Which means they are very, very nervous and should be. Fed go-slow approach to interest-rate increases and nervousness over the Greece default/Grexit from the euro will propel gold and ABX higher. Should be back above 13 in a few weeks, maybe sooner. If we can break thru resistance in the 13.50 area, we could scoot to 15-16 pretty quickly. Good luck, longs! Base positions established in the 11.25 to 11.75 area will prove very profitable long term. Be patient The time to buy is when nobody wants the yellow stuff.
Sentiment: Strong Buy
Forward guidance of 9 cents for 1st Quarter earnings is 2 cents below consensus prior to the report. I think the stock takes a hit in the short term.
Reminds me of Bush on the aircraft carrier declaring victory in the Iraq War.
Tradmg at $44.75 as I write this, down $1.32.
Downtrend could actually start to accelerate as it forces liquidation of large long positions on the futures market. You can always count on markets to over-react.
Don't trade on hopeium or try to catch a falling knife. Just get out of the way and let the price of oil finds its own bottom without trying to guess it.
Added another 10,000 shares in my retirement account for 10.45.
Picked up 3000 shares at 10.49. Dunno why it's been getting pounded. Looks like revenue and earnings
are on a steady upswing.
There is no way to "know" that the current price actually is a "bottom" until AFTER THE FACT. You can only "know" one retrospectively, AFTER the price turns up.
You are, of course, entitled to GUESS that the price of oil "is at or near a bottom," as you already apparently have. But the smart play, the safe play, is to wait until the 30-day moving average of the price actually turns up from down. If you are too impatient to wait for that turn, my suggestion would be to use a 10-day or even 5-day moving average on which to base your conclusion that the "bottom" is in. The shorter-term moving averages tend not to be as trustworthy as the 30-day, but they at least are a better trading tool than just "guessing" that the "bottom" is in because the price has fallen "so far."
I hope your guess is right. But I suspect the Saudis want to "punish" the U.S. shale players by pushing the price even lower. We'll see.
fyi the wellhead price in the Bakken is under $40 now
trades at a significant discount to the WTI Crude which closed under $50 today
No. Buy Gold Miners for a more leveraged play on gold. In fact, buy Gold Miners which are highly leveraged=
Obviously someone is. There is a buyer for every seller. I'm still waiting for a turn in the price trend of crude, which remains down. Unfortunately, a price turn may not happen for quite awhile, and HK may get bought out for a song or go bk before that happens.
Trolls and your Masters, get ready for a nice run-up in gold. It's already begun. Time to buy dips.
and you KNOW this is a FACT because ?
how about providing a source for this "info" ?