CAT and MCD should be removed immediately from the Dow. They're dead in the water entities. MCD just fired its latest CEO (a black guy who they threw to the wolves) months ago knowing all damn well this company and its dog food menu is DOA. As for CAT and its arrogant, self centered CEO? He should have been thrown out years ago. He's a totalitarian ruler pure and simple with no regards for the REAL workers. Get this guy out of there.
Way too much in supply will continue to wreak havoc on all energy plays for a long time I'm afraid. We can't win for lose now. XCO must find some partners to weather this OPEC induced storm. Fight fire with fire.
The U.S. Energy Information Administration (EIA) said domestic crude oil stocks rose by almost 9 million barrels last week to reach nearly 407 million, their highest since the government began keeping records in 1982.
Traders expected oil prices to come under further pressure in coming days despite the EIA report citing positives like a near 3 million barrel drop in gasoline stocks and almost 4 million barrel decline in diesel and heating oil inventories
Fast-growing U.S. shale output has pushed oil prices almost 60 percent lower since June, with losses accelerating after the Organization of the Petroleum Exporting Countries said it would not cut production in a bid to preserve its market share.
Goldman Sachs analysts said in a Tuesday note that they expected U.S. crude, also known as WTI, to remain near $40 a barrel in the first half of this year.
Too bad all of you gun hoe CAT admirers are getting your head handed to you today. Justice served. Allowing CAT's arrogant, two-bit, phony scam artist CEO to perpetrate his crimes against mankind (CAT's workers) deserves such results. What goes around comes around idiots.
XCO is a lost cause. They're hedged for a while but with falling oil priices I don't see anything positive here. UPL has had a sudden major reversal in the last couple weeks based on what I don't know for I don't follow it. One of our posters here did follow it but is now out so maybe he knows why it spiked big time??? Maybe a takeover talk incited it?? I don't sell oil doing anything but the trend is w/o a doubt lower. Which is more bad news for us. Exporting you ask? A many export projects have now been mothballed due to this carnage in oil pricing so that too is not boding well for us. My broker (who suggested this company to me because of Ross) has retired. He didn't even tell me he was quitting after 32 years. I think it's safe to say he and we have been "had" owing XCO???
And you sold your UPL too? Another person out of the ballgame. Which I'm not at all surprised in hearing. But your cheer leading over the months was all for not unfortunately for all of we longs here.
Good post atexeight. The whole industry has been ransacked in just the last week big time. I follow a many NG plays and they're really getting creamed as if all of them are headed into the abyss, BK court. That's what the fast money is betting on and throwing all of them into the same boiling pot.
You are right on most of your points but your constant chest pounding makes me wonder about your true identity/purposes.
Ranting about how XCO is toast. Just ask yourself why would anyone be here if they disliked the company? No life to speak of? They're losers? Or their paid to rant negativity?
XCO is indeed in trouble. I just wish I could short this stock. I'm fried in it as are many more. It wasn't my call but my broker. Funny isn't it they keep making excuses instead of admitting they made a mistake. My DWTI has offset much of my loss in XCO. How do you think Ross and Company feel?
Down 20% last year. That's over 80% loss on your monies in 2 years. All the while the DJIA is up about 38%. My only question is when is this company going to sell out to the lowest bidder and get it over with?
The Saudi regime is laughing their #$%$ off even though their days are also numbered.
And what are the percentages you're referring to? How much are they hedged? And you're telling us the immense profits from much lower fuel prices will be diminished immensely by the loss on their fuel hedges? You are kidding us are you not?
#$%$ coming put of the woodwork. Another scam hedge company littering things up here. I'd pay top meet you face-to-face.
This is what they do...shoot first then think about it. NG getting killed today Natural Gas USD/MMBtu 3.18 -0.29 -8.23% because of warm weather for this week predicted. That and a supply abundance.