No need to read API, here's the scoope in laymen's language.
Big oil stocks are tanking along with crude price. Crude went under $20 pb again today.
Rusia, Mexico, and Venezuela need to feed their people. Rusia will keep selling to gain market share. They want to be #2.
Venezuela needs to shut down before crude can move up again. The same thing happened in 1997-1998, when the Saudis let it drop price pb drop to low teens to show up Venezuela. It took 6-8 months in the low teens before Venezuela capped their holes.
Don't pay too much for stocks if your objective is to make money. Do your own research before investing.
You don't strike out for not swinging when it comes to stock investing. I'm still waiting for BP and other fine stocks. The key is to know what you want to own long term, and what sensible price you are willing to pay.
Recently KO met my criteria and I bought more at $44.19.
Russia is increasingly relying selling hydro carbons to feed their people. We still might see BP ADR @ $36-37 yet. In the mean time, my limit buy orders don't cost me anything until its executed.....
Next time you give us laymen the scoop in terms we can understand........keep it to yourself. You sure look stupid when you talk down to someone and you're wrong. All you folks who shorted BP..Get ready to get f***ed.
Don't be fooled by short covering. This puppy is going down. I know xom beat expectations but earnigns were almost cut in half. chemicals production, downstream are all hurting. I will be a buyer at $36-$37.
For the technical traders we gapped up yesterday which means we will be covering the gap shortly.
I will make a friendly bet with you. BP will hit $50 - 52 before it goes to your predicted price range. Also, thank you for talking down to us in a language we can easily understand. Its very nice of you.