Dsc...after SLB's release tonight and the report that oil inventories are at 6 month highs, do you still see your 55 oil? I don't think you will see HK by mid 2016. Now that their $80 hedges are gone they will be forced to cut production and/or start to borrow from their line of credit since they have negative cash flow with the high hedges going off the books. Adios Amigos as I am exiting Yahoo Finance thus any message board on their system. Good luck to all of you who I have had the pleasure of bantering with over the years, including, you, PZF, Dougie, Oilman and Petruchi. No need to respond as I will not see it.
How about a little message board bet. I say 50 on 12/31/15 and you say 70 by 12/31/15. Loser has to write post of 30 words or less why they were wrong.
You are correct. It will be in that range after the reverse split and some additional price erosion after the split. If you want to own an oil commodity stock, try CRZO.
Dougie..your track record speaks for itself. You still don't seem to understand that oil coming from the Gulf of Mexico far exceeds the reduction in the U.S. E & P companies. Good luck though with your "surge".
Reporting well outputs seems like a useless ordeal. Wilson will be hard pressed just to maintain existing output so with no growth prospects and all the debt, HK will never be worth more than a buck.
I also own OXY and it is nearing its 3 month high of just north of 74. That price has been a cement wall to get thru and I expect it to retreat once oil backs off again although I believe we will see a slight higher move in oil thru all the volatility and $55 oil is possible some time next year. Eventually I would guess that oil settles in near 60-65 area over time. Sure we might get blasts north of that area but I believe that the fundamentals won't support oil prices north of 65 for long periods of time. That is why I will simply trade them but not hold them for long term appreciation. Now that I know how much damage certain OPEC countries can create has put a damper on how I will now look at the industry. Oil service companies will be hurt the most with many simply going broke along with the small E & P plays like HK. Simply to much debt with very high interest costs to survive in the long term and asset sales will bring a small fraction of proceeds based on the cost to purchase the assets (TSM, UTICA). Wilson claims to have enough cash to operate over the next year or so but most of "that cash" is in the form of "line of credit proceeds" which is simply more debt and more interest costs. Their current real cash flow cannot and will not support the operation of the company. With no growth potential there cannot be any substantial stock price potential. End of lecture.
Since HK failed the $1 litmus test, When does the stock get delisted? the reverse split must be going into affect right after that event. Sold my CRZO this morning after huge move. Will wait for next fallback before buying again. Usually don't trade in my IRA account but the oilys are now looking like short term trades.
No problem PFZ (your old username entrenched in my brain). OXY making nice run and I am back t even on that one. Have a long way to go with NOV. Might start nibbling in some large financials and some of the drug/bios might start to enter buy zone. Leave it to the Loins to lose another game based on some obscure rule although they really are a bad team.
PFZ...surprised you actually bought a penny stock in bio sector. You told me several months ago that you never dealt with low priced bois (you bought Abby at the time). You correctly challenged Dougie on his somewhat shaky purchases of HK so based on your previous posts to me, I must question the legitimacy of your AVXL shares and how you managed to recoup all your HK losses. Just wondering. I actually added some CRZO last week in my IRA as I believe the worst might be over for oil pricing. I also still believe that HK is a broken company with a short life to live. Good luck to you.
Trapper...except for a few shares, I bailed several weeks ago with the same sick feeling you had regarding ones own stupidity for not selling when it was obviously over priced north of 5. After paying several large bills including helping pay for my daughters wedding, mt trading days are over.
I am from Detroit area so I kn o their history. Last year was a fluke and most here see the lions at 7 and 9 or worse. Let's see how the Chargers do against the bengals.
PFZ...Dougie has a long history of posts where he claims to have bought the bottom and sold the top. He seems to forget that his old posts are still accessible. I play around with him based on his, sometimes, stretches of the truth. Just saying that your post has some validity. Looks like another retracement for the oilys today. Seems that HK is getting closer to delistment and I believe that any "reverse split" action will be the last straw before asset sales, if they even have any worth selling at todays price. Very unhappy about my losses with HK but at least I retained some cash which is now and forever b under my mattress.
Looks like HK has become a trading stock for most on this board with a dime/share expectation
Dougie..."getting lucky" is not a very good strategy for trading. Sub .80 should be where you might buy if you believe it can see 1.10 again, which I doubt you will see especially after it is delisted. When I say good luck on a message board, I am stating a sarcastic position in lieu of saying, "are you nuts",
Dougie...why bother at .92 when you most likely will see new lows this week? Good luck though. I assume you are buying in 10000 size lots if you are looking for a dime/share? Seems like a lot of risk for $1000.