Originally posted by Gonzo:
(I can't believe I'm posting this...)
MM is right. This whole thing is based on what they "THINK" the price will do. They hear some dumbass say it's going to go up and it does. How much does he hold in this again? Self-serving prick.
Sorry, but these analysts have power and they are simply abusing it. People listen. They have a responsibility to keep their traps closed and let the market do what it will.
It's pretty hard to take when we're paying as much for gas as we are and the oil companies are recording record profits. Then they actually have the balls to tell Congress that "we're a huge company. We should see huge profits." There's a difference between huge profits and RECORD profits quarter after quarter. THAT'S what's pissing everyone off about this.
Sorry for the rant...
-G
First you say you agree with me, then you go on a rant stating many disagreeable things.
I don't even think you know what I was saying when you said you agreed with me.
Analysts who work for firms like Morgan Stanley can say anything they want. Their jobs are to provide information and advice for their firm's and their clients. However, some can, and have, used their position to manipulate the markets. Henry Blogett of Merril Lynch comes to mind.
Morgan Stanley recently came close to edge with massive losses. They have borrowed massively from the FED (which I don't think they should be allowed to do and I am against the FED's expanded lending policies) and they have borrowed heavily from foreign sources.
My concern is Morgan possibly being involved in illegal manipulation of the oil commodities market to recoup some of their massive losses and offset debt.
The oil companies ARE NOT the bad guys. The markets and what is going on in the oil trading markets are the problem.
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