Remember the stock market thinks months in advance. By time people jump back in they will have missed the lows.
If rig cant go up on a good day like friday how much will it go down monday in a bad market?
Its sad but true. Dont think they will sell it off anymore but it sure as hell aint moving up
Your post are spot on. However idiots like mark, and gasman are right on the money about the stock price going down.
I think your post is spot on. Here is the problem. Friday all the big investors had a day to think it over and get back in. Friday market was up nicely, oil was up and rig continue to go down 3.5 percent. It's my opinion that nothing will lift rig or the sector anytime soon
Thanks for the post. I agree with what you just said. I do think next week we move back up. The first time it doesnt sell of on Thursday and Friday we will be ready to take off to 18 or so. As for the post about 2007 when rig was 170 that was the same time drys was 120. Now look at it. The truth is im just jaded like everyone else about the market . If i ever got to the break even point with all my losses i would gladly get out off this mess and move on.
I love reading posts. Your posts are long thought out and usually very articulate. I agree 100%. I think next week however there will be continued selling because anytime a scandal is involved people ask questions later and just get out. Even if rigs representatives are innocent which I think they are it makes no difference people will still sell because the sector is in bad shape. No analyst will say anything good about the sector cause its years before the supply is better
Did you not notice the market friday? Market up over 100 points, oil up 2 percent and do and rig were down big. It makes no difference if oil goes upthis whole sector is out of favor. All pops will be sold. Rig will soar again one day but we are years out from that.
Keep in mind oil hasn't gone down this week and rig got killed. My god if oil did drop some rig would be 10 by now
Shrug it off? Rig finished almost at the low of the day. Down almost 4 percent. Market up nicely oil up nicely, rig count down and rig still down big why can't you see its over? Rig isn't a teenager anymore, now it can work on dropping to the single digits . Last week I said one day wiped out the whole weeks gains. You laughed then I said next week will wipe out the whole months gains you laughed . Well now it's in trouble and nobody's laughing now