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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: andiron who wrote (95804)	7/22/2008 4:13:22 PM
From: Keith Feral	Read Replies (1) \| Respond to of 110194

I look at some of the awful recommendations by the energy and commodity analysts the past few months. Lehman's analysts serve as a good example. They increased price target on FCX to $200 at $120, RIG to $186 at $160, ACI to $100 at $63. These guys are starting to look as bad as the financial analysts in Spring of 2007. All of the trends in metals and energy stocks are beginning to break down. It's getting damned near impossible to make any money on any of these trades. Meanwhile, banks, airlines, and other industries are posting huge gains, albeit from the bottom. It will be interesting to see what happens with the Anti Speculation Act for oil in front of Congress. If they enforced the rules, they could eliminate alot of the institutional pressure on commodity prices by hedge funds, index funds, and pension funds.