Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: 2sigma who wrote (52117)	8/5/2004 11:56:12 PM
From: Taikun	Read Replies (1) of 74559

OT/ One idea is that $45 oil, or $35 oil for that matter, is ot good for the economy, so overall demand will decline. The other idea is that the average stock is 80% correlated to the index, so even being in oil doesn't provide that much protection. I laughed when the news showed Pixar's 100% increase in profits (not to belittle Pixar, but some energy companies have been doing much more than hat, but they are not the darlings of Wall Street, and sold off. For an example, look at MVKs chart after they reported a 5100% increase in profit a couple of weeks back-it sold off) Finally, even with $44 oil, most investment banks are stillunderweight or neutral energy, I could be wrong, just what I've read. I think we may get a little bounce but overall it is still looking bearish.

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