That is a good question that I don't know the answer to. If this were in the US and the liabilities greater than the assets then all of the shares would most likely be canceled. The company can still survive and may issue new shares after it emerges from the restructuring.
market cap is meaningless in BK. My experience with US based companies is that assets to liabilities is the only ratio that matters.
I second that. NG demand will increase under Clinton. It's part of her not so "clean energy" plan.
Sounds like you expect better than 45. Holiday weekend and Temps slightly cooler than prior week that was 37.
I'm good either way. If drops buy more if rises pick point to sell.
I bought some this morning as I buy and sell incrementally. But there is plenty of potential that NG traces back towards $2.60ish or even $2.50ish in the short term. Tomorrow's report will drive this week. I hope that the report is terrible and I get to buy more cheap. Otherwise I'll be content with my small position.
Long term $35 or lower. Still way to much supply and decreasing demand. Some day oil will likely go the way of coal. That is likely decades away but we are feeling the first pangs now. If someone had said that about King Coal 20 years ago no one would have believed them.
Do you think there is chance that the shares will survive? I know that BK is different in Brazil where the common shareholders have more control and aren't last in line like in the US. But I don't think that the assets are larger than the liabilities which is the typical metric for whether the shareholders get anything.
Buying the common around $1 after the BK would have been nice. I expected it to fall much lower before bouncing so hard.
They are waiting for tomorrow's report. The holiday and mild weather could lead to worse then expected numbers. My crystal ball says we revisit $32 again or possibly lower. NG should at least touch $2.60ish before resuming move.
I too see the strong possibility of a correction and would love it if NG came back to $2... I would go all in. I don't think it will get that low though. I see it going towards the $2.60 range then moving higher. Possibly getting close to $4. I don't think it will go higher than that within the next year or so.
Still long NUGT but considering selling a portion. DUST looks tempting based on price but very dangerous. I suspect it should correct back up towards $10 but long term should trend towards $0. Of course it will never hit $0 but long term trend points at it.
Not sure if very many of your read Celsius Energy but it is really good. He can be wrong on his projections but he is typically close. Predicting a bit of a correction here as his fair price model has NG closer to $2.60 based on historical prices. Long term trend still going higher though. I have started a small position and will add if there are significant dips.
Interesting. Some serious conspiracy theory stuff. I do love a good conspiracy theory. I'm an environmental scientist but it sounds like the government must have hacked my meters which would better explain the readings I've been getting. ;)
I suggest checking out the Skeptical Science app.
Seriously. You probably don't think climate change is real either. You can still be a capitalist while accepting science.
Thanks. Agreed that $35 won't happen in the near term. I may trade a portion of my position from time to time depending on how things look. For now holding. I can't watch closely so typically will set up stops and research after hours when I'm not working.
I am curious if you think UGAZ will revisit the $32 range. I don't expect it to go below that but would be nice.
Love the predictable dip after the open. Was able to get TVIX in low $2.70s. Already positions in NUGT and DWTI. Considering picking up more NUGT. Are you buying any gold or just playing TVIX?
I plan on holding TVIX into at least early next week depending on how things look. I'll hold DWTI until my target hits for oil at around $35. Looking for gold to break $1,400 before selling NUGT.
Also hopeful that natural gas drops back closer to $2 but not sure that it will so no position.
Volume is up but I was hoping volume would be increasing as the price moved through $0.50. We'll see if it gets the usual end of day surge. Testing support right now at around $0.45
Volume looks good. Would like to see it push through $0.50 and for volume to increase to over 1 million shares today. Might restart position... but could be a trap.
Barring any other significant news track the debt payments. If OI misses a debt payment then BK is highly likely. No matter the reason they give I have seen to many times that a missed debt payment is a clear indication of pending BK.
My guess is that it drops from here. I'll be watching volume for whether to get in at some point.