Back down to $91 on so called earnings miss, revenue miss, blah blah blah. Still pretty good all things considered, but today's market is not so forgiving unless you sell electric cars or host cloud services.
He also said how worried he was about the global state of the markets (and oh yeah, he also happens to be quite short equities!). Like you said, totally talking his book.
I'm not feeling any pain. The topic of the post was concerning short interest on MLPs. It is my opinion that commodities are not done being sold off yet. Right now though is the eye of the hurricane where things seem very calm and placid. Once the eye passes, one gets the 2nd half of the hurricane before things truly improve again. Oil is on a tear, but let's check back in 4-6 months and see where it is at. I think oil will be back towards low $30s.
Also, why S&P, Dow, Nasdaq are all back close to all time highs, the average stock is still down quite a bit from ATH. Again, just looking at MLPs (which the post is about), most all are still WAY off their highs, even after the sector has bounced higher by quite a bit. I do not think somebody holding a big slug of KMI or ETE is shouting hallelujah from the rooftops!
VLCC spot rates tanking once again in Spring season. Wonder if DHT will announce any new charters locked in?
Perhaps some are reacting to how sharply spot rates are dropping once again? Since EURN operates mostly on spot, it will be most affected.
I'd say Ocwen has everything to do with today's price movement for NRZ. Note the flash crash when trading started this morning. Likely due to the horrendous Ocwen earnings reported. Stock recovers and then more and more learn of Ocwen which leads to rest of day price pressure on NRZ plus after hours loss.
I believe this is the eye of the hurricane where things seems stable again (even improving?). I have a strong feeling though this is not the end of the pain, just the halftime.