I remember doing that on a driller one time(DPTR).
I kept off setting my cost basis until all of us found out that DPTR
had successfully completed the deepest WATER WELL in history in Kittitas County,Wa.They went broke and now I have one year remaining on taking my deductions on a loss ($3000 per year) as that was my only redeeming factor. They also kept reverse splitting to suck in the naive but eventually nothing worked.
Looks like nothing anyone can do to stop it.
They are sucking crude out of the Baaken and Eagle Ford faster than they can build storage facilities.
The Saudis meanwhile are seeing their huge cash holding slip away while the shalers are rubbing their faces in it.
I was waiting also for an under 30 for a "get in".
Pick up 30 or 40 now and then.
It all adds up.
Tankers floating aimlessly at sea.
Lots of card games going on.
Building rail cars to store and 250,000 gallon holding tanks as fast as they can.
MAYBE gas at the pump will get so low that one will be forced to use a little more.
Ya know...the country with a fraction of the GDP of California !
I mean how many items do you have from Greece ?
STRONG DOLLAR TOO.
And now I am beginning to get jaded.
Last week up .14 "eh....be down next week".
Been through this before but not at this low of PPS.
I'll hang in there as well as most others. Thanx for the replies.
"no matter the weather"
Weather conditions do not seem to affect these rigs UNLESS of hurricane proportion winds.
I must be getting old since I had it in the 12s.
But with the 1-3 reverse split I guess it really was in the 36s.
Countries can rise and fall in 2 or 3 years.
Oil is like the market...it goes up and down.
What was your prediction last May for the price oi that itl would be today?