I was posting the past few days to watch for a possible inventory build and CLR is down near $5 from $48 plus in the last two days. I think the momentum of the oil trade has flipped and we could see a retest of the $42 area again. I'll be watching for the $40 area on CLR to start getting back in.
He said the nuclear plant may be delayed by 3 years. Was any of that priced into SO's share price already? This appears to be a sell on the news. This story came out last week which made the stock drop from the highs. I think it may be overdone here but we'll find out I guess.
Yeah tell me about it....SO came out with a statement on delays on the nuclear project. This came out last week which hit shares but now it appears it could be up to three years.
It didn't help draw down inventory yesterday. I'm in NY and a lot of the NE uses natural gas these days including my home. Other that traders having fun with the price of oil there should be very few new reasons why oil is up over $3 today. I still believe oil retests that $42-$43 area when fundamentals kick in if they do actually do. If it gets there I hope CLR is around or under $40 then I will load up the boat but I will be patient.
Man these traders can play games and the silly part is the market is now pulling back now. The machines are still running the show and the averages are tied to the oil trade it is still that simple.
First of all why but besides that why is CLR flat? Could we have found a temporary top on the entire oil trade for now? I think next weeks inventory numbers will be a tipping point for the next direction of oil.
It did not show up in the jobs number. All the government numbers are BS to please politicians and markets. The CPI is the best we have negative inflation lately according to the CPI. There are no expenses in my home that have gone down except gasoline and they will that I'm sure by year's end.
I shorted $8.50 in the after hours and covered today missed that bottom here to buy I was watching other stocks but I agree they will be issuing stock and using cash this is another huge debt load along with the huge debt to cash ratio they have currently. Watch for a possible dividend cut down the line if they start having trouble servicing all this debt. I cannot believe that they got three upgrades above the 52 week high this morning.
The 10 year moves .20 basis points this week and they sell SO and utilities like they have the plaque. SO had very good numbers but the delay on the nuclear construction definitely hurt. This is what happened in 2014 then the shares rebounded for utilities. Rates are still going lower despite what happened this week. SO will be back over $50 within a week I believe.
This is down about 10% in a very short period of time. The wonder of the HFT's can move and make anything overshoot in any direction. If you look closely today the traders/investors who ran these up and still have profits are selling and the buyers are not there.