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Freeport-McMoRan Inc. Message Board

hardwoodjoe 32 posts  |  Last Activity: Feb 10, 2016 10:53 PM Member since: Oct 31, 2005
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  • Reply to

    Just got my first shares of BAS

    by canvas888 Jan 15, 2016 1:15 PM
    hardwoodjoe hardwoodjoe Feb 10, 2016 10:53 PM Flag

    I would be extremely careful on LINE and CHK....make sure you keep some kind of stops on it in case it drops ....if by chance oil ever goes up again some of these will fly....NG is in better shape than oil imho....

  • Reply to

    Just got my first shares of BAS

    by canvas888 Jan 15, 2016 1:15 PM
    hardwoodjoe hardwoodjoe Feb 7, 2016 9:32 PM Flag

    Funny you should mention line...I bought that stock last year for 12.00 and sold for 11.38... Glad I did ....its been a disaster.... But aleast I didn't get caught with it...I currently hold bas,lpi,epd and kmi.... I'm hoping oil breaks 35 this week...if it does I should be able to make some dough on some of these....I'm trading SN but keeping tight stops....good luck....

  • hardwoodjoe hardwoodjoe Feb 7, 2016 11:43 AM Flag

    I bought it at 12.00 and dumped I at 11.38....it didn't seem like the right stock at the time....glad I did....I also saw GDP SD and HK get wiped out....who is next....these are going to be interesting times....when the aftermath is over I can bet John Q Public will have a different view about investing in companies that are in the small cap world...

  • Reply to

    Just got my first shares of BAS

    by canvas888 Jan 15, 2016 1:15 PM
    hardwoodjoe hardwoodjoe Feb 3, 2016 10:53 PM Flag

    So while you were sleeping SN has almost gained 100%....SD doesn't even trade anymore...all oil stocks are trading instruments...don't buy for the long haul if you are into gambling....but from the time you posted this and 5 days later SN has roared nearly 100%....

  • Reply to

    This stock suxxx

    by g_is_a_failing_star Jan 21, 2016 7:29 PM
    hardwoodjoe hardwoodjoe Jan 21, 2016 10:56 PM Flag

    This stock suxxed a long time ago....
    It's beyond suxxing.....

  • Reply to

    Just got my first shares of BAS

    by canvas888 Jan 15, 2016 1:15 PM
    hardwoodjoe hardwoodjoe Jan 21, 2016 7:40 PM Flag

    It was a good day....hope it holds....if it does we'll see a pop....what some people fail to understand is that Iran sold oil prior to 2011.... When the US imposed sanctions nobody really enforced it....so they were selling oil anyway ,just not on the open market.... Matter of fact if you dig up articles they were selling for more than the price right now....its not new that all of the sudden Iran started selling....it's the media that exaggerated the selling....people are sheep and if you tell one to sell then all of them sell....trampling everyone to the exit....ive got a friend that way.....he buys high then sells low....he watches fox news ,listens to jim cramer like he's a Messiah..... If you drown out the noise and stick to your plan you will make unreal returns....pick good companies there's actually many out there right now....youve actually got into this at a good price point....I probably wouldn't have got in 90% .....Im actually 50% in and plan to add more in increments...if it happens it happens ....if it doesn't then I'm fine anyway....I stay away from CNBC and other fools that think they know....nobody knows the future.... All you can do is hope for the best.... Good luck with your investments ....

  • Reply to

    Just got my first shares of BAS

    by canvas888 Jan 15, 2016 1:15 PM
    hardwoodjoe hardwoodjoe Jan 20, 2016 8:35 PM Flag

    Thanks for the compliment.....I trade oil stocks that I know or have done work for....I live in the Permian....my brother in law works for BAS so does my nephew....no insider info though wish I knew more...the only thing I know is that BAS has been through booms and busts....EST 1991...you timed it just about right though....this bear cycle could put oil in the teens , no one really knows....I remember working as a floor hand back in 86...crude was 9$ in those days....drilling rigs were still active back then....took 2 months to TD at a depth of 10k feet....nowadays a rig can TD 12 feet in a week...thanks to PDC drill bits and top drives....tripping is almost non-existent ....you've got good entry in this stock as well as others....I currently own EPD,KMI,SN,LPI and BAS....
    I am in it for the duration so ive got to ignore the noise.....when everyone and their grandma become bearish that's about the time to jump in....Ive got plenty of time to add to my positons not going all in but 50 shares here and there.... I own a lumber yard in Odessa TX but used to rent out gas separators....got out in 2013 year before the crash....stupid luck I guess....I had lost a contract with J.Cleo Thompson and I was bummed so I decided to stick with the lumber yard....glad I did because the oil bears have come out in full force...My oil contracts included OXY,CWEI,SD,SN,J Cleo THOMPSON,LPI,Endeavor,CXO,PE,Discovery,LINE,Athlon,Element....I'm sure there are a few others but noit much more....SD has the worst balance sheet of them all...I used to warn investors on that board but it fell to deaf ears....I don't see them surviving at all ....their assets have been selling at auction recently....SN scares me because the management is vague on ER ....the only positive is the logistics of the company they can pump to Corpus Christi and export NG.... wells are going down fast and drilling will have to ramp up to meet demand.....NG wells exhaust pretty fast within two years....good luck....

  • Reply to

    The headline news is out !!

    by on_the_road_78 Jan 19, 2016 4:47 PM
    hardwoodjoe hardwoodjoe Jan 20, 2016 10:59 AM Flag

    This has gotten really old.....

  • Reply to

    The headline news is out !!

    by on_the_road_78 Jan 19, 2016 4:47 PM
    hardwoodjoe hardwoodjoe Jan 20, 2016 8:43 AM Flag

    its not only the oil industry ....its dragging wall street down with it....I think its had a negative impact on world economies,,,,,,

  • Reply to

    Just got my first shares of BAS

    by canvas888 Jan 15, 2016 1:15 PM
    hardwoodjoe hardwoodjoe Jan 19, 2016 9:00 PM Flag

    Are you a buyer of this company also....I also own 1100 shares but at 6.00 ....this company was founded in 1991.... It's been through hard times before.... It'll weather it out...

  • Reply to

    NG Price Update

    by cleint9 Jan 16, 2016 10:24 AM
    hardwoodjoe hardwoodjoe Jan 18, 2016 9:21 AM Flag

    Monday morning WTI price is up.32 cents....Iranian crude is priced into this selloff.....still holding SN hoping for the best...GL everyone...

  • Reply to

    NG Price Update

    by cleint9 Jan 16, 2016 10:24 AM
    hardwoodjoe hardwoodjoe Jan 16, 2016 12:15 PM Flag

    Its no doubt SN and the industry is in a world of hurt.....what I don't understand is how some big banks keep putting recommendations on stocks they have no clue of where oil will stabilize ......ive been here before....only the strong balance sheets will survive ....
    The bottom nobody knows.....I'm calling 19.00, I hope it doesn't get there....Why 19.00 is just a guess....no fundamental behind it but its also not far from there....its a threshold wall street wants to see.....IMO but what the #$%$ do I know

  • As Oil Prices Plunge, Layoffs And Foreclosures Are Slamming US Boomtowns

    By Cole Stangler @colestangler On 01/15/16 AT 5:21 PM

  • Reply to

    OIL PRICE

    by cleint9 Jan 15, 2016 7:31 AM
    hardwoodjoe hardwoodjoe Jan 15, 2016 9:45 PM Flag

    Hey telli.....thinking about spending super bowl in Costa Rica....flights from my hometown to SJO are 366.00 round trip....you and wild have to come drink some beers with me.....ill buy the first round....SN stock price gets back to $7.00 I'm also buying beers in Puerto Rico at Davilas bar and grill....Wharf has been awol lately...lets hope he's alright....

  • Reply to

    Trades are just trades

    by canvas888 Jan 15, 2016 1:12 PM
    hardwoodjoe hardwoodjoe Jan 15, 2016 9:35 PM Flag

    Well welcome to the losers club....great bunch of bloggers here some great info some not so great take it with a grain of salt.....you've got balls of steel going all in being this environment....but hey at least you didn't buy in at 7.00$...but if this company hangs in there and there is a drastic change youre either going to look like a stock market genius or and idiot....i wish you the best.....if anything do research of who you buying this used to be a profitable company with a great future but got a triple whammy from SA, china and Iran....John Kerry put the nail on the coffin when he endorsed a terrorist country ....so now Iran is going to flood an already glut market....this glut could last a decade...maybe you should look at Jan 2040 futures....they were trading at 36.28 last week....they were trading in contango weeks ago...now that it has gone up at least we'll know that oil will be higher than it is now....there was a nice rebound this morning as I saw it was a real bloodbath at the open.... I live right in the middle of the Permian Basin....the Wolfcamp shale in the sprayberry is still profitable even with these oil prices so you may want to look at PE,CXO,DVN,LPI.........EPD and LPI being my favorites in my portfolio....good luck in your trades .... you are one of the lucky ones to have bought this low....

  • Reply to

    What the fack..SN new 52wks low

    by dsl_rule_the_world Jan 8, 2016 11:23 AM
    hardwoodjoe hardwoodjoe Jan 14, 2016 10:41 AM Flag

    Yes sirrr .....its getting ugly here.....just like the 86 crash....on the bright side homes are going to be for sale cheap.....in 2014 there was 17 homes up for sale between the two cities.....last count Zillow put out was 500 just in Odessa haven't seen the Midland numbers yet....and that was 8 months ....my neighbor came by right before they repo-ed his truck....its a 2012 F-150 crew cab texas edition...still owes 23000.00 though...hes not the only one though...other neighbor same thing....Tellicherry where you from? sounds like you know SD really well.....Halliburton and Baker as well as SLB have laid off 5k each....problem is the rift raft aren't leaving their stuck so were the highest crime cities per capita....

  • Reply to

    What the fack..SN new 52wks low

    by dsl_rule_the_world Jan 8, 2016 11:23 AM
    hardwoodjoe hardwoodjoe Jan 14, 2016 12:55 AM Flag

    Ive been to Costa Rica 16 times in five years....its a great place but its gotten real expensive....never been to Honduras...with the crime wave that way its been lately I don't plan on going anytime soon....hope your sister is doing well....hope she isn't invested in the market....the stock market is the biggest scam known to man....where the small investor gets decimated....big boys drive it up ...rate strong buys on oversold markets then start dumping....leaving the small investor with toilet paper....worthless certificates once could be used for wallpaper but that's not the in thing anymore....
    Its amazing to see this stock tanking everyday....has lost 50% in five sessions....ive never seen anything like this....would've been an easy short...I shorted this and made good coin but have since lost 90% of it when I covered and went long....this has been a real disaster ....I haven't seen any poster on here from six months ago....they must have sold or really sick and disgusted ....did have one bright spot in LPI today....it was actually green....Don't know whats going on with SN but it does not look good....I had a wipe another stock ticker off my watchlist GDP got delisted....Anybody want a nice truck, car or property ,check out the local banks here in west texas,they are getting flooded with repos and foreclosures....the wrath hasn't even started yet.....two yrs ago this boom was supposed to last twenty years...haha the area is getting decimated .....theres going to be a wave of bankruptcies and bank defaults you can not even imagine....
    Getting back to SN.....if this stock can hang on by a thread for six more months it may survive.... 20 dollar oil coming soon.....

  • Reply to

    What the fack..SN new 52wks low

    by dsl_rule_the_world Jan 8, 2016 11:23 AM
    hardwoodjoe hardwoodjoe Jan 12, 2016 5:54 PM Flag

    Hey Wildman...I live in Midland /Odessa but also spent some time in Carrizo and Poteet....real familiar with Sanchez...I don't doubt the company will survive its the stock that has probability to languish like any other stock that went under a dollar....the company could do a reverse split if they drag under a dollar for an extended period of time...NYSE rules is they must keep it over 1 dollar for it to trade on the big board....I invested in GM when it was 10$ and ended losing it all because they re-organized and screwed the shareholder....once they re-emerge your shares are worth about the same as toilet paper....Rat likes the CFO of this company I would like to know why? Not trying to pick a fight but why is he better than anyone else than the average joe blow...When you compare guys from CXO PXD and PE etc....If I was a huge investor I would certainly make some calls and wonder where the money is going...
    I manage my lumber yard and even though the environment has changed I'm still afloat....positive numbers with 100,000 budget....what the future holds is going to be interesting for this stock....I'm long 1500 shares and just about ready to cash them out and write them off ....why not take a trip to Costa Rica and drink what is left of this crummy investment....

  • Reply to

    What the fack..SN new 52wks low

    by dsl_rule_the_world Jan 8, 2016 11:23 AM
    hardwoodjoe hardwoodjoe Jan 12, 2016 2:43 AM Flag

    That is some serious bucks.....its going to happen again....thing is getting investors to take a chance doing this.....I was at an auction last week and they had 4 Wilson pulling units ...starting bids were 40,000.00....they didn't sell , will be up for auction on the next sell....real clean machines still work good but no buyers...I did notice pallets of drill bits...rotary cones...real cheap Varel bits ...not crazy about those....no resale value....the money is in PDCs....problem is those are still fetching top dollar....PDCs can td a well 12,000 ft if the driller is experienced ....that's the dif between cones and PDCs...no tripping out....the fallout in the patch will be severe...Odessa is already feeling it....I own a lumber yard here and sales are tapering off...went from 5000.00 a day to sometimes 2500.00 a day...im not keeping huge inventory....don't want to be caught with my pants down....in early 2004 I started a gas separation business but with this downturn I ended scrapping all the separators...all the rigs I had them on were stacked....I ve had enough of the patch its unpredictable....how did you end up on this board??? many people have never heard of Sanchez...

  • Reply to

    OIL PRICE UPDATE

    by cleint9 Jan 8, 2016 7:15 AM
    hardwoodjoe hardwoodjoe Jan 11, 2016 10:30 PM Flag

    client did you check out fcx....wow that stock got blasted....20+% to the downside....it was on my watchlist...what used to be a stellar stock is now junk status.....330 million in cash with 20 billion in debt guess where its headed....

FCX
5.53+0.64(+13.09%)Feb 12 4:02 PMEST