David Cooper/IBD debate continues.....
With guys like this screaming tech/internet/telecommunications and downplaying Oil Services, it shouldn't be surprising the sector is slow to recover.
"David,
Cooper: "IBD now has the largest databank
of stocks in the world. Todays data is analyzed
by computer, not by man."
Questions:
1. Did the IBD data bank tell you the Crude Exporting Nations would reduce Production by over 2mbpd?
2. Did the data bank tell you that WTI crude would increase 29% from $11.72 on Dec 10, 1998 to $15.14, today?
3. Is your data bank telling you WTI crude will likely be in the $17 to $20 range by the end of Summer?
It is easy to contemplate the Oil Service Index rising to 100, or higher in 1999 because of the significant change in expectation in price increases of the underlying commodity. It has been there, done that….
osxstocks.com
The OSX closed at 64.13 today. An increase of 56% will take it to 100 (50 points below previous high)
The DJIA closed @ 9997.62, today. To match an OSX 100 level, it will have to reach 15596
The S&P500 closed @ 1316.55, today. To match an OSX 100 level, it will have to reach 2054
4. Does your computer tell you which of the above scenarios is the more likely occurrence?
If your computer can answer the above 4 questions, I would like to know the manufacturer, because it is one I haven't heard of yet.
I suggest you change your mantra to: "Today's data is stored, sorted and manipulated by computer; but, is analyzed by man who also considers concurrent information and events unknown to the machine."
Have a pleasant evening.
SargeK"
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