That right re WLL OAS. Don't get why those stocks worse. Have hedges too. Maybe CLR was just a much stronger company but big budget cut looks like a death spiral.
buys pxd time. That is great management in a difficult situation and it is tough for all these guys. They hedged 85% percent of production and some of that must be at high price levels. I would not go long pxd but admire what they did.
The 2nd question is. Are you not better off buying PXD if you believe in the oil stocks, a company that was aggressive in hedging production with little debt.
Sentiment: Strong Sell
question is always; what is the upside to this stock; cash flow neutral is not much of a goal unless you are a tech startup
down 5 as in going from 80 to 75 on pricing. Don't know much about bonds but that is going to determine where clr goes.
That makes sense. yesterday cnbc said they picked oas and wll bonds for 15-18% yield only because they had traded during the day.
That is basically Bloomberg? Do you have a site where retail trader can look.
maybe he ends up buying himself more than 6 months with more cash. The longer the timeframe the less the risk. He also probably knows his ownership is not worth anything if oil does not go up. Buying extra time makes more sense. The PXD secondary does give him a bit of hope.
no reason to go on tv if no secondary. Watch the video, he is smiling more than yesterday.
why put yourself out there answering question if he did not need money.
He is trying to protect his wealth any way he can and secondary will help
my conclusion is that it is not a smart market. Just ETF traders or algo trading in the short term but in the long term it sorts itself out.
in addition, Jeff Gundlach said oil might bottom today and clr right away went up upon that comment on cnbc..; so a trade is going on here
Its strange. The float is just too low for aggressive shorting. There must be some big holders that are not giving up on CLR and anytime the stock drops, it is just shorts taking profits; to reload higher.
So far the big holders don't appear to be shaken out in my opinion. It depends on them.
Also a secondary will really increase the float; that's why CLR will play catch up to other weak shale names.
The real reason could be:
My feeling is that the big holders of this stock are finally getting a bit nervous; I don't know how the bonds are trading but these guys will be very aware of what is happening in the bond market. That is what can bring out the sellers. Until recently my understanding was that bonds were doing fine. It has to start from the bond market. If they sell, it will drop very fast.
In addition as other shale stocks go under $5, CLR becomes a bigger target for shorting.
its only the low float holding it up better than other shale over the past year or so. Not enough shares to short.
I do think the big holders see the bonds trading and know what is inevitable for clr.
he says Saudis made a mistake not cutting production. LOL. His interview as nothing other than him looking kind of down.
Cramer later said hamm was just talking his book. Saudi did what was best for them. Now a rumor of a Saudi peg to dollar changing, devaluation, that will kill off us shale production.
David Faber on cnbc, that basically all of these oil producers will need restructuring according to his sources..that is also another way of saying bankruptcies. called it 'dead man drilling'
Is it me or did Harold Hamm look really concerned in cnbc interview? I could sense his feeling really down based upon facial expressions. I guess one should not be surprised considering what has happened to his stock. Feel sorry for him at the same time I expect the stock to tank