I hear you bear, I'm long and have faith as well but I'd be lying if I said the large spike down didn't hurt. LINE was my second largest holding dollar wise before the fall and I added a few hundred more last Friday. Thank goodness for my AAPL shares and hope LINE and LNCO recover soon for everyone. I agree with a poster on the LNCO board that a distribution cut for stock buy back would be in LINE's best interest right now but I'm sure a lot here would not agree.
Great post Rob, we Robert's think alike. I like the monthly distribution but as I pointed out in the past if the SP is falling several times more than the value of the distribution what good is it. I know some won't like the cut but if it happens to allow a share buyback, I'm in.
You wouldn't welcome this "big move down" if you had bought at $29 or $30 awhile back. A lot of long timers are not feeling as bubbly as you are right now, nothing personal.
Not just energy but stocks like FB and AAPL as well. BDC's , media even banking. looks like someone wanted out of the market or maybe freeing up cash to jump into over sold sector like energy maybe?
I follow about 30 stocks and see that quite a few had big drops all at the same time. Looks like it started at around 9:40 and ended at about 9:50. This HFT BS has to end.
This is the last time LINE traded this low and WTI was $58 bucks / barrel. Obviously this doesn't take in consideration the paid distributions since then. Point is oil $58 LINE $16.50. Right now WTI is above $66 so this looks oversold to me.
There are very few guarantee's in life but other then the certainty of death at some point, I would say the other is oil will recover. It might not be in a month or two but I am certain, the latest would be sometime in 2015. Smart money will come into this market in the very near future and the best of the best will be picked off first. XOM, EPD and CVX to name a few but this isn't the end of $80+ oil. Have a glass of wine, read a good book or catch up on some cable series just get away from the internet for awhile. This will pass like Ebola and the mess back in 2008. People are still driving their cars and trucks and Winter means cold and energy to keep us warm. Lastly be thankful for what you have because there are a lot of folks who are just trying to figure out how they are going to pay next months rent or put food on the table tomorrow.
What problem are you referring to? GW sr could have did it as well but knew it would create a void filled by someone far worse so he took a pass. He also tried to talk his son out of it as well to no avail. It's a shame some don't take the time to research history before they go spouting off.
It was also Bush and Chaney's fault for destabilizing the entire region by over throwing Hussein. If he was still in control ISIL would not be.
Funny I've read Iran won't ask for a cut. We'll find out soon enough but even without a cut oil will stabilize soon. I don't see the Saudi's allowing oil to fall much further so if they don't cut tomorrow they will in early Spring. This was reported earlier today.
"Saudi Arabia will this week push the Organization of Petroleum Exporting Countries (OPEC) to cut production by up to 1.5 million barrels a day to help re-balance the market and lift oil prices from their four-year lows, analysts and strategists told CNBC.
Nineteen out of 30 market professionals contacted by CNBC say OPEC's leading member Saudi Arabia will spearhead an agreement to cut supply at its November 27 meeting.
"Only a 1.5 million barrel-a-day reduction would help stabilize the price at this stage," Ole Sloth Hansen, head of commodity strategy at Saxo Bank, told CNBC.
"If no action is taken the market will see this as a renewed selling opportunity."
"The market is now asking the Saudis to show how much control they really do have within OPEC," said Carl Larry, President of Houston-based consultancy Oil Outlooks and Opinions.
Nonetheless, 11 out of 30 strategists polled by CNBC believe OPEC won't take any action this Thursday, possibly deferring a decision to early next year.
"It's hard to imagine any significant cut," said Daniel Yergin, vice-chairman of IHS CERA and the Pulitzer-Prize winning author of 'The Prize: The Epic Quest for Oil, Money, and Power.'
"So, you see I didn't pick $60 out of a hat. Of course, it's only a possibility. I think I used the "p" word several times."
Oil could also spike as much as $15 if OPEC decides to cut. I don't see that possibility anywhere in your scenario.
By Lananh Nguyen Nov 26, 2014 8:52 AM ET
"West Texas Intermediate fell from the lowest price in more than four years as Saudi Arabia’s oil minister said the price will stabilize by itself, while the United Arab Emirates said OPEC will do what it takes to balance the market."