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Started By
Message
re: Oil stocks...are you buying?
Posted on 7/29/16 at 12:33 pm to bayoubengals88
Posted on 7/29/16 at 12:33 pm to bayoubengals88
If COP goes back under 40 i'm buying more yet again.
I'm good with the shares of RDSB and A i have for now.
I'm good with the shares of RDSB and A i have for now.
2
Posted on 7/29/16 at 12:43 pm to Fat Bastard
If XOM gets back under $85 then I might buy a little more.
Posted on 7/29/16 at 1:24 pm to Crazy4OU
XOM Just posted worst earnings since 1999 I think?
I was very long VGENX but bailed around $50/barrel oil. Surprisingly VDE/VGENX haven't really fallen that much in comparison to the drop in oil.
We had a absolutely shitty driving season this summer and still have record stockpiles. Demand just isn't very strong. To pile on the bad news, we are starting to see an uptick in rigs coming back online. Most likely from the most recent climb back up to $50. It's just hard to be long oil companies at these valuations IMO.
Only thing keeping the stock prices stable is the yields IMO. Most have plenty of cash to continue paying the dividend, so why not I guess. Not a bad long term buy probably, but they should be trading lower.
CVX posted a surprise loss and is up .25%
I was very long VGENX but bailed around $50/barrel oil. Surprisingly VDE/VGENX haven't really fallen that much in comparison to the drop in oil.
We had a absolutely shitty driving season this summer and still have record stockpiles. Demand just isn't very strong. To pile on the bad news, we are starting to see an uptick in rigs coming back online. Most likely from the most recent climb back up to $50. It's just hard to be long oil companies at these valuations IMO.
Only thing keeping the stock prices stable is the yields IMO. Most have plenty of cash to continue paying the dividend, so why not I guess. Not a bad long term buy probably, but they should be trading lower.
CVX posted a surprise loss and is up .25%
Posted on 7/29/16 at 2:55 pm to TigerDeBaiter
If USO can dip back down below 9 I'll pick up some shares and ride it to 11 or so.
Posted on 7/29/16 at 3:58 pm to vuvuzela
I think oil should have and will dip below $40. It was on track before we got that shitty GDP report and then suddenly we were off for the races, including oil. Probably in hope of more stimulus I suppose, like a crackhead scrambling for more drugs. Pretty pathetic.
Posted on 7/29/16 at 4:03 pm to Fat Bastard
I've been patiently waiting for sub 38 so I can buy back in
Posted on 7/29/16 at 7:05 pm to Old Sarge
Hey at least you made money last time. Nothing wrong with taking profits. I'm going to easily make 5 digit profits before its all over and I hit my price point and sell. I'm being patient. Posted on 7/30/16 at 9:21 am to LSUneaux
I play the etf ERX regularly and have been dabbling in RIG lately, I think the time is soon to load up(late August) after the correction. My technical analysis tells me it's gonna be a tough couple of weeks for the S&P coming up, I'm expecting a nice weekly drop this week, fwiw, just a warning
Posted on 7/30/16 at 9:34 am to LSUneaux
No.. I'm not an idiot.
I'm investing in future energy. Solar etc
I'm investing in future energy. Solar etc
Posted on 7/30/16 at 11:44 am to bayoubengals88
quote:
WTI is back to $41 after spending some time above $50. That seems alarming.
Anyone have any predictions? What happened? Did companies start drilling as soon as it hit $45 and $50 on the way up??
Boom and bust cycles. There is a lot of large production projects being completed this year and next. These were already funded. Oil production is very inelastic. It typically takes a long time to come on line and once it's out of the ground, its here. We have massive storage of oil right now. All of that is why the price started dipping last year. Its recovered a bit this year due to speculation. Rig counts dropped tremendously. Nigeria production was reduced due to rebel activity. Alberta oils sands production was reduced due to massive wild fire.
IMO, the pain didn't last long enough. I think oil is going back down again. Wouldn't be surprised to it test the lows of last year. LINK
Posted on 7/30/16 at 11:58 am to C
Got in BP at 35
Looking forward to that dividend
Looking forward to that dividend
Posted on 7/30/16 at 12:08 pm to rocket31
quote:
No.. I'm not an idiot.
just an economic idiot right bernie bot?
Posted on 7/30/16 at 12:18 pm to C
I wouldnt be buying anything in oil right now. I am expecting a dip back into the 30s later this year.
Posted on 8/1/16 at 11:04 am to KeyserSoze999
Oil tanking. Again.
Nothing seems to be able to stop the market madness though. I guess when you have the BOJ outright doubling down on directly buying stocks (ETFs) it's not too suprising. Crazy times.
Nothing seems to be able to stop the market madness though. I guess when you have the BOJ outright doubling down on directly buying stocks (ETFs) it's not too suprising. Crazy times.
Posted on 8/1/16 at 11:32 am to TigerDeBaiter
oil about to get a 30 handle, markets will follow, if the jobs number is bad on Friday, look out below
Posted on 8/1/16 at 11:51 am to notiger1997
quote:
LOL
me currently.
LOL at oil goons, its not the 1960s
Posted on 8/1/16 at 12:06 pm to TigerDeBaiter
What's everyones thoughts on APC (Anadarko). $52 dollars today. They have been doing a ton of drilling over the last few years in the gulf. Taking advantage of cheap drilling cost
Posted on 8/1/16 at 2:16 pm to rocket31
quote:
LOL at oil goons, its not the 1960s
which proves how stupid you really are. I'm not going to explain it all and it shows you weren't following those major oil stocks not long ago or their dividends.
head on back to the OT/cesspool kid and stay in the shallow waters.
Posted on 8/1/16 at 3:50 pm to Fat Bastard
If you think that the inability of oil to stay at $50+ for terribly long is not at least slightly concerning, you're more delusional than I thought.
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