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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 693.93+0.5%Feb 9 4:00 PM EST
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To: Drygulch Dan who wrote (93336)6/12/2017 10:47:17 AM
From: robert b furman1 Recommendation

Recommended By
Mevis

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Hi DD,Tom Lee from JPM? is long crude based on the belief that demand growth is understated globally.

Global reflation will grow demand and supply will be less in Iraq ,Libya ,Venezuella, and no more growth of capital investment in Iran / Russia.

Long term futures have become favorable as long term pricing has firmed.

I've bought a bunch of Ensco which has a terrible chart.

The price of Ensco dropped after they announced the all stock acquisition of Atwood Oceaneering ( the most modern jack up drilling fleet in the world and concentrated in the Gulf of Mexico).

Ensco now has the most modern ultra-deep drilling ships AND jack up drilling rigs.

The stock can be bought for less than the cash per share at this time.

Much like the frackers - they have greatly reduced their costs of operation and are becoming profitable at much lower crude prices.

I love to go out and fish in the gulf of Mexico from Venice La. The deep water drilling rigs are excellent structure and thousands of fish congregate within the under water structures .

It is a very long term bet.

If you bought tech in 2002 and banks in 2009 - you would have been rewarded for your patience.

Just part of a lifelong building of great companies with big balance sheets - has to be part of retiring and being comfortable.

Heck some day when I'm rich - I'm going to be like you and have a sail boat! <smile>

Bob

Bob
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