To: James J. Cramer who wrote (134 ) 12/31/1998 11:10:00 AM From: SliderOnTheBlack Read Replies (1) | Respond to of 766
Old Cramer versus New Cramer - the ''NOSX'' - Wrongamundo ! Say it aint so Jim ! I can only hope that the Godess or young Seth Tobias can talk some sense into you <VBG> . ie: <<What am I doing? A little bit of POFS and a little bit of .coms. And, of course, NOSX, which stands for No Oil Service Index stocks. >> No Oil Service Index Stocks ? -- Blasphemy ! A sad day in Muddville when one has to ''diss'' his favorite market maven <VBG>; but has ''The Man'' turned into a pure ''Mo-MO'' trader ? Has the Internut Bubble blinded him ? What happened to the ''old'' Cramer ? Hard to imagine that the guy who had to walk up to the ''Mick'' one early spring day in St. Petersburg and tell #7 that ''he's been a tad late on the fastball .. and it didn't look like he'd be catching up anytime soon'' - enjoyed himself. Cramer; your words of wisdom on old tech vs. new tech, or on the S&L's has made me money; but on the Oilpatch - WRONG ! <<"Nine-dollar-a-barrel oil is not in any driller's forecast and this new low-priced environment is wreaking havoc with the budgets of the majors and the minors. ">> Cramer; $9 Oil is a blip, a trading anomaly. Domestic refiners loaded up on what they perceived as perhaps the last bite at the ''historically'' cheap oil apple. They built storage levels to near capacity. With a La Nina winter expected, in light of International Rate Cuts and Stimulus packages and many reasons for seeing a bottom in crude; they loaded up on cheap crude. Temporarilly, there just isn't anywhere to store crude in the US. Prices were artificially and temporarilly depressed due to this move by refiners. I disagree and believe that not only is $9-$10 crude priced into the Oil Service and Driller stocks, but the fear of ''dead money'' and the ''unknown'' is also priced into this sector ! Prices are at, near, or even in some cases, below levels of when ''the world was coming to an end'' during the Global market crash, LTC's ominous cloud and when no one knew what Mr. G or Japan would do... Those ''Billions & Billions'' injected into Japan and the International Rate Cuts have to stimulate demand; not to mention the ultimate inflationary effect it will have on commodities... Jim; have lunch with Rainwater - pleeeeze. Irregardless of the reasons why crude is trading where it is; where is the ''old'' Cramer ? You know, the one who ''wants'' it because no one else does... The one who is buying, precisely because the fundamentals can't get any worse... The one who buys when there is total capitulation and blood in the streets .. The one who would buy virtually anything (like the S&L's) when they are at decade or even historic low valuation levels ? Old Cramer vs. new Cramer ? Give me the old Cramer. It's time to go back the the batting cages Jim; go back under the stadium, get in the net & take some BP. Get that swing back man.... You're missing one of the great sector plays in decades ! Cramer this is an 85 mph fastball waist high down the middle; if you can't knock this one outta the park; be looking over your shoulder, because that Old Coach ( Berkowitz, the Godess, Tobias, The Street ?) is going to be coming up to have to tell you that the old swing aint what it used to be... After some BP ( homework); hope to see the ''old'' Cramer with that sweet swing again; coming out buying the 'patch... line drives everywhere and a few upper deck moonshots as well. This sector is throwing nothing but 85 mph fastballs down the gut right now; gotta have that swing working here... 'cause if you can't hit this one; could be time to hang up the ole spikes... You've got a chance to make ''THE'' sector rotation trade of the decade imho; Sell the Internet and buy the Oilpatch; old tech is in again(cheap) and new tech is out (insanely expensive)... The ''NOSX"' - say it aint so !