It's starting to look like the Kuwait strike is washing out the lack of agreement on production. $40 oil might e with us for while. A large part of Bakken oil cost is transporting it. A new pipeline is under construction and that should take $10-$15 off the break even price. It's not all bad news.
I tend to ignore those who only bash or only pump. You have been on my ignore for quiet sometime because you ony bash this stock. If you want soe credibility, you need to be positive some to.
Differences in opinion is why we are all here. Time will tell. As an old football coach, punting into the wind the right way ( low, hard and away from the receiver) can be very productive. Higher oil prices equate to better credit ratings which equate to lower interest rates and more access to funds.
We've been trading for just over an hour and we've exceeded the average shares traded for the day. Weak knees are bailing and someone is snatching up their shares.
This is a very intelligent post and it is well written. But it ignores the the one factor that will determine the p/s and that is the price of oil. Most people seem to be looking forward to higher oil for the rest of the year and that is a big positive. In my opinion this will be the last chance to buy in at $.50 or lower.
Bid at $.6119 for 100 shares and ask at $6120 for 100 shares. These trades have to be free and who is making them is controing the price. This is a highly manipulatable stock.
I just saw that China's economy is improving. That should move oil up as they consume more of it. Russia and the Saudis are competing for market share in the Chinese market. Both can pump oil for under $20 and both are in need of cash. Russia does not worry much about domestic need, but the Saudis have more domestic needs because it's people rely upon government subsidies to a large extent. Just brainstorming my thoughts and hoping someone can put all this together and come up with a trading range for oil.
It has to be MM trading, they don't pay commissions and they manipulate the price. When their books are balanced, we should run with oil close to forty. I think we hit $2.00 the last time we were at $40.
It would cost me $9.25 to by 100 Shaes and another $9.25 to sell it and yet someone was trading like that all day. To make money at $.50 one would have had to buy in at $.32. It had to be shorts trading today. They are about to loose contol as the shorted shares are running low.
Volume is up a lot, but the bid ask numbers are and have been from 1 to five. I guess the shorts are trying to settle. It looks like we may get a few days rising oil prices and we just might finish the week on our way for a change.