Those Wall St. thugs are really aiming to please their OPEC "bed buddies" by finally destroying American oil production, and have (once again) begun to carry a sizable premium on Brent. Recall that WTI had even traded above Brent for a brief stint recently (right after the export ban was lifted).
I'm not so convinced about that, personally. Given all what these "collusion artists" have pulled off thus far in having oil down at these levels, there seems to be no exact school of thought that's being applied with the current selling spree. #$%$, for all I know, it seems that there has been some alternative energy source that's yet to be unveiled, and oil is in the process to being shorted down to value-of-water levels!
I'm glad that I haven't touched this #$%$ ever since doing one flip around that $30 area somewhere around Oct. 2014! LMAO!
Check that 52-week high on CHK, bud. According to what I see, that high was actually $21.49 in early Feb. of last year. Nobody's safe of course, but CHK continues to make new lows. And btw, I loaded up on SWN last month in the mid $5's.
So... why does it continue to make new lows, while SWN has seemingly bottomed at $5? Any answer???
I've only scalped it since then. It's not even worth that type of risk at this point. BK soon?
Too freakin' funny!
It seems to be getting closer and closer to actually transpiring. LMAO! Is it time to buy XOP and XLE, yet?
Hopefully sometime soon!
Now, keep in mind that this would be (at least) 20% from any bottom that is finally set. Maybe WTI will go to $19.20, from a low set @ $16? Weee! Thanks for sharing some of your infinite wisdom with us, Mr. Currie!