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How Long Can the Crude Monkey Laugh?

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Stop sign? Caution? The Crude Monkey laughs at the notion.

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I can't help but sit here and think back while I watch the OIH relentlessly attack 164, 165, do I hear a 166?

All this after a remarkable rally. Ignoring any stop signs, it feels like the third base coach is trying to wave his hands but Hoofy's friend the Crude Monkey (Toddo, let's patent another critter) has tied him up, taped his mouth shut and he's been rolled into the locker room to stare at the player's only buffet – a feast which is off limits to bears and pikers - those silly traders like me who worry about risk at these levels.

Stop sign? Caution? The Crude Monkey laughs at the notion. How do I know? He just stepped into my office. The company that just moved in next door, and I've been hearing their rather robust chuckles for weeks now in my firm's trading room (usually reserved for muffled tones and occasional whimpering), is an oil and gas company. I had never met them before but their smiles are hard to squeeze by in the hallways. The head C.M. came in today to pick up a computer that was delivered to my office last night; while they were likely out lighting cigars, I was still here putting out fires. I didn't know how to introduce myself, as a money manager or an applicant for an admin position with his company who just signs for packages?

He tells me that his company is going public soon, "Most of our peers have been doubling recently," he explains matter of factly.

Then it hit me, as I was staring at a huge photograph on my wall of a gasoline station from the 1920s, the only known collection in Houston from that time which the father of a good buddy of mine saved. Most were melted for silver content he tells me (Prof. McGuirk's ancestors' fingerprints are all over that crime scene). A gallon cost 13.5 cents, state tax 4 cents, federal tax 1 cent (all clearly displayed on the sign – what a concept!). The name sitting on top of that filling station? "HUMBLE" in big letters. Those boys from Humble Oil wouldn't believe their eyes today.

My firm was overweight, then double-weight, then triple-weight the energy sector over the past six years, back down to merely overweight today. I had even suggested recently in the Buzz that for the first time in a long time we felt like we were set up for a short-term pullback in energy equities. My quote screen is laughing at that notion along with the guys next door.

But I am listening to an old baseball coach's wise words instead. Casey Stengel once said, "The best time to think about losing is when you are winning."

If I had to guess with Gasoline nozzle to head, I wouldn't be surprised if by the time these guys go public this summer, the Crude Monkey and the OIH aren't laughing quite so hard. Even my son gets exhausted after laughing for too long after ignoring stop signs.

And oh yea…by the time I was done with this scribble, that 166 was bought, and then some, do I hear a 167?

Fill 'er up??? I'd rather stick with Humble in here.
Position in energy
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