Tesla Motors has struggled to inspire investor confidence, said trader Steve Grasso. Tesla stock closed nearly nearly 2 percent higher around $207 per share on Thursday, a level that he said isn't appealing.
"I think the competition is extreme for them. It's lost its mojo. I would stay out of the name," Grasso said.
Sentiment: Strong Sell
Tesla — a crony-capitalist con job that has long been insolvent and has survived only by dint of prodigious taxpayer subsidies.
Sentiment: Strong Sell
Wouldn't it be just a little bit more productive to pick a stock that has a chart that moves upward from left to right and that has a balance sheet where the liabilities aren't almost equal to the assets???
"Nothing to see here, they're just treading water"
Isn't that the truth. Talk about dead money and lost forgone opportunities. You're going to have to wait until early summer to see how the storage inventory numbers are shaping up and look at the gas rig counts to get a feel for the next cycle. My boring old solid JPM sure is looking better every day.
Oh...I don't know, I was thinking maybe something like Quicksilver Resources lower. LMFAO
Wilbur and the board obviously doesn't tell those Jimmy Bobs in Dallas anything about their new CEO search.
Wouldn't it be better to at least wait until after the downgrades are posted before jumping in to lose money here?
Only because of favorable hedging. In the future who will be willing and what will be the cost that XCO will have to pay to find somebody willing to take the other side of their hedging bet next time?
T Boone and others underestimated the stupidity of all those tree hugging, Toyota Prius driving liberals in the White House and previous US senate during Al Gore's global warming fad years.
Sure, if Wilbur injects new capital of his own money or they sell off the Marcellus for example. The big wigs average cost is much much higher than yours. They don't want to lose their shirts. Still, it pains me to think about your situation. How many shares are we talking about?
With oil and gas production they just don't shut in wells that are currently producing, they just let it flow. It's like owning dairy cows and the price of milk if far below production costs. They don't stop milking the cows everyday, they continue on trying to get as much money out regardless of the price. That's the problem, all the producers are still pumping like crazy.
To answer your question, yes, I'm sure you will be able to get your money back next fall, but it's going to get ugly. Don't wait for $3.99, take some pain and bailout anywhere $3.50 and above if given the opportunity.
Try and get out before the close on Tuesday. Even with all their hedging XCO is selling their oil and gas at a loss. Time is not on their side. The fact that nat. gas can't break above $3 during the coldest winter the North East has seen since the late 1800's should speak volumes to you. Expect gas prices to fall to $2.20 during the big thaw in March. If you need to play nat. gas jump into SWN this spring when everybody traditionally dumps energy. The shorts slow but steady covering is giving XCO an false illusion of stability. They have to cover and get out now because there won't be enough large sellers for them to buy to cover when XCO is below $1. They can't all wait until the last minute to rush out the door at once to cover.
I may have lost up to a total of $2,000 over the years trying to own XCO at numerous times swing trading. I'd like to make money here but it's virtually impossible as long as nat. gas remains under $4. XCO is the sort of an old fashion pre fracking dry gas producer that did well with gas prices above $5 and they had the world to themselves. Now with so much cheap Marcellus and Utica production from producers like CHK, XCO can't remain profitable with so much competition. It's the same story with Sandridge Energy (SD). They both tried to get out of gas and into oil too late in the game and then they both overpaid for new oil leases. (The Mississippian play is really unprofitable). Now they are simply bloated with debt. Both companies had terrible CEO's and both have blinded large value investors like Wilbur & Lee Cooperman and Prem Watsa who didn't really keep track of rising nat. gas storage inventories over the years like they should have. I don't see a turn around scenario anywhere. Another year like the last one and it may be too late to save XCO.
I seriously doubt if we will be hearing from Neil anytime soon. Playing around with XCO somehow hasn't really worked out too well for him or his wallet. I think he finally sees the light.
btw Juan, did you ever entertain the Charter Communications Yahoo board years ago before the old Paul Allen (CHTR) went bankrupt?
Which one of you losers complained to Dan Dicker whining about being stuck in XCO??? lol
"The way things are trading it may be another nine months before natural gas is worth mentioning again".
The KKR deal is now small potatoes. Throw it on the ash heap of more bad luck along with the failed Marcellus deal. XCO rudderless and adrift. Just because the shorts are covering now is not a safe sign for retail to get all excited. After all, the shorts can't all wait until XCO gets down to 50 cents before they all try to cover and exit at once. XCO would had been priced down to $2.50 even if oil stayed at $100. XCO is expected to lose 18 cents this year and a lot more the following year.
I must say, it's very honorable and commendable of you to stick it out till the very end going down with your ship. Good show!!