Bought in at $47.30. Nice micro run up this week. Will ride this one out. I'm convinced we will see winter impacts on the hydrocarbon markets. Therefore I'm looking a little longer term through early next year. Best to all.
Ditto, Bobby. Shell will return when the climate and price improves. Forcing things at this point would be disastrous. I believe the information from this one hole was enough. As I said in a previous post; the oil ain't going anywhere. All the best.
Other factors involved. Don't believe it was a lack of reserves or a "dry hole". Return on Investment just was not there with the current price of crude and Nat Gas, plus this depressed market may be here for a while. The hydrocarbons are not going anywhere. They'll be back when the market improves.
Looking to get in sometime in the next 2-3 weeks. My rational or reason and my gut feel. Last RDS correction SP in 2008-2009 was ~ $43. We are very close to that SP now, which hints that we should be very close to bottom. Not saying we are close to a turn around, but with winter on the way, Investors will be looking at the Winter Forecast. A frigid winter would help hydrocarbon stocks. Part of the Farmer's Almanac winter forecast below. You can find it on line. JMHO. Best to all..
"According to the Farmers’ Almanac, the winter of 2015–2016 is looking like a repeat of last winter, at least in terms of temperatures with unseasonably cold conditions over the Atlantic Seaboard, eastern portions of the Great Lakes, and the lower peninsula of Michigan, Ohio, Kentucky, most of the Tennessee and Mississippi Valley, as well as much of the Gulf Coast.
New Englanders will once again experience a very frigid (shivery) winter (Déjà vu)".
Farther west, over the Rockies, the Colorado Plateau, Pacific Northwest, and the Southwest States, milder than normal temperatures are expected.
The dollar finished the day stronger yesterday due to Janet's speech according to the news and commodities linked to it were down. I suspect RDS SP will respond negatively to the strength of the dollar due to its being linked to the Euro. Am I reading this correctly? This might explain why domestic oil companies were up and RDS was down. I've seen dollar & currency swings over the years. I suspect we're in this very strong dollar to offset record imports from China and elsewhere, or for some political reasons. This trend will reverse over time where Gold and commodities will go up and RDS should respond accordingly. Again, Am I reading this correctly? Best to all.
Goldman's crude call for possible $20 crude price & another article for "Oil set to explode" out on the web today. Who knows? Next leg down in the coming weeks? Fed's set to raise rates? Perfect storm in the works? Watching and waiting for an entry point opportunity. Bottom not in yet. JMHO. GLTA.
Too late to reposition. Will ride it out with current position. Let the chips fall where they may. 30% bonds, 30% Gold, 20% cash, 20% Energy Services. Looking for RD in the low 40's for an entry point. GLTA
Make no mistake; I'm hearing more layoffs are planned, and a survival strategy is being implemented by many in the industry. All nonessential services and efforts are being put on hold immediately, with personnel reassignments where possible. Appears this one will take a while to run its course. The industry hasn't learned from its last turndowns. This may be, however, an inevitable condition created to ensure market share and dominance for those positioned to endure. JMHO. GL.
Hang in there, better days to come next year. Holding where I am for now for a better day. I was able to exchange some stocks to dry powder. Just waiting for bottom. GL & best to you also!