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re: Oil stocks...are you buying?
Posted on 3/1/16 at 5:06 pm to TigerTatorTots
Posted on 3/1/16 at 5:06 pm to TigerTatorTots
Seadrill Ltd forms bullish "Double Bottom" chart pattern
02/29/2016
Recognia has detected a "Double Bottom" chart pattern formed on Seadrill Ltd (SDRL on NYSE). This bullish signal indicates that the price may rise from the close of 2.24 to the range of 2.27 - 2.35. The pattern formed over 15 days which is roughly the period of time in which the target price range may be achieved.
Seadrill Ltd has a current support price of 1.82 and a resistance level of 2.36.
A Double Bottom is considered a bullish signal, indicating a possible reversal of the current downtrend to a new uptrend. Sometimes called a "W" formation because of the pattern it creates on the chart, a Double Bottom consists of two well-defined, sharp troughs at approximately the same price level. The technical event occurs when prices break out above the highest high of the formation, which confirms the pattern.
Not that I believe the above mombo jumbo but....
Here is a fairly positive statement by the CEO from last week.
SDRL - Seadrill Limited Announces Fourth Quarter 2015 Results
BY Hugin
— 2:01 AM ET 02/25/2016
Highlights
* Revenue of $959 million
* EBITDA of $513 million
* 93% economic utilization
* Reported Net Income of $279 million and diluted earnings per share of $0.58
* Cash and cash equivalents of $1.04 billion
* The Seadrill Group achieved 95% economic utilization
* Seadrill Group orderbacklog of approximately $10.7 billion
Commenting today, Per Wullf, CEO and President of Seadrill Management Ltd., said:
"During the fourth quarter we experienced our best operational quarter of the year, while continuing to reduce our cost base. Safe and efficient operations remain at the heart of what we do as we continue to drive down costs.
In the face of the severe downturn in our industry our priorities for 2016 are to conserve cash and address our financing needs. We have a modern competitive fleet, a proven track record in operations and every intention to position ourselves for a recovery in the sector.
Our 2016 liquidity is good and we aim to communicate our funding plans during the first half of the year."
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act
02/29/2016
Recognia has detected a "Double Bottom" chart pattern formed on Seadrill Ltd (SDRL on NYSE). This bullish signal indicates that the price may rise from the close of 2.24 to the range of 2.27 - 2.35. The pattern formed over 15 days which is roughly the period of time in which the target price range may be achieved.
Seadrill Ltd has a current support price of 1.82 and a resistance level of 2.36.
A Double Bottom is considered a bullish signal, indicating a possible reversal of the current downtrend to a new uptrend. Sometimes called a "W" formation because of the pattern it creates on the chart, a Double Bottom consists of two well-defined, sharp troughs at approximately the same price level. The technical event occurs when prices break out above the highest high of the formation, which confirms the pattern.
Not that I believe the above mombo jumbo but....
Here is a fairly positive statement by the CEO from last week.
SDRL - Seadrill Limited Announces Fourth Quarter 2015 Results
BY Hugin
— 2:01 AM ET 02/25/2016
Highlights
* Revenue of $959 million
* EBITDA of $513 million
* 93% economic utilization
* Reported Net Income of $279 million and diluted earnings per share of $0.58
* Cash and cash equivalents of $1.04 billion
* The Seadrill Group achieved 95% economic utilization
* Seadrill Group orderbacklog of approximately $10.7 billion
Commenting today, Per Wullf, CEO and President of Seadrill Management Ltd., said:
"During the fourth quarter we experienced our best operational quarter of the year, while continuing to reduce our cost base. Safe and efficient operations remain at the heart of what we do as we continue to drive down costs.
In the face of the severe downturn in our industry our priorities for 2016 are to conserve cash and address our financing needs. We have a modern competitive fleet, a proven track record in operations and every intention to position ourselves for a recovery in the sector.
Our 2016 liquidity is good and we aim to communicate our funding plans during the first half of the year."
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act
1
Posted on 3/2/16 at 10:42 am to PlanoPrivateer
I've been looking at SDRL for a few months now but I think I'm going to hold off.
Any opinions on SGY?
Any opinions on SGY?
Posted on 3/2/16 at 10:58 am to dkreller
I'm in at $4.90 and thinking about pulling the trigger on some more. Their last filing was pretty disturbing, but I think they are sitting on some good fields and once things get back in the $40's I think they will be fine.
It finally looks like some dominoes are starting to fall that will push oil higher. If it gets above $35 and hangs there, I'll really start to feel bullish.
It finally looks like some dominoes are starting to fall that will push oil higher. If it gets above $35 and hangs there, I'll really start to feel bullish.
Posted on 3/2/16 at 11:37 am to TJG210
I currently have some VTMSX stock, should I pull some away from that and throw alittle bit at oil since its low?
Posted on 3/2/16 at 1:53 pm to sonoma8
Just buy some major oil company and keep your index fund as is.
Posted on 3/2/16 at 2:55 pm to Iowa Golfer
Iowa, do you have an opinion on sgy? I enjoy your posts on here and seem very knowledgeable. I'm already invested heavily in one of the majors, but want something with a little higher upside.
Posted on 3/2/16 at 3:01 pm to Iowa Golfer
I made a few bucks trading in and out of Hornbeck, been too busy since beginning of the year and stepped out. Saw the bottom mid-Feb and just didn't have the capital in my brokerage account to act. Missed the hell out of that opportunity.
Posted on 3/2/16 at 3:04 pm to tes fou
Gunna get rich off UWTI 
Bought it for fun down at 1.30, let's see where it goes.
XOM, and Chev are the other I've bought. Don't pretty darn well buying when oil was at 25-26. It feels like we're getting out of the sub 30 freak show.
Bought it for fun down at 1.30, let's see where it goes. XOM, and Chev are the other I've bought. Don't pretty darn well buying when oil was at 25-26. It feels like we're getting out of the sub 30 freak show.
This post was edited on 3/2/16 at 3:05 pm
Posted on 3/2/16 at 3:46 pm to TJG210
Sorry, I know nothing about this company. The two stocks I hold in the energy sector that are part of my speculative plays are PWE and ERN. My buy and forget energy sector largest holding is CVX. Some other assorted smaller positions, and whatever I own inside of BRK and funds, which I don't keep track of.
My only real lesson going forward from all of this is rather than buy VIX calls to insure a portion of my portfolio, I'm going to try to buy specific insurance on specific sectors. For energy probably OVX, and then less general VIX, etc.
The energy downfall hasn't really hurt me. I sold some ERN, probably too early, to recoup my original investment. I haven't sold anything else, and actually the VIX calls have more than paid for themselves.
I'm really not doing much trading, and haven't for quite a while now. I opened up a long/short pair trade on Boeing/Lockheed, and I sold some puts on SLV. The put sale has a target short term income generation target and a conditional hidden stop. The Boeing/Lockheed is a couple of contracts to play around with. I traded around the last China "crisis". I might trade around the Fed announcements. Usually options, and hopefully closed before the end of the day. When the weather gets nicer, I'll hardly look at all. I'd rather get done what needs to get done, and go fishing or golfing.
My only real lesson going forward from all of this is rather than buy VIX calls to insure a portion of my portfolio, I'm going to try to buy specific insurance on specific sectors. For energy probably OVX, and then less general VIX, etc.
The energy downfall hasn't really hurt me. I sold some ERN, probably too early, to recoup my original investment. I haven't sold anything else, and actually the VIX calls have more than paid for themselves.
I'm really not doing much trading, and haven't for quite a while now. I opened up a long/short pair trade on Boeing/Lockheed, and I sold some puts on SLV. The put sale has a target short term income generation target and a conditional hidden stop. The Boeing/Lockheed is a couple of contracts to play around with. I traded around the last China "crisis". I might trade around the Fed announcements. Usually options, and hopefully closed before the end of the day. When the weather gets nicer, I'll hardly look at all. I'd rather get done what needs to get done, and go fishing or golfing.
Posted on 3/3/16 at 9:15 am to Iowa Golfer
Stone Energy up almost 40% in last 2 days.
COP was a good buy at $32.50. Up to $37 at the moment.
COP was a good buy at $32.50. Up to $37 at the moment.
Posted on 3/3/16 at 9:17 am to LSUAfro
Yeah I'm kicking myself for not buying SGY
Posted on 3/3/16 at 10:06 am to LSUAfro
quote:
Stone Energy up almost 40% in last 2 days.
Bought in at 1.55
But yeah everything is kicking arse the past couple days.
Posted on 3/3/16 at 10:09 am to Brettesaurus Rex
quote:
Bought in at 1.55
I didn't have the kawhonays to jump on that ship.
Posted on 3/3/16 at 1:01 pm to LSUneaux
COP shares are popping!!! Woohoo!!!
Posted on 3/3/16 at 1:19 pm to LSUneaux
quote:
COP shares are popping!!! Woohoo!!!
yep.
cue the troll with the Bernanke avatar who said buying more of this was doubling down on a bad investment or some verbal diarrhea like that.
Posted on 3/3/16 at 1:25 pm to Fat Bastard
We have had like 4 positive days in a row, so I may sell today in case we are red tomorrow.
Posted on 3/3/16 at 1:49 pm to LSUneaux
I thought you were a long term investor?
Posted on 3/3/16 at 1:56 pm to TigerTatorTots
I have some COP shares I trade, and some I never touch.
Posted on 3/4/16 at 8:43 am to LSUneaux
SDRL up 20% today
ETA: *up 45%
quote:
Seadrill Ltd., the offshore driller with the heaviest debt load, rose the most in more than seven years as investors covered short bets after the company’s main owner, billionaire John Fredriksen, freed up $510 million in cash, fueling speculation of a bailout.
ETA: *up 45%
This post was edited on 3/4/16 at 10:06 am
Posted on 3/4/16 at 9:21 am to Grits N Shrimp
I bought 500 shares yesterday :yay:
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