The pressure on crude has led to this: full scale liquidation of the commodity space. Names like SLCA, EMES and PTEN have been getting bludgeoned to death. A whole slew of oil and gas stocks are off by 7%+ today, which is totally nonsensical given the price of crude. Nonetheless, this is just one of the many hurdles one must jump when investing.
People leverage up their accounts and are forced to sell when the idea doesn’t work out. If you are in a position to buy the liquidation, you stand to make a great deal of money. The problem with buying a dip in a name like SLCA and EMES, both of which I am long, is you don’t know how low it can go. Right now they aren’t trading on fundies, only supply versus demand. Clearly, the supply is very high and demand is nowhere to be found. I am not buying because I’d rather buy it when it upticks, instead of knife catching.
But, as a long, I cannot sell into this rabble, this perverted distortion of speculation.
Unless we’ve figured out how to harness the sun and replace the gasoline powered engine on a large scale, oil will always have a bid.
The one exception would be in the event of a credit meltdown, a la 2008.
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my face for the past 2 weeks
http://i.imgur.com/T7diwAw.jpg?1
Oil prices are discounting a massive culling of the herd via EBOLA. Makes total sense to me.
My immune system has fists the size of semi trucks capable of annihilating all threats, ebola included. Bring it.
monster selloff…i am being decimated.
please go short so the market goes higher
TSLA
UNKLE
I am enjoying my BHI position today.
Haha, got in it too a couple days ago. The play is an investment, not trade.
I will likely hold for a while. $65 cost
learn to trade people. long only is boring and passe
There’s a lot of complacency The best trade was grabbing some TVIX sub 3 as a hedge if you are long only equities. Fly made the right call with utes and treasuries. Timing is a bitch.
TVIX? Oh lord.
Your ego will be your down fall.
I’ve fallen on my ego many times. I’m 31 years old and I’ve been trading for 13 of those years. As a certified asshole with too many battle wounds to count, I don’t claim to be better or worse than anyone at this game.
It took me 4 years to realize that having a permanent bias is an account drain. Homework, flexibility, and the ability to change my opinion quickly have made me successful.
“Homework, flexibility, and the ability to change my opinion quickly” is a long winded phrase for luck. Don’t forget that
Fly, do you feel the pain?
Spring fiasco redux?
not nearly as bad.
stair step to the upside is being met with elevator to the downside…
the problem here is everybody is expecting a bounce using their “mean reversion” methods.
well, the market likes to make fool of the majority
If we don’t bounce, you die.
today is POMO day so there is a possibility that we bounce to “UNCHANGE” for the day…. 🙂
“The one exception would be in the event of a credit meltdown, a la 2008.”
Expect it Monday as I have been saying
The lower it goes, the happier my 50 year old self will be. Bleed on
best trade today is sitting on one’s hands.
Suggest you change your slogan from
“I win a lot”
to
“I win a lot but when I lose, I lose big”
BANNED
The only green I see in the oil and gas sector bloodbath is DO…many agreat company on sale, but how lone does the sale continue? A lot of names in my long-term portfolio getting plastered. Will be loading up once the smoke clears.
Social media stocks holding up nicely today.
My ENPH position is doing well today……not.
Fly, a picture of an oversized primate having its way with the rally monkey is in order…for old times sake.