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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: isopatch who wrote (4729)	12/1/2001 12:28:24 PM
From: isopatch	Respond to of 36161

Quote of the day!<G>. Revisits dangers of "Perma Bull" thinking in a Bear Market. The quote below is one of hundreds of worthy examples from the same poster. But it is a classic display of the complacency, denial and cavalier attitude toward risk that the Perma mind set can produce?! "Where never is heard, a discouraging word", let alone a SELL recommendation?<G> This once revered patch guru on Yahoo, has blow most of his flock out of the water and off the discussion boards with stopped clock, canned and packaged bullish commentary all the way down from the top - at the beginning of this year! This man's gradual public demise and humiliation over the ensuing months is a dramatic example of someone who knows how to write convincingly, but has no understanding of the factors that govern major trend changes in the very cyclical and sometimes quite risky O&G sector. FWIW, never been in a back and forth with Dan or exchanged email with him. Nothing personal here. Rather, an example and food for though on a quiet weekend that we're very fortunate to have a thread like SD II. We don't claim perfect track records. It's a very tough to navigate a Bear Market. OTOH, on this thread, clowns aren't granted pilot licenses to crop dust us with powdered dino droppings.<lol>. Again there are hundreds of other head banger posts from this dood all over the VPI thread since January. This is just one of the more amusing of the recent ones. Cheers, Isopatch messages.yahoo.com <I just listened to a brief discussion of what's going on over at Enron. 1. Institutional investors were upset by sudden departure of Jeff Skillings 2. They were told that he'd just had enough and wanted to count his $millions and play more golf. 3. Enron announces big asset write-downs (IMHO just to get bad news out of the way so next year looks better) 4. Investigation announced today by SEC is "the last straw"; institutional investors are really PO'd and running for the exit. Enron has solid earnings looking forward so this sell-off appears to be an over-reaction. By itself, this SEC "inquiry" is rather insignificant. Worst case this is an inappropriate related party tranaction and the officiers involved have some personal problems. Very little chance of significant financial impact to Enron. DWY>