I personally don't care about Iran deal. I sold WRES last week for a profit. Then I bought it back this morning. WRES will be heading back above $1.00 soon.
In the near future oil fields will become a symbol of the dying industrial age. Tomorrow's energy will be harnessed from the sun and earth's electro-magnetic fields very cheaply, and all clean and renewable. The technology is here today already. Major oil companies have the blueprints to move forward with it at the right time. This is why you don't want a Fracker in your retirement account..
Everyone is too focused on the here and now with currency fluctuations and oversupply to remember that the long-term demand for more oil as developing countries like China that once had bikes and rickshaws are now using more cars. Cheap electric cars are still a ways off and oil will come back in price again. In the meantime WRES has shown decent results and have gotten out of more expensive drilling. They should be able to survive this downtown and recover like the rest of the industry. When they do, remember that a few years a go this was a $17 stock and can be again. If that happens again in the next few years a $10,000 investment in your IRA now would be worth around $188,000! Isn't that a decent bet?
Sentiment: Strong Buy
3-30 I live in PA and see low PA frack gas prices now. The reason is lack of pipeline capacity.
That should be cured within a year. Then, the PA gas price will rise to national levels and help WRES and others.
.."Brent crude futures (LCOc1) were down 42 cents at $55.99 by 0633 GMT as the market began to price in a potential deal with Iran. U.S. West Texas Intermediate (WTI) (CLc1) was down 84 cents at $48.03 a barrel.
Barclays said that the U.S. build-up in stocks would make its way into an already oversupplied market in the second quarter and that global demand would unlikely be strong enough to support oil prices once that happens.
"In OECD Asia, demand growth actually fell from -3 percent to -4 percent (in Q1) ... Apparent demand in China was around 2 percent higher, but actual demand is likely to be lower since seasonal stockbuilding typically takes place after the start of the year," the bank said. It added that demand growth in the OECD region had been in structural decline over the past five years.
"Continued dollar strength is (also) a headwind to the oil price recovery," Barclays said, forecasting the dollar rising slightly above parity with the euro by Q4.."
That rally you're boasting about? Its called an "Afternoon Delight".."24 Hour Special".. "Hump n Dump".. just long enough to get your rocks off,, Bwhajahaa!
I think you are confused, Luke. I think everything in my posting was just dead on accurate.
WRES literally went up in the next hour and rallied till close..
Sentiment: Strong Buy
Sorry Rudy, she took a BIG FAT DUMP instead... Look for more of the same and an 84cent re-test that FAILS!
WRES couldn’t be more shamefully low if it tried; what a terrible play! I managed to salvage something by playing Ultimate Stock Alerts (you can find them in Google)
I also admitted there would be oversold bounces along the way.. great places to short and 2nd chances for baggers to sell to new baggers who get caught up in the bull trap,, now oil is down again.. surprise, surprise!