Oil down all day yet energy stocks are all higher with markets close to flat. The dollar may have a small role here but the trading of these stocks is very strange. CLR is at the daily high now possibly the market are figuring there will be no Brexit but that is still a toss up for now and either way it should not affect the supply and demand for oil. Today has me scratching my head.
This PayRock company produces 9,000 barrels a day and MRO is up over 11%. This looks like a short squeeze along with oil up today. This move appears to be overdone on that much production the real question here is did they over pay ($888 million) for this level of production?
Agreed.....this Brexit is the latest and God help all markets if they vote to leave. The funny thing is that the polls are about even but the markets are using the "remain" premise as a given.
The fairly high beta has something to do with it I guess. Hamm made promises recently about cash flow positive later this year. I wonder what happens to the shares if they are or if they are not.
There's a poster like you on Alcoa's board who types similar to you do.
Gains like this usually do not hold there is usually a bit of profit taking later in the day but this move is huge so far and it may be a wake up call that this current news may be a possible game changer for LL. I posted months ago is that all they had to do was let the public know through advertising that they do not sell Chinese flooring anymore. The market may be anticipating that their business may start to pick up but it will take some time to gain the public's full trust again but once they do and they start to actually show earnings this stock will be in the $20's at least.
I posted a few months ago that they need to tell people in their advertising that they will not sell the flooring from China any more....period! Once the public and most important contractors know this is for sure business will slowly improve. I doubt most of this early move holds but any upside will make Tilson a bit more uncomfortable if he is still short.
Let's see if they try to run it into the close there is a small float and about a 15% short interest that alone could move it near $40 again. Even after this move lower many of the new targets are still a lot higher than $39-$40.
Yup first time I traded CAVM I figured it would be volatile. It's probably overdone but you need a shakeout like this to build a bottom. Two things about the deal supposedly they are buying slow growth but they did not pay a big premium for QLGC.
Buy well under $40 each time and sell over $40 it's been like clockwork so far. This board if full of spam I've never seen anything like it. The drop has them showing up with better ideas I guess.
What's more amazing about this call is that you have both oils down about $6 off their highs and seemingly in a down trend and you downgrade to a sell now. This call should have been made when AAL was in the mid $30's when oil was at $52. I bet BOA is buying today. That's how WS works.
Once again she will push oil prices higher despite the pull back today. The Fed is their own worst enemy when it comes to consumer spending. I guess the hotter PPI numbers today were "transitory" once again. She will never raise rates she has no clue how to get out of their situation and will always find a reason not to hike as long as she is in charge.
Your numbers may be right but the stock has been nearly cut in half from a too high valuation in the mid $30's but this is how bottoms start when a firm flips from a sell and like I said if other analysts make similar calls that's how bottoms are created. If the Fed actually has the b-lls to raise (I doubt they do) soon they will strengthen the dollar pushing on oil which could help all of retail. If you notice as oil has rocketed higher in 4-5 months almost all of retail has dropped big time and add in the Amazon affect also but with oil lower it frees up dollars for the consumer.
If oil has topped for now and DB's upgrade from hold to sell that is sometimes what begins the process of a bottom. A few more upgrades and better earnings would also help.
I've been saying the cure for high prices is high prices. There was also a story that China may have finished filling their reserves at these cheaper prices smart move. So many energy stocks ran higher into the close I guess in anticipation of a nice draw. Of course we need to see tomorrow's numbers....I bet Canada and other disruptions may be slowing or ending along with producers moving to up production while prices are higher. Harold Hamm said he was about to the other day I bet others may be doing the same.
I follow a lot of stocks in many sectors and CLR may be the most manipulated stock I have seen in a long time between the constant analysts moves almost every day no matter what trend oils are in. Like I posted earlier on down days for markets and oil this is usually the only energy stock that is up because of so many target bumps. Hamm is so optimistic about the direction of oil and has been wrong for over a year now he had better be right about his recent comments about positive cash flow soon and his company had better reverse their losses or this stock will get killed after his statements.