Final word for the week....anyone who thinks oil is going any higher than current levels should probably not be in the stock market. Adious amigos
93...Dougie and I go back a few years and he has a tendency to only restate so called good trades. He last told me that he had to buy a used truck because of his losses. He is fun to poke around with but he forgets that one can easily go back in time and read all his posts. If he ever was telling the truth about his portfolio holdings, he lost a heck of a lot more money then "a bit". He seems to forget about a lot of his trades.
Dougie, you are a bad omen. Why buy Now when millions of swap shares stIll need to be sold? This is not a short position issue but one where there no buyers. Unless you are looking for a nickel gain, you have put yourself into another bad position. You should be buying the banks rather ten oils for 2015.
Your to kind PF. Now the question is...what will he do with the info? Going golfing on Sunday for first time this year. Warm up for our Traverse City, MI vacation in July. Got 2 bad shoulders (one a replacement) so game now played from senior tees (I guess 65 qualifies for a senior). One more dollar to HK and I can begin selling some shares.
PF is busy working with his broker to sell his shares at 1.60. Just kidding. However, it looks like many of the swap share holders decided to sell at any cost while others are setting their sell price. 1.27 appears to be another sell point for some holder as large lots are going at that price. Brokers seem to be building an inventory of shares so that once the 1.27 allotment is gone, they ( market makers) can drop the price and sell to other big holder want to bees who will only pay 1.10. Sounds corny but that is the "price manipulation" that occurs with the big players. The rest of us have to figure out where in the game we will participate. Happy fishing/golf.
There are still millions of shares to be sold by swap boys. Big chunks sold this morning. Oil going to correct. Buyer beware.
Not a bad day considering oil and most of the volume was on the sell side. The test will now be how it holds up with oil potentially heading back toward 55. If it can hold 1.10 over the next several days, that would bode well as for staying above $1. Would also like to see more accumulation days vs distribution. Even yesterday had a lot of large sell orders go threw.
Based on the just released oil inventory numbers, for those preaching higher demand, it is not showing up yet.
Morning PFZ...Are you thinking of selling today? Might minimize the loss after yesterdays cheap thrill. I would bet another oil correction is soon to occur dropping HK back the 1.05 - 1.10 area. where a buying opportunity might present itself for those daring enough to pull the trigger.
PF...why bother with this guy. I always found that ignoring was the best policy for getting rid of the bjoshes of the world, but I suppose some might think the same of me. Looks like a few day traders have emerged which might indicate a bottom was finally reached.
After all your hype of the stock, can I assume you are now short? Or are you really Tucker in disguise? H etoo was once a HK hipster turned into a wanna be short. See you later.
I would think that if most of the new supply was being sold off it would have a very negative impact on the stock price. For weeks now, 80%of the volume has been from distribution, not accumulation. Maybe par becomes fair value over the next several qtrs. or until capex increases do to 75 oil. NOT!