Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Crimson Ghost who wrote (53166)	10/18/1999 3:19:00 PM
From: SliderOnTheBlack	Read Replies (3) of 95453

<< Why did Warburg wait until the OSX was down 25% to downgrade those stocks? >> Because unlike Merrill, SSB, and Pru with their retail customer base that keeps them honest; Warburg D.R can take care of its Institutional Players by adding some negative Mo-Mo to a potential blow off... rat bastards imho... nothing, paranoid about it - strictly a manipulative move. It gives the shorts less resistance; allows the Institutions; many who have trimmed here into fiscal year end - locking in their fund gains & bonuses for the year; to step in back cheaper after the smoke settles from the overall market. But; with crude & gas prices where they are - don't see anything major... maybe if the DOW melts down; we hit OSX 58-60 as an intra-day low in an absolute worst case scenario; but - those levels will trigger immediate sector rotation into the Oilpatch. This is a "fair value" bottom here imho; only external factors, or manipulative news spin doctoring on OPEC breaking down, or downgrades into a selloff etc. will take us much lower. Again; watch SLB . ... and the E&P's with strong earnings here will be fine. Many are not budging here - and for good reason. Got SII ?

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