THE CRAMER AD IS GOING TO MAKE MY HEAD EXPLODE

Hope he’s paying a lot for the placement…nuf said!

We just returned from playing hooky and found that Oceaneering (OII) reported a blow out number. Not only was it big, but guidance was upped as well.

Remember, this is the stock that I went “off the reservation” with and publicly recommended after “top kill” failed and it fell from $55 to $40. That was June 1st. Realize that I usually save these gems for my paying members only…

The stock closed near 47, and is indicated 51.50-52.50. We will sell near 55 but it will go higher. As nations of the world drill offshore, Oceaneering’s expertise will be in great demand. This will be a $100 stock in a year or two but we’ll have traded it out with a 35% gain in 2 months. I’ll take that every day, thank you very much!

This IS NOT a reason to buy here, but I’m not sure you should be selling or stopping either. If you bought as a hedge against something (inflation or deflation or armageddon) then hold. But look at the support right here…

BTW–this chart was posted Sunday July 25th.

Since Tuesday morning, July 20th:

DOW up 517 points or 5.1%
SPX up 58 points or 5.5%
NAZ Comp up 136 points or 6.3%
TRANS up 428 points or 10.5%

Watch. Now everyone will turn bullish and the media will tell you how much better things are doing. In fact, the bearishness was so thick that hardly anyone on these boards was in anything but a hedge or in 100% cash…

Plus, the Administration looks done. Between being scared of Glen Beck and now the Wiki-leaks, don’t expect anything to happen other than damage control. It is amateurs on parade. That’s what you get when you elect a rookie. The markets love it…and don’t forget to watch the View on Thursday!

How about this pretty picture? Still another big hurdle to get through: 1130…

Took some flack for putting this out last week. How’d we do?