simply amazing...
What really bugs me; is that now some A$$H%(#@ can merely ''rotate'' over here and drop a little cash and literally steal some great companies - with EVI RON RIG FGII FLC selling at what they are today - this is the single greatest buying opportunity I've ever seen - in any sector - ever ! This has gone beyond one of the alltime great sector Home Runs - the S&L stocks from a few years back...
Bargain, value, cheap - not even adequate words here... For anyone with cash - making their ''FIRST" entry into Oils - buy here with 40-50% ! You'll still have funds for 2 remaining forrays on averaging down - however with FGII or FLC close to single digits - $9 , $6 $3 seems ludicrous - we have to be at hostile takeover levels here - DO should use some of its cash here...SLB should be like pac man here; - PGO, SCSWF, IO or CXIPY are sitting ducks here...
But once again - none of this matters -99% of the worlds mutual funds are week to week, month to month & quarter to quarter return oriented - so few have the desire or ability to simply ''steal'' these companies here and ride out the ''return'' storm for a year or 2...
Another thing; Don't you want to puke; literally ''hurl''; when you here these crybabies complain about ''freefall'' or ''crashes'' in the DOW stocks of 2% - TWO Percent ! - what weak sticks ! We've seen daily losses of 3-4-5-6% so often that a 2% loss is a damn rally !
I really feel sorry for those who made fundamentally sound, intelligent buys here and were on margin or had options; because the losses are 60-80% of total portfolios...
Bottom's ? - why bother - once we are in single digits on FGII & FLC - zero becomes the bottom - are we gong to see some companies with cash that exceeds their market cap - what the hell are these damn fund managers thinking here !...Some of these companies have market caps of $75-$100 Million but have $15-20 million in cash !?!?! and no damn debt ...this is the most insane valuations I have ever, ever seen....
We will ultimately read about some historic returns here - one of the great run ups in history; of this I am sure; but I've learned an incredible lesson - we are unquestionably in a pure momenteum oriented market; there is virtually none - ZERO support of a sector or stock that is dead money. This is an incredible opportunity for the value funds - there are just to few of them to matter.... the David Dremans of the world who are probably the only buyers here - will have record setting returns in 2 years... I can not believe the extent that wall street has become the epitome of out ''Instant Gratification Society''... if we can't show a profit returnwise in a week or month - we aint buying it... It's gotten to where the DOW 50 and Microsoft, Dell & Lucent are virtual "Ponzi" schemes with Institutionals just ''trading'' their own money up & down...insane.
One is tempted here to borrow, cash advance, leverage, bet, gamble every damn dime to ones name on companies like FLC or FGII - in single digits - it's either a fortune or bankruptcy; lets no longer play the middle here - why wait years for slow returns; retire at 40 or go broke & start over - roll the freakin dice ! - either the world is coming to an end or it is going to come to its senses - we are literally at that point in this sector - we are at the equivalent of DOW 3000 here ...these stocks have literally priced $8 oil, dayrates where the drillers could actually pay the Oil company for the opportunity to drill; is built into these prices - there can be no more bad news ! Nuclear War and Black Rain have been priced into these damn stocks !
If this aint the damn bottom - 1929 is around the corner.
I am going to see how much my cash advance lines and home equity lines have available; picking up a copy of Bankruptcy Law; buy a years worth of canned goods & survival supplies (damn was LT right ?) and rolllllll the dammmmmmn dice. Oh and a bottle of Stolichnaya... |
