I'll say it again, you don't want to bet against the Saudi's with 3/4 of a Trillion Dollars in cash reserves. That said, to a certain extent their manipulation will not be as easy this time, not to mention lower OIL PRICES cost them 10's of BILLIONS in revenue with OIL down from 115 to sub 70.
Many OIL producers went out of business as a result of past Saudi manipulation etc. However, since then OIL producers have greatly reduced production costs and continue to do so with new technologies etc.
Gulf producers will weather the storm once again and wait out the Saudi's manipulation of the markets. Even most land based producers will remain profitable with OIL at 60, or lower.
Smaller heavily indebted producers will feel the most pain with many already forgoing expansion plans.
Funny how SHALE / FRACKING etc. caught many including the Saudi's by surprise. The WAR has started, but I don't expect the Saudi's muscle to provide them the same results as past. US production is here in force and here to stay. The question the Saudi's need to ask themselves, is how much MONEY are they willing to lose in a whole new battle they may not win in the long term.
NO GUESSING NOW.......Saudi's muscle wins again. OIL ahead of US market open so far finds $67.75.......
Should see serious drop in sand sector in pre etc.
ps. I'd never be against the Saudi's.......NEVER
The only thing mounting is the laughter by the Saudi's you fools bet against.
UMMMMM I'll buy those long shares from you LOWERRRRRRRRR :-)
HOW'S THAT "LONG" POSITION(S) WORKING FOR YOU ALL ????
Saudi's win again and patience gets me shares in this sector LOWER, as bag holders deepen their losses.
OIL finds $67.75 low so far ahead of US market open.
TOLD YOU.......I've been calling for sub $40 here for a few weeks and next session should see it come to fruition.
OIL could drop to 60, but could find support a bit higher. Already OIL dropped to $67.75 ahead of US market.
further in pre and beyond. Get those short orders in asap :-). I should be able to get more shares on the cheap :-).
By summer next year, this stock will find new highs and at least 17 per share. OIL will drop below 70, but growth here clearly isn't slowing.
Stock could easily find new highs in 2015.
to do so on further upside. Why? Because "OIL" is going to drop down under 70 soon.
and will again make at least another 60% in the next 2 years. My top investment followed by sand frac companies.
leegs1, perhaps if you post another 100 times an acquisition is coming, you might eventually be right. Just saying LOL.
Not short EMES, HCLP, SLCA, or FMSA........Own them all long term, want more shares on the cheap to add to core and will continue trading for short term gains :-).
Short these companies after beaten down is much more risky than buying long on dips.
ps. I always find it funny when bag holding longs think everyone who wants cheap shares is a short. You know, the idiots who are all in types and only WISH they had kept some dry powder to buy LOWER====LMAO!!!
AMEN....do some homework small fry. Sand plays are here to stay. Bought more FMSA and looking to add in EMES, SLCA and HCLP if recent lows get tested again.
CEO cashed in for $500M and now looking to cash in again lol. He's one smart dude.