Mut. Funds are dumping baskets of energy stocks because toxic oil stocks at ruining what should have been a very good year for stocks. Even though less than 1% electricity is generated by oil, solar stocks have been track oil lock-step, because of this basket of stocks correlation.
End of year tax loss selling has accelerated. Funds are dumping the biggest losers like SPWR and Cree to offset the gains on FB and DAL or AAPL. This chart is heading sub-20.
If you plan on your company increasing in value, why would you sell a majority of your shares at $6 Million, if you could sell them at $12 million? Although you may have point, most sales were planned ahead, right before E.R. OK., I'll admit it. You're probably right. They were planned sales.
You can argue that Solar does not compete with oil, because oil is not used to generate electric, but the reality is: Solar stocks are being sold off by Mutual funds in the same baskets as oil stocks. This is what is causing the direct Oil/Solar correlation. Oil cannot stay down forever. I'm a big buyer when this hits 7.25.
Chart heading to 25. This is a Total LOSER stock.
Worst run, crookedest, most unethical and criminally negligent of the big oils.
Payback for killing all the fish, and polluting the Gulf forever. Kharma is a b!%# BP.
Update: Oil is now going to $45 a barrel. BP is 100% overvalued. Only worth $22 USD / shr.
It is also Taxable, whereas appreciation of other stocks (not PAAS) is not.
Market is up 18% PAAS is down 18%. That's down 36% in my books.
Monday will be a BloodBath in Gold and Silver, as there are no limits to the Greed of the bass terds manipulating the precious metals markets totally unregulated and unfettered.
No, i am Dog. The anagram.
This very moment, the devil's henchmen are plotting to crash the price of Gold and Silver on Monday using their big, powerful HFT machines, while you sit at home watching Amercan football on cheap chinese made big-screen tv.
Support is blown out, Oil in a freefall, OPEC killing the cow to come out on top of the dungheep.
The Saudiis can pump $40 oil for years, putting their growing competition out of business, with Washinton's blessing, Puting that big-headed Putin in his place by taking away his pocketbook. Russia gets over half their hard income from gas and oil.
Barrick spinning off assets just to make payments on their massive debt burden.
Mangement hijacked by feckless ex-Goldman jacklegs; ABX stock not worth a nickel a carload.
48% No's to 38% Yes's means Swiss referandum unlikely to pass. JP Morphine will crash the Gold Market ruthlessly on Monday, and make a Killing covering they shorts.
We all know when Germany axed for they Gold back, the Feds blocked their game. The Fed "loaned" out the Gold to someone else, who sold it. The Fed vaults are empty. We can also assume Ft Knox is empty as a bass drum.. The generals use it for RV storage. 99% of the U.S. Gold is now moved East.
Rarely do I agree with the crooks at JP Morphine, but this time at least on the first part, I do.
Apparently, there is talk of these two in talks about merging again, in witch case ABX stock would drop and NEM would go up. I would sell abx just on the rumor that the co. is being run by a bunch of balless monkeys.
Barricks is becoming less and less a mining concern, and more and more a Legal entity.
Fighting the Indians and environmental courts in Chile over destroying the Glaciers and blatantly breaking the environmental laws, and polluting the downstream communities' drinking water. Fighting class action suits from "investors" who lost $25 -$30 BILLION believing management which continually stated that the now defunct Pascua would make abx a low cost leader. Those lying upper escargot boarders have left, taking billions in investors' money as "golden parachutes," but will never see a day of jail time. Fines and legal fees will be paid out of shareholders' equity, not the Criminal managers' salaries. This stock is not worth a nickel a carload, IMHO.
Too much Debt, very investor un-friendly BOD has been taken over by foreign interests who are going to destroy the company, and sell off the underground assets to the Chin ease after taking out huge golden parachutes. Whatever you have lost so far in the recent price smash is irrelevant, price is going to zero.
J.P. Morp[hine and fiends have tons of free paper from Jellin Yellin to ruthless smash down the price of Gold until every last gram of physical has been shaken loose from the hands of a the investors. When the price rebounds, they will make Hundreds of $Billions off their ill gotten horde. ABX will be a smoldering pile of cinders.