Yet oil is still below it's recent highs. I truly am starting to believe that CLR has traders buying their own stock since it moves up more each day than any other oil stock.
Cramer blessed AA again before the open today and tried to start a rumor that one of the divisions could get bought out. It was his final desperation attempt to get shares higher after his recent big pump AA chart show that got AA much higher that it is now. The market realizes that there is still a lot of supply around and AA's last earnings were less than stellar.
I agree to some extent but this is starting to get silly oil rebounds off any pullback and that's all that matters to the machines. When Yellen was on the hill last week one politician actually asked her if higher energy prices were good for the economy and without hesitation she said yes because she is very concerned about capital investment in the sector. There in lies the problem with our leaders (lower energy prices do much more good for the overall economy) thinking along with 0% interest rates and she wonders why people are not spending like they normally do in "real" good times. Seniors and savers gain nothing, college students are in debt for a big chunk of their lives and of course there is no inflation according to the Fed and markets....so everything is perfect. Like I said get out the dart board and make your picks.
That's the silly reality it seems it's like the Brexit never happened and will have no affect on things. Get out the dart board and buy anything. Global growth is great and as long as the machines and the Fed are in charge it's straight up for everything.....No?
CLR just reaffirmed their 2016 CapEx guidance. They spoke of a $2.75 billion revolver with the ability to raise it to $4 billion. Based on cash levels and debt they had better pray oil never drops into the $30's again. They said they are cash flow neutral with WTI at $37 and CLR promised a few months ago about being cash flow positive in the back half of 2016...we'll see. The main reason this stock moves like it does is it is largely held by insiders and institutions with less shares available. I kind of agree with you that the share movement higher is a bit of a fraud but share availability does move stocks and I would not be shocked If Hamm has traders buying shares each day. Their earnings should be a tell of how they are really doing. To me it seems like they borrow just to produce the oil and keep workers working.
API not always consistent with Wednesday's number market may be waiting to see those. Oil flat now in the AH plus they ran oil and related stocks big today.
Down 3.9 mbs estimate -2.4 mbs. The oil trade is actually flat now they did run oil and the stocks pretty good today and markets followed. API is not always in line with Wednesday's numbers thus no big buying in the AH.
They did it for many months to bankrupt US producers and to preserve market share. Were you paying attention mid-late 2015 early 2016? We will never see anything like your target and watch what happens to the oil trade after July 4th.
I want to see how the oil traders treat oil after July 4th. Sometimes it becomes a weaker seasonal trade for theses traders when they look forward for the end of peak driving season. What you say about Trump may be true but all politicians say anything to get elected and if he won he would never get 1/10 of what he wanted to get done.
You have it backwards most likely you are long CLR and that's fine but lower energy prices create so many more jobs in other sectors than those created in the oil sector because of gaining oil prices. Lower energy prices reduces input cost for almost all industries, allows more hiring and puts more dollars in consumer's pockets to purchase stuff and we are basically still a consumption society. For now the algos are rewarding higher oil prices in the markets but that trade will end at some point when oil prices get too high and slow down all economies. Economists have the numbers that for every penny drop in the price of gas there is a corresponding gain or savings for Americans and I bet worldwide consumer too. We used to hear the benefits from every TV talking head for years of lower energy prices but now we hear the opposite so as to insure the debt the banks hold for the overbuild of the industry in recent years gets repaid. That's all that seems to matter for now. In this fragile global economy if we ever had $100+ oil you would see a global recession.
I just saw this pass on the CNBC ticker and I looked up the stats on this company I have one question why was this even at $13? I understand the small float but the cash to debt here is horrible along with all the other key numbers. This should be a $3 stock at best even with the small float.
When Shkreli takes his first prison shower and drops the soap for the first time. Those who bought above $30 and $40 can supply the soap for him.
It took a month but today was the day under $14 this market allows levels that you never think will happen....this time courtesy of the Brexit....there is always an event like this every few months. This market was so overbought on valuation and earnings numbers so Brexit was the newest reason to drop over 100 S&P points in two days. Hope you got some near the lows.
The dollar if it continues to strengthen then $14 gets broken soon. As recent as June 16th MRO was under $12.50 that day and closed at $12.67 I think if markets continue to act like today it get's there before the end of June. One problem with that is that firms are tripping over each other to up targets on so many energy stocks just look at BMO today they upped the target by a third even after they saw the Brexit and the dollar get strong overnight.
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