again for this pop and drop, sold close to the top once again and not thinking of buying back. nearly 11 dollar gain on average 3800 shares traded in and our for last month on top of 7 dollar gain from 40 and change,. made my first qtr. thinking about buying some of those hi yields nobody wants no reason to watch this moronic market . just holding a couple thousand shares of kmi and fun.
i dont believe the 2 million per day over supply but you may be right, i guess when we here that oil tankers are being turned away from ports well know for sure. i do believe that lower oil prices will eventually produce more consumption. im even leaving the lights on in empty rooms to help use up supply. lol. right now i think all the big money is on the right side of sell off, just like the us dollar. until that changes it will be a daily house on fire in oil. i dont know what a barrel of oil is worth but it is what it is right know. only thing ive done right in last month is load up on fun, with oil down i think its worth lots more with people looking for yeild. buy the way i have a brother in law that owns a small chemical co. in midland, 5 to 7 mil a year told me last weekend that business was down a third last three weeks.
speculation to 147 i feel that the speculators on the short side have pulled down oil for the last 20 dollars. that being said i dont believe the fundamentals are even in play at this moment. living here in the permian, the electricity has been down for the last 5 days and wells are not pumping, rigs are being stacked faster then they are stating and people are being layed off. if this is happening in other locations as fast this could change a hell of a lot sooner than all the talking heads are predicting. still hurts though.
now let me ask a dumb question if they dont plan to sell their hedges for profit why the hell would they buy them even 2 billion taxed would go along way of paying debt. hedges are a insurance policy if the price goes lower, i think we are there with oil. because you make these nice lavish posts does not make you a investment guru. ill bet you didnt think the stock would go up with a divy cut.
and now the worst news is out. so the good news when oil decides to go back up so does the divy nice reset shorties got ther flesh and maybe go somewhere else