Well, the offshore driller woes haven't gone away unfortunately. Oil price weakness is not going away either. It is a tough situation for longs like us. It seems like dead money for now, much as I like it to be different. When the oil price recovery happens there may be some relief I would think.
Dinepat, Of course they will sell at any market price if they are still in business and they produce. They are not going to accumulate inventory waiting for better times. Otherwise their cash flow will cease. And a rational firm will produce as long as they can make a positive profit from the mine, i.e. Price - mining cost is more than zero. If you want to pull for the stock by all means do so. I am long and we are on the same side. But get your facts correct and be credible.
Other than the oil price downturn, we are not looking at any company specific weakness, are we? I bought into a small position of 500 shares at 17.50 and, I am wondering if I should sell my RIG shares and beef up my NBR position. My logic is that NBR does not have the more serious offshore drilling industry problems that RIGs and DOs of the world face, oversupply of equipment etc. Once the oil price recovers we should resume activity in shale oil land drilling and continue to grow. Any thoughts will be appreciated.
Teva Pharmaceutical Industries Ltd Price Target Raised to $70.00 at Maxim Group (TEVA)
It is on a roll. 75 is possible too. On a PE basis very cheap.
question is how much of it is already baked in... pessimism is very high now vs. after previous earnings, still optimism was widespread. of course, there is still high level of uncertainty abou where oil price is going and how deep the downturn for drillers will be.
Doesn't look good today -- Friday was a one day wonder for gold .. May be.
Yes, screaming buy, but not just yet for WS. This has been a very selective bull market lately.. Tech and pharma are the leaders and the rest laggards.
dstone, do you see supply responding that quickly to price of gold?
dstone1956, what are your thoughts on AUY? I probably should be buying GDX going forward, but currently I am a bit heavily weighted in Yamana. Thanks.