Morgan- you are just trying to change the subject. ---And being very misleading in your method. Let's stick to the energy industry.
Are the Dems pushing the drinking water contamination propaganda or not? Of course they are. The EPA even drilled their own well as badly as they could and failed to contaminate anything.
Has the Hildabeast vowed to shut down fracking or not? Yes, she has.
Has she vowed to blow a Trillion dollars on solar and the Smart Grid (otherwise known as Big Brother) or not? Yes, she has.
Are the Dems using the EPA illegally to bypass congress using their "Clean Power Plan" scheme? Do any of you even know about this? If Hildabeast becomes president, she will pack the Supreme Court will liberals, this will become law and we can say good bye to our energy industry. This would give the EPA absolute control over all aspects of energy in this country. Those fools at the EPA (I know many of them) do not care about costs and have no doubt about their global warming ideology. We are at the precipice. Hildabeast will push us over into oblivion. If you read about this in the liberal press you will think that they just wants to convert from coal to NG. Nonsense, this will give them absolute control to convert to solar and they will. This will be a disaster of proportions far beyond anything Trump could cause.
Debt for Equity swap- It looks like about a 2% dilution, but a benefit of reduced debt. This doesn't explain a 10% SP drop.
$1 bil in new debt- Of course, that makes 1 bil in new cash, also. I don't like convertibles, but we are taking convertibles off the table, also. Never heard of convertibles at the companies discretion. What is that about? All that cash to clean up short term problems should be a big positive. It sure shook up Dallas S.
What is all the talk about the DOJ? Is anything actually new? Does anyone believe that CHK has acted illegally after AM? The big fear in my mind is the Dems not caring whether anyone did anything wrong- they just want to destroy the energy industry. Deutsche Bank didn't do anything illegal, but that is not stopping the Dems from trying to destroy them- not that a care about a kraut bank, but I do care about the rule of law.
Is there something new about drinking water contamination? Some idiot on here opined that people should just suck it up for the common good. What nonsense. No one should suffer contaminated drinking water for others "common good". BUT it isn't happening. That is Dem propaganda. If you are a CHK investor and believe that CHK is contaminating drinking water, you have a problem with your moral compass.
Finally, I see a couple of sleazy law firms are trying to gin up a class action law suit. If you join them, you are trying to destroy CHK. This type of law suit hurts everyone- company, investors, employees- except the sleazy lawyers. You will not get a nickel.
Those lease holders in PA should look at which party is promising to install 500 million solar panels. Did you hear the Hildabeast brag about that during the debate? This was suppose to improve the economy, but there are no solar panels made in the U.S. anymore. They are all made in Asia.
And don't think that NG will be used to fill in the gaps. They intend to install batteries. You can bet they intend to tear up the pipelines so we can't go back either. They are already stopping all pipeline construction.
Of course, what those fools will do is bankrupt the U.S. so we will all just freeze in the dark. You probably think that Hildabeast is in the back pocket of Wall Street, but that is what you said eight years ago about Obama- he won't really govern that way. Well, he did and economic growth has been half of normal. Hildabeast will destroy our economy starting with the energy industry.
CHK shares have been selling at more than all the shares trading every quarter for years. Recently, a billion shares have been trading a month. This is true even though 97% of the stock is held by institutions.
I don't know how insignificant news like today could cause this price movement based on a "sell off". Looks more like short term short selling. I think they will get burned.
One thing has been very consistent with Lawler- his word. CHK doesn't say much, but what they say is accurate. Icahn sold for tax reasons and the board members did not leave because of any disagreement about company operations or plans. Those statements are public record. There is no way they are not true. That you can take to the bank.
Now, we have a quadruple bottom. I am afraid my computer will explode. I better turn it off and go do something productive.
Now, we have a triple bottom which is also known as the "Bust Line". It looks like the right "breast" is bigger than the left and the left one has an "innie" rather than the normal "outie". That is just gross, but I will leave it to the tea readers to tell us what it means.
Joe/John has started to bore me. I thought this discussion would be more interesting.
Nostradomis- you made your prediction of further drop in SP at the exact moment it hit bottom and started back up. Are your predictions always this wrong and can I get them real time?
Seriously, most of this technical analysis is somewhat predictive, but mostly because it is self-fulfilling. When the SP move is caused by some event, technical analysis is not so predictive.
Gee, it has formed a Double Bottom. That means we close above 7, right?
Icahn was over represented on the board. That was great when they needed adults to supervise AM, but adults are in charge now. Generally, his purpose on the board is to force cost reductions to make the income and balance sheets look better. That phase is over. They need oil men. I don't see this as a problem at all. The other big investors probably told him to put up or shut up.
This price drop is over done. Glad I was selling covered calls. Too bad they were not in the money. Now, the SP is too low, so I will need to stop selling them.
Creighton- I have three problems with making statements like Nigeria having a $30 break even. I know you are just repeating the conventional wisdom which is kind of an averaged down summary of each country. But, it is good to keep in mind the numbers behind the summary.
First, Nigeria does not have a single oil well producing oil at exactly $30. Nigeria, like any oil producing entity, has thousands of sources of oil and every one of them has a different cost. Some wells are wearing out every day and decisions have to be made how fast to extract the oil, and whether to invest in what technologies to increase production to make up for the lost production. Since decisions are made by dictators rather than oil executives, I doubt if they are looking at the cost of that last barrel when they produce it, but that will cause their demise.
Second, exactly what costs are included in the $30. I am sure it includes all variable costs, but does it even include all the fixed costs of production? I once saw first hand how Total allocated fixed costs of a U.S. chemical subsidy. Because France is a socialist country, they do not write off capital depreciation. To an American businessman, this is crazy. To a socialist, this is SOP. All the OPEC nations are socialist. They need high margins to generate capital whether they recognize it or not.
Third, these countries have a huge social cost which needs to be lumped on as an additional fixed cost. None of them can produce enough oil and the world cannot absorb enough more oil to cover those costs at anything less than $60 oil. They all know this. Maximizing production at each others expense will eventually bring most of them to ruin. It is just a matter of time.
" That's so what we all want protection from the greedy pricks. So why are so many opposed ?"
This is like the protection you got from insurance companies with ObummerCare. Now, the only insurance companies left are in the back pocket of the gub'mint. Hildabeast wants to turn the whole thing into single payer because it is collapsing and you will eventually realize that you sold your soul to the Devil. In other words, the gub'mint screwed up so let's give the gub'mint more control. Great idea, Hidabeast.
The CFPB doesn't answer to anyone. It is as independent as the fed. It will turn the banking industry into a tool of liberal politics. It will make Slick Willy's Community Reinvestment Act look conservative. My sister-in-law called last week wondering where small investors could get advice now that the CFPB has made it impossible for brokers to offer advice. If you want to know more about why "so many opposed" search "The CFPB in Action: Consumer Bureau Harms Those It Claims to Protect". Lizzy Warpath is pure evil.
If you hate free enterprise so much, why not put your money in gub'mint bonds?
I don't like defending banks or bankers. They are barely above lawyers and politicians in my estimation, but Lizzy Warpath is such a lowlife, I will defend bankers if she is the one attacking them.
She should go to jail for impersonating a Native American to get a job teaching at Harvard. Look it up. She, in fact, did that. Don't know whether Harvard would have actually hired a native if she had not pulled her "fraud", but at least she illegally got them off the hook. They could claim affirmative action points while doing nothing.
Anyone investing in CHK should be concerned about politicians like her. Oil companies, in general, are rated lower than lawyers by the general public. I think that is very unfair, but it is reality. Slimy politicians will attack the oil industry every chance they get just to score cheap points. Lizzy Warpath is the slimiest.
"The Labor Dept. has been consulted regarding the coercion of bank employees"
When I was a teenager in Iowa, I worked for a couple brothers who had a plumbing and electrical company. When a hog water had to be fixed, they sent me out to do it knowing that I would literally have to lay down in hog manure to get the job done. For this, they paid me $1.25 per hour. That was less than the minimum wage in the 60s, but they were a small outfit and didn't have to comply. This was pretty good incentive to finish my degree.
Now, the labor dept. investigates if poor little bankers have to try to sell banking products??? If you don't like what you are getting paid to do- find another job.
Like I said- the banks were the victims. Not that I care since most of them are run by either San Francisco or New York Democrats. I just like the truth.
The tax payer never lost any money on the bank "bailout" either. The banks were forced to sell their derivative paper to the gub'mint for pennies because they had to follow mark-to-market rather than the more logical mark-to-model The gub'mint made money on every bit of it.
Where the gub'mint lost money was giving money to AIG (which they turned around and gave to Goldman Sucks) and bailing out the GM union. Someone should have been impeached over that. I wonder how the Clintons spread that speech money around enough to get that done?
This was a DemoKKKrat scandal from the start with just enough help from self serving Republicans to spread the blame. Of course, the media was too ignorant or too biased to report on any of it. Unless they could broadcast a banker being frog marched, they were not interested.
Those of you who think that employees of big corporations are all crooks are just clueless. I spent my career in the chemical industry. We watch every step we take because we know that the EPA would do anything to get the opportunity to frog march us. The crooks are all in the gub'mint and they get away with it every day. Just look at Hillary.
First, it wasn't fraud, it was high pressure sales that backfired on WFC- have you ever bought a used car? Second, Lizzy Warpath's unconstitutional bureau didn't discover anything. It was the LA Times in 2013 that first wrote about it. I knew about it before then, since my son worked there and hated it.
Finally, the only bankers that should have been jailed were the ones in Washington (Freddie and Fannie) but they were protected by their Democrat handlers like Franks and Lizzy.
The only reason I bank at WFC is because it is too much bother to switch and I figure they are all the same. They are all so regulated that they have no room for decent customer service. They are all full of Democrats, so they can all go to he11 as far as I am concerned, but the real evil is in Washington. The Queen of Evil is Lizzy Warpath.
Morgan- what a load of revisionist nonsense. Frank, Fanny Mae, most of the Democrats and a few of the Republicans insisted on those liar loans. The banks were the victims. Read "Reckless Endangerment" by Gretchen Morgenson. She is from the NYT, so she is no conservative.
Lizzy Warpath is just the latest reincarnation of Frank and Dodd. She only attacks the banks because she is a socialist and hates capitalism. Wait until she gets a shot at CHK or any other free enterprise institution. She hates them all and she hates all of us because we own stocks in them. She is the enemy.
"Ignore" is under "flag" on my computer, but I can't get the flag options if I am on my Android phone.
In the past, half the posts came up with flagged people. Now, It is only Joe/John and Paul and even Paul is not as irritating as he used to be. If we could just get rid of Joe/John....
"sourced from breitbart or some other obsure corner of the web?"
My source (among others) is the Wall Street Journal. I know you can't check that because you can't afford the subscription.
Don't mean to be a spelling scold, but you misspell more words than you get right.
Slick Willy was paid $17 million to be an "administrator" at a for-profit college- Laureate International Universities. Since then, 2 out of 3 of this college's competitors were put out of business by the Obummer administration. The other competitor is owned by the Washington Post.
What is amazing is that Obummer hates the Clintons, but still helped them on this. He must have received a huge payoff. Not only are Obummer and Clinton corrupt, but the entire U.S. government is now corrupt thanks to the corrupt Democrats. Whoever flashes the most cash will get their way.
Joe/John- Has it occurred in your pea brain that the majority of people on this board have a reasonable amount of respect for Creighton and you are doing yourself no favors by starting a thread that insults him?
I spent the summer in CO hiking and Jeeping. Now, I am back in NV, relaxed and ready to dedicate the next two months to helping Trump become the next president. John, you are such an inspiration to me. I want an autocrat for president who will outlaw your existence.
Don't wait for the rush. Move to Canada today!!!