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Noble Corp. Message Board

  • headturner_pompanobeach headturner_pompanobeach Dec 26, 2012 10:21 AM Flag

    Hey Chuter

    oil up almost 3% today and the drillers aren't doing well?

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    • We usually only follow the price of oil in a very general way. Oil prices have been trending down since mid September, and as of today look like they might break out of a month and a half range to the up side. As yet it doesn't seem to matter, but if we reverse the downtrend and continue up for a month, it will start to matter I think (especially with the good seasonal trend coming up) The truth is none of these oil price fluctuations really matter to the price of dayrates unless Oil prices tank hard and stay down or spike hard and stay up.

      I feel I was too hasty in selling all my NE, so I bought 1k today (as a start) a little cheaper than where I sold it. Now that the markets have sold off for a few days, my opinion on a "sell the news" on a fiscal cliff resolution has changed. I now think we'll trade up on a fiscal cliff resolution if it happens in the next few weeks. Early January usually favors a market rally.

17.05-0.56(-3.18%)Dec 24 2:48 PMEST

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