WTI closes up $1.20 on no action from the FED. Stupid shorts, got a whoop'n today! They still dont understand that all the weak hands were driven out long ago. There are no more longs left to take shares from and they are only shuffeling money between themselves.
How stupid can you be taking a gamble of that nature. You could get better odds in Vegas.
Just as far as is necessary to put the evil doers in their places. We have the power and the capability to do what ever it takes. The problem is that Obama talks the talk but he cant walk the walk. No enemy will respect any leader who fails to back up his rhetoric with action. Lets face it. Obama was elected because he is an eloquent speaker. But that is all he is. As a leader with substance his grade is F. He will go down in history as the most ineffectual president in history, even worse than Carter. Obama's power base is entitlement recipients, government workers and unions, all looking for handouts. You may not like it but that is the factual reality of the situation. Putin is winning at this game of poker, and the terrorists are not afraid of Obama because he is a spineless wimp.
All we need to do is kick the #$%$ out of a few of these rotten eggs and the rest will fall in line out of fear of getting the same treatment. And the side effect will be and economy that is booming, and a country we can be proud of once again. Right now the world image of the United States is a country that once was great, but has fallen into the clutches of pacifists that will not protect their allies, let alone themselves.
This country will either falter and crumble under the failed leadership of the left, or it will survive and prosper once again under powerful leadership of men who have served in the military and know first hand what the cost of freedom is.
Thank you Bruce and Kirk! I wish we could get more of these kinds of sensible posts on this board. This board has broken down to nothing more than a bunch of short term trades attempting to pry shares from weak hands.
There are so many forces at work in the energy arena that it is hard to predict what will happen in the near term of perhaps as far out as 2 years. I personally don't see the price of oil at these levels 2 years from now, but that's just my gut feeling. The oil business used to be rather straight forward supply and demand. Now things are a lot more complex.
The world has changed a lot since the 90's. Terrorism is on the rise. Nut jobs in the middle east want the bomb and the abysmal foreign policy of Obama is sure to let them have it. Iran already has ICBM's The nut jobs in North Korea already have the bomb but are working on the delivery system. I think it is possible Iran trades ICBM's for Nukes with North Korea. Pakistan is very unstable and they already have the bomb and ICBMs. And on top of all this, the Soviets are ruled by an power hungry neanderthal who knows we have a limp wrist-ed president who would rather give away our freedom than fight. I have seen a lot of changes in the world in my life. My father fought in WWII and I was a little boy of 4 during the Korean war. I was too little to understand the Korean war at the time, but I remember mom and dad discussing the fact that they were worried dad might be called back to active duty. I served in the National Guard during the Viet Nam war and had many buddies who were on active duty in the Army and Navy. But compared to this BS Muslim terrorist holy war, where the enemy is a bunch of radical nut job, disgruntled minority #$%$ that don't wear a military uniform and that get their rocks off by murdering innocent civilians, a conventional war like in days of old, was a piece of cake compared to this. We need a tough hawk for our next president to fix this mess.
OPIE, you are always the pessimist aren't you! Production will fall eventually, just give it some time. Why are you so impatient? The smart money is currently pouring BILLIONS into oil funds making a bet that eventually oil will recover. You seem to have a very myopic view of the oil industry; that it's a bad investment. If you hate Linn and oil in general so much, why the heck do you hang around this board making dozens of posts every day? Is your life so pathetic that you don't have anything constructive to do, and nothing positive to contribute to society?
AS for me, I am ALL IN ON OIL! It may take some time for it to recover, but when it does, all the longs will be rewarded handsomely. The current action of WTI and Brent, is showing that we have put in a bottom. The big cats are making their move now and creating new positions in the oil patch. At some point we could see a very violent pop, and even if we do not get the violent pop, oil is going to recover when supply and demand come back into balance. And supply and demand always comes into balance eventually.
There is no way I could ever be on the short side of any trade. It goes against my very nature to be hoping for disaster, failure and hardship to befall companies. Instead I am here to promote success in my investments over the long term. "You can attract more bees with honey than with vinegar"
So Opie, keep spewing your vitriol, it won't do you any good. The weak hands are long gone from the oil patch, as proven by the ineffective attempt the shorts made in the last few days to drive the price down. NOBODY is selling except for the opportunistic shorts. They are just trading dollars between themselves.
The educated voters of this country elected an overwhelming majority of conservatives tot he house and senate to reign in the excessive abuses of the left. And especially to send a message to the dictator in the White House that they don't like the way he is abusing his constitutional authority. Congress was elected to do the will of the people. the people have spoken and want congress to put a boot on Obama's neck and prevent his over-reach.
If congress does what the people elected it to do (namely stop Obama in his tracks by what ever means necessary) the left will lose the White House in 16 and we will reverse all the over-regulation he has done during his tenure as president.
The most recent move by the FCC is Net Neutrality. Just watch how the government is going to "F" up the internet and cause you to pay more for a highly regulated system that will be used as a political tool to further the cause of socialism.
The left suffers from a severe case of cranial rectal impaction. Their collective heads are buried so far up their #$%$ they will never see the light of day.
I live in one of the more "BLUE" states (Wisconsin). But even here, after all the cooked political tricks, and huge amounts of cash the national unions poured into our state to defeat Scott Walker, the smart people of our good state turned against the left and decided elect and re-elect him. The people in our state decided that they had enough of the destruction that leftist policies were doing to our state and this trend is continuing all across the country. The left has overstepped it's boundries and in 2016 they will pay the price by losing the White House.
Boxer is full of leftist support for the illegal actions of Obama. The courts have determined already that his over reach of authority WRT the amnisty for Illegal's was beyond his authority. Boxer is grand standing but the people of this country are smart enough to see through her smoke screen to the real truth. Obama is playing dictator with his pen and telephone, and congress is only trying to bring the balance of power back to the people who are against Obama's actions.
In the end the SCOTUS will rule against Obama's actions and the US Congress will be vindicated. And then the left wing ding bat will be shown to be nothing more than a shill for Obama's illegal actions.
And the net result will be that all this devicive BS that the Dems are throwing around in an attempt to try and make conservatives look bad will hurt all the Democrats whose actions have already been rejected as demonstrated by the beating the Dems they took in last November's elections. The people have already spoken, they do not like what the liberals are doing to this country and they want it stopped. The Repbulicans are carrying out the wishes of the electorate. Ifg we hold our ground and fight the actions of the dictator in the White House, we will be rewarded with a land slide victory for standing up against Obama come 2016.
The good, HONEST, hard working people of this country are still a majority. We don't like having our country turned into a left wing socialist state where our tax dollars are spent giving a free ride to illegal aliens and fat lazy ignorant welfare recipients. Our tax dollars should be used to NUKE ISIS.
Last year when remodeling my home I researched all of the suppliers of hard wood flooring. The low priced flooring that I saw at LL that was of inferior quality and the decent quality material was priced a full 50% higher than comparable material at other big box home remodeling centers. I ended up with solid hard wood 3/4" x 2 1/4" solid Prefinished Oak, made in the USA by Shaw from Menards at only $2.19/sqft. The closest LL could come was $3.29/sqft for comparable material. The reason profits are sliding for LL is that people are now starting to catch on that if you shop around you can get a much better value for you dollar at other suppliers.
Obama has distinguished himself as the unequivocal WORST President in the history of our country. Rather sad because he is the first black president. What a disgrace to his ethnicity.
I guess your comprehension is deficient. Do you not understand the words " Amended and Restated" ? That means that there was a previous Form 424 that was being updated to reflect a new amount of proposed reserve units. This just sets a slightly higher amount of reserve units than was previously authorized. Now I'm sure you have a nefarious agenda.
You are so full of baloney. If you read the top line item #1 of the Form 424, fully $411,483,236 of the $500MM is an amount of "Unsold securities" that were previously registered. They are only increasing the available pool of securities that they could possibly sell by $88MM. $411MM of the total were already in the pool of units that were sitting unsold as of the time of the filing of the Form 424. IN essence, Linn is increasing the available pool of units available from $411MM to $500MM. They are NOT adding $500MM of new units to the potentially salable pool. You are either ignorant of the facts or have purposely distorted the truth for your own nefarious purposes.
We have already seen the bottom in oil. The buyers are now looking forward 6 to 12 months when the effects of the capex cuts and rig count decrease starts to take an effect on production. The buyers are not stupid. They held off until they knew that producers were going to cut back. It is obvious now that producers will be cutting back and so now is the time to go long on oil and sit back and enjoy the ride back up.
You are so full of yourself. You can't even grasp the concept that if oil is $100 all of us invested in oil can laugh all the way to the bank, and also at the average Joe pumping $4/gallon gasoline, because we are making money from his purchase. I would much rather be making big profits on oil investments than saving a lousy $30/tank when I fill my Corvette with $4.50 premium gasoline. It appears that you are short, so I will be laughing at you when gasoline hits $4 again as you are obviously one of the dummies that are not invested in oil. And if you are invested in oil you are cutting off your nose to spite your face by espousing the virtues of low oil prices. Either you save pennies on a tank of gasoline for your car or you make boatloads of cash investing in the oil sector. You can't have it both ways. The impact that cheap oil has on my cost of living pales in comparison to the money I rake in by being invested in the oil sector when oil is priced at $100.
And just in case you think you can make a case for profiting on the short side, let me remind you that oil is a finite resource. At some point your short term ability to make money on the short side of the oil trade will cease to exist while those of us who are long will continue to prosper. There is an old bit of wisdom that says you can only make as much money as it takes to short an issue down to ZERO, but for those of us who are long, THE SKY IS THE LIMIT!
I doubt we will see a distribution increase for a long time to come even if oil hits $70. Linn's heavy debt load has made the investment community shy to invest. I would guess after oil recovers, Linn will pour a large part of the earnings into debt payment to improve the balance sheet and make the company more attractive to invest in.
Linn's huge debt is, in large part, responsible for the success of the short sellers. They used the huge debt issue to support their fear mongering and drive the unit price down way below where it should have gone if the company was financially healthy. If management is smart, they will retire debt with earnings until they have an attractive balance sheet, so that in future times of depressed oil prices, they will be able to support a better and more stable unit price reflected by a substantially better balance sheet. Financially weak companies like Linn place a bull's eye on themselves for the short side to aim at.
I am long on Linn and hugely underwater. I am in for the long haul for the income, but I am also a realist and Linn needs to clean up the balance sheet and make this a far less risky investment. So I am not expecting a distribution increase until the company is sitting on a more solid financial footing.
The current $1.25 distribution reflects a unit price of $15.625 at a return of 8%. Until management increases the distribution, I doubt seriously that we will see anything higher than the mid 15's. At 8% buyers will start to shy away from Linn due to the risk involved. High risk requires a high return premium and I am sorry to say, when we get to an 8% return we will hit a brick wall on the unit price. I am not optimistic that the distribution will be increased for a long time to come, unless we see oil at over $80. And even then Linn will drag their feet about increasing the distribution. I just don't see it happening until about 2 years from now providing oil gets back to the former lofty levels we were enjoying.
I am long and underwater big time. But I am also a realist, There will be lots of resistance to unit price appreciation until the distribution is increased accordingly.
Hell NO! The management should be suffering just the way we are, but if they are LTBH like me, then I guess they most likely are. But bonus' should be off the table till they clean up the mess they have created with the huge debt they are saddled with and until the distribution is back at previous levels.
All the same day, all the same price. My guess is they were all awarded units as a bonus, and these sells were acquire to pay the income tax.