Someone knows something... Huge swing upwards today on no news except that feb. 5 is the next earnings report. My guess it will be a strong one!
"Oil Prices And The Significant, Long-Lasting Impact On The Economy - The current oil price decline is not accompanied by an economic growth contraction. It’s the first of this type of decline the world has seen in many decades. The current oil price decline isn’t being driven by a decline in demand, instead it’s being driven by an increase in supply." Forbes - Jan. 2015
Even if oil price projections don’t have a great track record, the market usually pays close attention to what major banks have to say. Last Monday prices fell as much as 2.5% after to Goldman cut its oil price forecast.
According to HSBC, a further weakening of demand for crude cannot be ruled out due to the “damage to demand” in key emerging market exporting nations like Russia. But the U.S. dollar’s continued march higher is a factor too. Its strength is exerting downward pressure on oil as dollar-denominated commodities become more expensive for foreign buyers. The dollar is trading at multi-year highs against the euro, in part because the European Central Bank is widely-expected to kick off a program of quantitative easing this Thursday, a bearish move that would suppress the euro.
But while oil forecasts now are for continued downward pressure, most analysts expect a price recovery later in the year as global economic growth strengthens and cheaper oil helps stimulate demand. The low crude prices will also put a dent in the relentless supply growth of recent years as they hurt producers, with the high-cost U.S. shale industry bearing most of the brunt.
Friday - January 23rd
The price of oil will go lower as supply and demand remain unbalanced, activist investor Carl Icahn said Thursday.
Icahn, who spoke with CNBC's "Fast Money: Halftime Report," said that Saudi Arabia's decision not to cut oil production blindsided the global market, and that he expects the commodity's price will keep sliding.
"I think [oil's price] will continue to go down unless there is some outside event," Icahn said.
Read MoreOil fields at risk: Where the slowdown has begun
Still, he said he sees a "tremendous opportunity" for when oil eventually rises again—but he admitted that nobody knows when that will happen.
"I wouldn't rush in now on oil, and that's talking against myself because I own a lot of oil stocks," he added.
I think this proves
ONLY FOOLS RUSH IN!
Buh-bye - I'm in to at least $2 - thanks for the cheap shares. Gold going to $1400 my the end of March.
Too many people here live in total denial. They aren't even looking around them and seeing what is going on. The ENTIRE oil industry is in total disarray. Your comment is so rich seeing that you don't have a problem voicing your opinions---- sfceric64 on Jan. 14th, 2015... "Early bottom covering, imho. Though the risk/reward is more in favor of long positions. Seems at least to me the panic is over for the most part and stabilization is settling in, for how long though is the question. Seems like a buying opportunity/covering rally may be in the works towards the middle/end of the reporting period" Really???... how is the risk/reward been more in favor of a long position? What if the current price is cut in half? I have not seen anything vaguely resembling a turn around. As I am listening to various sources predicting a bleak 2015 for oil it sound like more in favor of short positions. Not that I am shorting, but I would not buy any WTI until the blood stops oozing and I see a lot of pain for current shareholders. If you don't like other people's opinions you should not come to this board. I've been on Yahoo Finance's boards since they've been in existence. Never have I heard so much wining from people as those who resort to personal attacks and misinformation on this board. Best of luck with your shares... For your sake I hope you are right, but I don't see it in my tea leaves or crystal ball.
Friday, January 16, 2015 06:43PM
HOUSTON (KTRK) -- Far from the corporate headquarters of energy and oil services companies in Houston, some of which announced layoffs during the prolonged decline in oil prices, there is pain about the price at the pump.
In the small town of Simonton, we found Mike Jones, who lost his job with Schlumberger in the past week. This week, the company announced it was cutting some 9,000 jobs globally because of the collapse in crude oil prices.
Baker Hughes to lay off 7,000 as oil patch layoffs mount
Gary Strauss, USA TODAY 5:41 p.m. EST January 20, 2015
Global Hunter Securities downgraded shares of W&T Offshore (NYSE:WTI) from a buy rating to a neutral rating in a report issued on Tuesday. DEC.2,2014
Global Hunter Securities has also modified their ratings on a number of other energy stocks in the few days. The firm downgraded shares of Clayton Williams Energy, Inc. from a buy rating to a neutral rating. Also, Global Hunter Securities downgraded shares of Bonanza Creek Energy Inc from a buy rating to an accumulate rating. Finally, Global Hunter Securities downgraded shares of Approach Resources Inc. from an accumulate rating to a sell rating. - AND WE ALL KNOW THAT IS HAS GONE FROM BAD TO WORSE SINCE THEN!
Buying as low as I can in the oil and gas sector is too tempting. More pain for those who hold to the bottom. I learned my lesson the hard way years ago. Buy low and sell high!
Just some... pertinent info-----W&T Offshore Inc.'s shares have lost 1.51% in the previous three trading sessions, 12.91% in the last one month and 58.95% in the past one year. The company's stock is trading below its 50-day and 200-day moving averages of $7.55 and $12.59, respectively. Furthermore, shares of W&T Offshore Inc. have an RSI of 36.06. I'm not looking to rush into anything right now, but thanks for the tip... I'll look into it.
I'm waiting to get in much lower to make 50% to 100% return on my investment. Buying low and selling high! Looking at all the information right now that points to Oil going to around $30-$40 a barrel and probably averaging around $46 for the year 2015. This means that WTI still has a lot more to shave off the current price, especially since it has a P/E of over $41.09X. It should have a P/E around 10X and no more than 20X and that means a price half of what it currently is at. So, $2.50 sounds about right, but I may buy shares starting at around $3.50. People owning this now are too emotionally attached and probably have lost a lot of money. They can never see when it was time to sell and buy lower... Or at least cost average by buying much lower. Instead they resort to name calling and posting misinformation of targets that were back in Sept. 2014... There have been several other analysts who have downgraded WTI and probably more to come as the entire sector gets hammered. This is what happens when people fall in love with their stocks... they get burnt!
If I were bashing the stock - I'd be calling it a pos.... I'm interested in buying in, but all you "clown pumpers" here post ridiculous #$%$ from back in September. Being long (if you are buying small portions on the way down) may be a good thing long-term - over the period of many years,,, but I'm waiting to get in much lower and in for less than a year. Looking to make 50% to 100% return on my investment. Buying low and selling high! Looking at all the information right now that points to Oil going to around $30-$40 a barrel and probably averaging around $46 for the year 2015. This means that WTI still has a lot more to shave off the current price, especially since it has a P/E of over $41.09X. It should have a P/E around 10X and no more than 20X and that means a price half of what it currently is at. Name calling really shows me the amount of maturity you have regarding trading stocks and show that you are too emotionally attached and probably have lost a lot of money. My posts should encourage you to sell and buy lower... Or at least cost average by buying much lower.
At least the pumpers could post current target prices. Here on yahoo the predicted price in one year is $8 and there have been several downgrades since the double digit BS that was from Sept. 2014 before the price of oil crashed below $50. Wake up and realize what is happening people!
You dip... That was back in September... Mean Target: 8.19 In a year here on Yahoo! Plus several other downgrades in single digits. Fact is that it is a $5 stock and soon to be a penny stock. You obviously are too in love with this stock and will probably loose even more trying to pump up the price. At least post correct and current information!
P/E is way too high... Oil is still plummeting with no end in site. Going under $5 soon and no end in site for the drop!
Your post sure hit a nerve... pumpers trying desperately to post bogus hype about double digit rebound as oil continues to fall. Panic is starting to set in!