whatever, there seems to be a trade. Tight stop.
Volume dried up....no more selling, at least for the time being.
PS : ANF in the same situation as ARO
for sale at 54 million.
I most probably am stupid...but if this is not a buy.....
disclosute : bot at 0,68
I guess many are taken by surprise.
I think i will hold, the story of the stock is still positive.
thks for ur straight answer.
Overall market sentiment looks very bad right now
i bot back BAS @ 4 two days ago. I think I will sell today for a nice gain. Not sure how the interest rate decision will affect oil prices.
interesting form forbes :
"Most energy stocks are trading at historical lows, and many have been priced like stocks in the pipeline for bankruptcy. Even valuations on the major oil companies are trading at a 35-year low relative to the broader market. And it all has to do with the weakness in the price of oil.
But that may be changing, and very soon.
The self-made billionaire energy trader, Boone Pickens, has recently called for $70 by year-end. If he misses, he says it will be because oil is “over $70, not under $70.” He’s not the only oil bull. Another famous and very wealthy energy trader has called a bottom in oil too, and is looking for much higher prices. His name is Andy Hall.
Hall was a Citigroup C +0.00% oil trader who made billions of dollars for the bank energy trading arm, Phibro, in the early-to-mid-2000’s. He was one of the first energy traders to load up on oil futures in 2002, when oil was sub-$30, on the thesis that a boom in demand was coming from China.
Hall reportedly made $800 million in profits for Citigroup in 2005 from his original bullish energy bet. He then made over $1 billion in 2008 for the bank, as oil prices soared to $147 a barrel and then abruptly crashed. Hall profited handsomely from both sides of the trade and earned over $100 million for himself that year.
Hall now runs a $3 billion energy hedge fund, Astenbeck Capital Management. He’s made fortunes pegging bottoms in tops in oil over the past 15 years, and he’s expecting a big bounce back in oil. In a recent letter to investors, he laid out an extensive fundamental case for higher oil prices and suggested a cut from OPEC could be coming as well. On that front, he noted that merely a hint of an OPEC policy change in August of 1986 spiked oil prices by 50% in just 24-hours.
So we have two of the greatest and wealthiest oil traders in the world that are long oil and have called for a return to much higher prices sooner rather than later.
If they are right about the future direction of oil, there will be a lot of money to be made in energy stocks on this bounce. Warren Buffett has famously said a simple rule dictates his investing: “Be fearful when others are greedy, and be greedy when others are fearful.”
Yeah that's easy to figure out ( though it's a paper loss so far). what makes me wonder is his investment thesis ( bull case). I do not think it's a trading position.
I do not know if the worst is behind us, but Goldman calling the bottom at 20 sounds like the 200 they calle a couple of years ago.
I noticed, checking sec filings, that a wealthy cinese named Tong Jinquan has been accumulating SDRL building a 7,2 % stake in the company.
So I wonder if it could be worth checking SDRL again. I made a fast and very profitable trade with SDRL this summer.
Disclsure : I bot couple of thousands shares @ 6,80 today.....on news they cancelled a ship order.
the guy bought a sizeable amount of shares in july and now owns 7,2 % of sdrl or 35,437 million shares. The guy is quite wealthy so 240 million investmen might be peanuts for him. Still the guy must have put some brain on the investment.
Any guess on what the guy is doing?
PS check SEC filings
or a comeback?
I have been burned by TC....so I am not sure if I should buy back at this level. But Glencore's move in curtaining global copper production could be a game changer.