Strictly: Drilling

[Isopatch]

Hi Frank,

Thanks. When I was at Merrill Lynch in the 70s and early 80s Bob Farrell was head of the Market Analysis Dept.

He probably taught me more about contrarian thinking than any other single person. Every Tuesday morning he held a firm wide conference call that came through each office squawk box. He would review the most important things he saw unfolding in the market environment talked about specific indicators, sentiment, fund cash levels, the whole 9 yards. But the wealth of insights on how contrarian strategies can be applied in different market, sector and individual stock situations really surpassed everything else, for me.

But he also hired a stellar group of TA guys to follow up on the general themes he developed. The FA Dept analysts got all the attention from the big time veteran brokers in those days. So even as a young broker I had easy and frequent phone access to brain storm with some of the best TA thinkers and stock pickers on W.S.!!

Phil Roth later went on to run the Mkt Analysis Dept at Shearson Lehman, Lou Smith became dept head at Butcher & Singer and Robert Prechter (only talked to him briefly once) went off to write his now famous EW book with Frost.

Funny, at the time something like that is occurring in your life you don't usually realize it's full significance till much later. Looking back at it now, feel incredibly lucky to have gotten such outstanding guidance and mentoring from some of those guys.

Sure wish we could get KGC rolling. Maybe when Slider rejoins us we can get the critter jumpin' again<G>

Iso