is acting about the worst of any retail stock today that I see. The sad part prior to today and the Brexit is that it was showing a little bit of life and it gave it all back today and then some
I have to question this call they raise MRO's target by a third from $15 to $20 but keep a market perform rating? If I was to bump a target by that much I would place at least an outperform or a buy on the stock. It is working to some extent with the Dow down over 500 MRO is not down that much with oil lower by more than 4%. This is how they keep a stock higher.
MRO got a target raise from BMO after the Brexit. Analysts are tripping over each other to raise oil related stocks day after day. I am curious when these companies report if they will actually show profits or still have losses after the big move up in oil. Also you have to believe that as oil moves higher production levels will pick up. Time will tell.
At this point in the move he believes there may be another 10% from here. He basically called it a spec because it's more levered to the PC still. Meanwhile the futures flipped from up big to down pretty good now. Sometime an event like this Brexit becomes a near term top for markets. Tomorrow expect some swings since there is some re-balancing going on.
But all this buying of the markets and oil now appears to be for the wrong reasons and some to do with a weaker dollar also. Markets were rallying into this Brexit vote and continue to do so. I am wondering if this type of event becomes a near term top sometimes it take a high profile event to do so. Let's see the next few days how things go. CLR rallies harder than any other energy stock I watch if this rally continues CLR had better deliver come early August.
They picked a good day to upgrade with where futures are but if the markets rally and hold this is the biggest BS rally based on the UK staying. Markets have already run up into this vote. If they ever vote to leave we will see a serious reversal tomorrow and then some. I have a feeling this market fades by noon. Europe is lower by a decent amount from where they were 3 hours ago. I am happy that MU is bouncing back I still own some but these rallies now are based on the Fed and not much else.
Agree....I owned some SuneEdison from $1.60 and still own them not a lot but they are at .14 and kind of surprised they are still that high. SCTY is the next SUNEQ and like you said TSLA shareholders will absorb the large cash burn each quarter. TSLA will be at $150 soon and each quarter will show the losses from SCTY and that will take it's toll on TSLA's share price. I predict by late 2017 or early 2018 TSLA will be near a $50 stock the cult like experience of shareholders will be long gone.
Oh no should I start hoarding gas in my garage? Oh what to do what a dilemma we are in? I remember waiting in the gas lines of the 1970's with odd/even days....say it ain't so!!!
Give it a little time and producers will be running to get their rigs back on line to take advantage of these higher prices H. Hamm already said he would a few weeks ago. At that point figure out where the price will go. Peak driving season for traders ends in early July and the EIA said that commercial inventory levels were still at historically high levels for this time of the year. When all the TV pumpers are done oil will go lower eventually especially after a double in 4-5 months. There is still a ton of oil around and when many of the disruptions are done oil will be back in the low $40's soon enough.
Oil was down almost 3% an hour or so ago once again a buying frenzy into the close cut it's loss in half. They will not let go of the trade and if you heard Yellen this morning she was asked if lower energy prices was a good thing and she replied with a definitive NO! You have the Fed doing all they can to keep prices higher and that's the bottom line.
Inventory levels backed up by 5 days last month sounds like a crisis. This is probably a buying opportunity I bought a little at $12.80. Cramer is going to do a bit on FIT tonight on Mad Money. He has been so wrong on FIT but we never hear him talk about his mistakes.
Not in any new trades with oil it seems their numbers want to prop up oil despite the EIA stating that "the commercial crude inventory remains at historically high levels for this time of the year". I'm hoping for some pull back in energy and certain stocks for a trade sold my last of DVN at $38 yesterday. Your point on not counted as inventory until it is on the tankers is crucial yet all the talking heads say demand is robust when it is more about squeezing supply any way they can to get higher prices. It's OK as prices go higher production will pick up forcing prices back down they cannot resist. Recently Harold Hamm said he was about to boost production it's just a matter of time.
It's weak results from early May may have had something to do with it. The stock ran to $7.50 after they raised money but you do need to show good results as oil has basically doubled in 4-5 months. It is being propped up today by options even with oil down (read the article here from yesterday) even with oil lower after the inventory numbers were released. I t may be temporary if you read the article and the time frame of the options. The $5.90 area seems to be pretty good support for now of course that depends on where the price of oil goes. If producers pick up production then oil becomes a coin flip. If that lower band arrives soon I'm a buyer.
Yellen was just asked if lower energy prices are good for the economy and she said definitively NO! This woman is so out of touch like all of DC is. She said it would add to spending so would the extra dollars in consumers pockets that they could spend on goods which create more jobs than the energy industry does. She has it butt backwards and I guess that;'s why she is out to destroy the dollar it seems to be her only mission these days. Yes a weaker dollar helps some corporations but it also chases away foreign investment. Yellen has truly looked lost these 2 days of her testimony. The Florida beaches are calling her name....It's time.
First fund managers who bought TSLA believing it was an auto company will be selling tomorrow early then you may see the covering begin. TSLA shareholders had better hope Musk does not do any kind of secondary soon to fund the purchase then we see $180 or less. That would be the time to buy I believe.
Not tonight it may close near the low at 8pm. Fund managers will be selling tomorrow it will be even lower I believe. It did break $190 a few minutes ago but managers who invested in TSLA thinking it was an auto stock not a solar company may put pressure on shares Wednesday.