While looking at the absolute tragic events transpiring in the share prices of oil/gas stocks, a few things come to mind.
1. Some commodity focused hedge funds are being liquidated, amidst mammoth losses, causing share prices to exaggerate to the downside.
2. The share prices of oil/gas plays are telling us the economy sucks dick.
3. Oil is the new cancer.
Let’s not sugar coat this shit, shall we. I’ve been “de-cocked” in just about every single oil/gas stock this year, stemming from FTK to SD to GMXR and now ATPG. I am telling you now, I will not touch another single oil and gas stock for the rest of my life. That’s it. I am fucking done.
I’d rather play games with metal stocks, than fuck around with this shit. The industry is hated so much, you’d think the devil himself was running these companies. I am sure there is going to be terrific buying opportunities soon. After all, how low can WFT, BP, CAM, HAL, ATPG and RIG go?
ANSWER: All the way to fucking ZERO, I suppose.
With my money, I will be glad to recoup some of my HORRENDOUS losses from the stocks that I already own, sell them, then move on.
As an aside, the market is up, yet so is my FAZtard and VXX.
What does that tell you, fuckface?
NOTE: CDS spreads have been widening the fuck out on a multitude of financials, MET being one of them. Hence I am short the name.
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what happened to the time machine?
Try BGZ instead of FAZ. Less volatile same shit.
FAZ is a spaz attack. My real money is in VXX
Brace for a round of Euro bank write offs.
The triples are traders only. However I feel much more comfortable with BGU and BGZ than FAS or FAZ.
I wonder how t boone’s doing
more unrest in Mid East (Israel, etc) and offshore drilling halt……oil goes up, no?
No. We don’t get any oil from Israel, the Gaza strip, or most of the immediate countries surrounding it.
The majority of the oil you could expect to hurt us would come from Iran or some of the OPEC nations. However, if you look at their budgets, especially since oil is back below $80 a barrel, they can’t really afford to not sell us any oil, at the moment. Unless some other big oil exporter like Russia gets sympathetic and starts attacking the price of oil on their behalf (they won’t) then oil shouldn’t be to affected by this nonsense unless a large scale war breaks out.
Maybe not even then.
As for the drilling halt, maybe, long term, but it isn’t affecting supply in the immediate timeframe. It depends on whether exceptions continue to be granted or if the moratorium is held without exception.
Right now, there’s bigger stuff afoot, like a potential slowing of the Chinese industrial sector.
So you’re out of FTK???
Just wait till a Cat 5 storm barrels its way into the Gulf. You’ll be drinking the tea again.
I am looking at you USA for being soooo stupid. WHY WHY WHY did you let WTI,etc move over to ICE to be traded crazy by the speculators that didn’t have the safety net NyMEX has. At this point Supply and Demand has no connection and we will sooner or later get into balance when all those Speculators have to panic and sell their Floating Tankers for a loss….they deserve it imho.
The straw that broke the oil rigs back? Will we look back on this time 25 years from now (god willing) and say that this was when, after 30 years of knowing this shit and doing nothing, we seriously shifted away from crude?
I don’t think so. I think it’s just a failure of government to properly regulate and some idiots that thought they could suspend the laws of physics and the practice of good engineering to save a couple of bux.
All our plastic crap is made of petroleum.
The keyboard im typing on, the screen youre looking at, and Tim Seymour’s human mask.
We cant stop using petroleum.
We have nowhere else to go.
http://www.youtube.com/watch?v=HiIZLDeMOg0
We can use half as much per person as we currently do and still enjoy keyboards, etc. …just like other advanced countries do. Simply tax oil to reflect the full cost of its acquisition and use, and we will use a lot less of it. Right now, we happily burn the stuff and shift the cost of our party to future generations.
(Note to Jake – cost shifting is socialist.)
I doubt it but an quick ecological disaster would be worth it instead a slow ecological disaster going on for ever.
I just got some dope new hydraulics on my lowered FAZmobile .
Cheech -OUT!
Price of burlap plunging!
http://www.bloomberg.com/apps/news?pid=20601010&sid=ah2J6aeiJ.fI
I am getting a bespoke burlap suit.
Fly,
Is there a place for an ordinary Joe to track CDS in the PPT?
I posted a summary in blog section.
Many thanks – that’s what got my eye. I am now looking to take it a bit further to see if that research can be done by individuals such as myself, or does one need to be a big-dicked money runner?
Faz Mobile; Hugh Hendry edition.
The action at the close has been very weak. We occasionally have a bonfire of the shorts but most other times, it’s just a miserable tape into the close.
I don’t remember a “normal” close in weeks.
HERE WE GO, FUCKFACES!!!!!!!!!!!!!!!!!!!!
what, you mean you aren’t goin long erx?, the “faztarded” etf of the oil world?
Please park my FAZmobile while Michael VXX and I are in the bank, making large deposits.
It is unbelievable, how much more money I could have made continuing to short BHI than how much money I had already made shorting BHI.
Both sums are daunting.
But seriously, the pessimism right now is not justifiable. Shit is bad; but it is not “apocalyptico” bad.
Bought TZA @ 6.86 earlier today, currently @ 7.43 up 8% today
Fly, When do I get my Tiara????? And a renaming of Princess of the Peanut Gallery????
Everyone should do themselves a favor tonight and tour around the world and see what the front page of major newspapers have for news. American news outlets do not report much of the news. Politics matter and the attitude on the streets of each country matter to politicians in each country.
Wonder why the early rally faded? Do the above.
I bank coin, and my lube of choice is VXX. (TM pending)
Stay thirsty, my friends…
The government is now going criminal against BP. There’s no way they’re going to let these clowns alive. Plus, it’ll be at least 2 months before there’s a chance of stopping the leak. BP is finished. Bankruptcy looks pretty obvious to me.
That is a fairly large proclamation, considering the company is British and has assets that are untouchable by the U.S. government. The only way this goes is if the U.K. lies down and lets us wipe them out. Given the tax revenue that represents, I’m going to say you’re overreacting a little here.
BP is dead, like the death of 19387493874 GOM animals
( count in also plancton and sea-everything-alive that’s eventually dyin’ in for years ………. )
Fly. Is the nuclear option going to creep into this catastrophe?