Like I said at the top of the week, unless oil hits $50 this week I will cease to post here. Unfortunately, the FED buzz may have put the final nail on my coffin. Best of luck all.....Sammy
Sure the markets up so that explains 1%, leaving 3% rise to Buffet buying? I just don't see it, do you? Sammy
Well perhaps Buffet and Munger will call a dinner meeting with Cook just like Ichan did to get the needle moving again? Or will they let things go where they may?
Or do you think 9.8 million shares is to concentrated positions for Buffet and Munger? Sammy
Boy it must be nice to be rich and influential....Sammy
I'm all in as this Oil Bull charges ahead!
R U freakin' kidding me with 5 thumbs down. Come on already, just how do you expect B&L to sell out at 3 times what VRX purchased this unit recently? It's their cash cow and without them guess how this all ends??? Sammy
With capex being reduced over 60% over the last two years, you got to wonder just where all this oil is gonna come from the feed all those supercharge big block V8 trucks and SUVs on the highways with the summer seasons just around the corner. It spells one thing and one thing only - $50++ oil prices. Another KINGCALL right on the money!
I'm going to a loss of 10 Oil Rigs today. That brings us down to 313 Oil Rigs, just 13 units above 300 Rigs. Lost Rigs, lost productions, falling supplies means one thing and one thing only -- higher Oil prices. Can you say Oil Bull??? Sammy
Does the counter party to a off exchange options contract require the writer of puts to square away as the bet turns against the party short the puts? Would they be marked to market or at some point fully collaterialized?
Let's give credit were credit is do. Moreover, last week I said we would take out a new 52 week low by the end of this week. Well guess what We just did a few minutes ago. Thought ladies??? Sammy
Exactly Pal. You see the EIA and API data is lagging data probably a month or two. So you see why its so important to follow the trend and overlay that will a little market knowledge. And one day we will all have our own millionaire funds.....Sammy
Not sure were the ultimate low is but have a very funny feeling how this is gonna end.....Sammy
and the grim reality for those continuing to short since the lows in Feb. at $26. What stupifies me is the alleged expert continuing to call for $30 oil saying SA and OPEC are gonna crank up production further and further as we start to see multi million barrel draws. Furthermore, E&P budget have been cut by over 60% in the last two years with less and less oil being pulled out of the ground. Then you have OPEC countries that can't pay their bills, including the largest OPEC oil producer Venezuela. Now the guys pumping this oil out of the ground are leaving the country., Both Iran and Iraq running out of money turning to China for funding to keep production alive. SA cutting back on social welfare programs as they begin to deplete their national reserves. Moreover, worldwide oil demand continues to swell as China and India get into the mainstream, buying cars by the boatload, surpassing US sales.
Honestly, it don't take a rocket scientist to see that oil has nowheres to go but up from here. And I called the bottom on Feb. 19, at $26.13 while mostly everybody here was saying were gonna drop under $20. Now with oil at $46.50, moving up 78% in less than three month. And with the OPEC meeting fast approaching in three weeks, oil is building a spring coil that is set to release even more kinetic energy to the upside. I should have mentioned upfront that this is "The depessing truth about the oil market" IF your short......Sammy
This reminds me of the DNDN board as the stock made its way down for triple digits before folding eventually. But yes there were some short term uptrends for the avid trader to catch a few extra dollars but the trend was decisively down. I know because this was another good trading stock to play the momentum on the way down. Anybody remember? Sammy
I check the debt levels and LINN was $5B and CJES only $1B. But it was the debt load and market conditions that did these guys in. You never know who could be next from those companies carrying heavy debt loads and where market conditions shift. Thoughts gents???
You says "serious investors know who to trust with their money" for the rest of your life". Not for nothing Pal, but VRX is down like 90% over the last 12 months. Seems like you just might be stuck on the long side, no?
Let me help you guys out. We will hit $50 before the June 7, OPEC meeting. Bookmark this KINGCALL!