And it continues its descent. Energy is DOA and has been for months now. And entities like XCO are the weakest in this sector hence more downside. Can't win for lose here.
You have dealt with them for 4+ years yet you're just posting here now? And have not owned any shares all this time? Doesn't sound very plausible to this guy.
It's been a blitzkrieg for sure. And now the weather people are addressing one of the strongest El Nino's not seen since 87'.
Oil's over ridge is now about 1.5M barrels per day which in itself isn't a reason to see oil fall in half but the derivatives are causing this volatility. What else is new? The commodity markets are a complete and utter sham anymore. Suppl/demand take a back seat to speculation.
You'll get nothing art I assure you. Been involved with those before. With MCK years ago. Got literally cents on the dollar. They management hedged for most of this year but they don't last forever. It's revenue from continuing operations that decide a company's fate. I don't see any hope here other than the sale of assets and a major restructuring. Something that if Wilder engages in will be for "them" not us.
That's true too. NG is now producing the juice needed for these bikes as well as our heating/cooling/home usage. Then why 2.781 MMBtu price? Too much NG very simple supply/demand concept. And how much are we burning off at the drilling sites? If all these amounts were brought to market I think NG would be blow 2. MMBtu????
True yes_icahn. But these little tidbits regarding energy will weigh in on less energy needed is what I think is being inferred here.
!5 yr low. Selling assets and reducing production/drilling. Another NG/oil play taking gas due to the Saudi's desire to rid the competition that is called the USA. Iran will join the crowd and oil will go back to about $50. XCO probably to $.75 is my best assumption.
All the 25 NG stocks I watch are now down 25% YTD on average. XCO down about 2x that. It's a sector thing for sure and the weaker links like XCO will falter even more than its siblings. And that is what's happening.
GDP which is probably on its way out and the sharks are smelling the same fate for XCO today. Hence the large volume as you referred to.
On CNBC some guy said something regarding FBI gun permit requests are I assume are rising? Therefore he recommended SWHC for it has a large short position. If gun permit requests are rising that's good for gun makers and bad for the shorts in such companies like SWHC. There, I answered my very own question.