...) etc. They leaked via CNBC, drivel that OPEC compliance was leaking, spun the ''Price Band'' proposal into a break in the ranks among OPEC etc. and guess what... all the weak handed indecisive, co-dependant amateurs capitulated. They sold, they bailed, they folded. And the Street (and some of us) bought in to their weakness all week. Now Barrons blows the Nat Gas horn once again ! .... amazing... well; let the whining & tears begin...
I wonder if Cheyrl Strauss-Einhorn should have posted prior notification of her coming ''upgrade on Nat Gas Prices'' -article, here on SI and on Yahoo - at least 24 hours before Barrons went to press - so that all those who sold on her prior gloom & doom could have bought their E&P stocks back.... and not had to whine & whimper in such a publically demeaning manner... at least they would have been able to retain some credibility and save a little face, by blaming their capitulations on a real Market-Maven...(VBG).
... for all the whiners of the world:
Thou shalt not click thine own mouse button, to either buy, or sell; unless thou art willing to accept complete and full responsibility of thine own acts !
... and please exchange the finger pointing and bad mouthing; for some long hard looks into the mirror - in addition to checking to make sure your spinal column is still functioning; before you click that mouse button again come tuesday.
hmmm; $4, $5 Nat Gas - wonder what that will do to MEXP's cash flow ? --- I know what it will do, I ran the numbers... suggest some of the whiners out there do the same. They don't need $4 or $5 nat gas either. The upside to even the present $2.60 is rather bullish. Perhaps some of the ''sheep'' can find their own way back to the the warmth & comfort of the herd, without the use of Slider's the Sheep Herders cattle prod (VBG). Oct. 15th ... mark that day on your calendar by the way... Bank redetermination of the Credit Facility for MEXP. Guess what; they didn't take other deals on the table; because the BOM may just have something a little sweeter... With the pressure on their stock; the publically acknowledged lack of cap ex funds to proceed with drilling to the degree they wish to; and waiting untill the end of Q3 before scheduling a Credit Facility Meeting is not an accident ! All they ever needed was the reporting numbers that they will have come Q3... we allready know - $3ish is the valuation limit given by the Street here of late - on merely the ''anticipation'' of a new release related to the Bank Line.What will the valuation be upon the actual release of postive Q3 numbers AND new Bank Line news ???? .... that is the reason I am buying the $hi^ our of MEXP right here.... anyone have any more shares they wanna fold on @ $2 ish ???
Again Rory - just for you:
MEXP goes to $4 by XMAS - or I never , ever, will post again on Silicon Investor - period. Actually I would have said $6, but you guys would get irrationally exhuberant (VBG)... and you know how Greenspan & I feel about that.
Caio~ |
