iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,426 Blog Posts

THE OIL TRADE IS NOW IN PANIC MODE

Ok, oil has been dropping, and as a result, the sector has been lit aflame and tossed by the side of the road. But it’s more than that. This rout is causing panic in a wide array of areas.

Look at fracking sand companies: SLCA, EMES and HCLP.

Look at the rails, god damn it: ARII, GBX and TRN.

Look at shipping: DRYS, BALT, GLNG, CPLP and SALT.

Even airlines are getting clobbered. Perhaps their hedges are now hurting them? SAVE, RJET and ALGT.

The only sectors that are behaving are wine/alcohol, REITs and utilities.

Over the past month, over 1,300 stocks are down more than 10%, while just 220 are up 10%.

This market is dreadful. It is following the path of 2000. Damn it, I was right and now we’re all gonna die.

NOTE: I think the market is a buy…on Friday.

Still 30% cash. Largest holding is ETR.

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43 comments

  1. GEORGE CLOONEY

    could be worse (extra ARWR)

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  2. duckkell

    in BALT up to my eyeballz…

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  3. Billy Cutting

    like STZ if it can hold 85 through all of this carnage

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  4. And its gone!

    Vix matches its high of 18 from 10/02 but can’t get past it…First bullish sign I see today

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  5. djmarcus

    Liquor stocks doing so well because of all that revenue I’m sending their way this weekend. I’m long like a quarter of the stocks you mentioned, plus more…

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  6. Randomness

    Its about time. Oil price was with everything else held up by the who the hell knows. The GREAT RECESSION and still at 100 was unrealistic. If it gets to 40 would be great and unmolested by the fed and powers that be.

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  7. Bruce Keller

    I hope no one faded my PCLN puts purchase from Monday’s open. 🙁

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    • Garys Closed Fist
      Garys Closed Fist

      Nobody gives enough fucks about you to fade or follow anything you do. Your trades, like your life, suck.

      Isn’t there a highway you need to go run around on or a short pier you need to take long walk off of?

      Blech, be gone already.

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      • Bruce Keller

        You’re very angry for not giving a fuck.

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        • Garys Closed Fist
          Garys Closed Fist

          No. You are just very annoying. Please forgive me though; now do tell all of us about your 2 shares short of PCLN. It is of earth shattering importance that we all have this news thrust upon us.

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  8. traderconfessions
    traderconfessions

    In these times go to retail.. RL

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  9. xxxHuggieBearxxx D.P.M
    xxxHuggieBearxxx D.P.M

    I am back long again….looking for a double bottom. My thesis is still intact, which is that we run into earnings.

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  10. Trent

    Short AAPL. Here.

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  11. Louis

    So you look at Friday as a very short term lift?

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  12. smurfs

    fed meeting minutes are going to be fun. Could see the shorts getting fried. The fed under Bernanke loved to do that to the bears.

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  13. tau

    Seasonality is terrible for Crude this time of year. Maybe there will be some good bargains in some of those names come January

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  14. And its gone!

    I have to buy Mcdermott (MDR) when its down 9% in one day after already down 42% YTD…seasonality or no seasonality

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  15. Mr Nobody

    Question: Could we (U.S.A.) be releasing oil from the SPR to fuck with Putin?

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  16. #BTFD

    Fed’s here, party’s on!

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  17. Zuul

    I hope you are not posting because you are buying extreme prejudice

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  18. xxxHuggieBearxxx D.P.M
    xxxHuggieBearxxx D.P.M

    THIS IS WHAT YOU CALL STEADY PIMPIN…..DONT YOU EVER DOUBT ME.

    made all of yesterdays losses back and now letting ’em run. GIT IT.

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    • And its gone!

      Its nice to be reminded what the color green looks like, isn’t it

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      • xxxHuggieBearxxx D.P.M
        xxxHuggieBearxxx D.P.M

        Yes it is, yes it is…..yesterday hurt but i had confidence this reversal was coming… we should run through next week.

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  19. J Livermore

    Lucky you dumped ARWR boss man.

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  20. Back to Normal

    http://youtu.be/LpFX_E3Q0LA?t=20s

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  21. Danny1980

    FLY you getting back in! The FED induced cocaine party is back on let’s go do blow off a strippers ass

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  22. Danny1980

    Everyone go your mom some ALNY shares she’ll love you for it

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  23. runawaytrain

    Yellen for another round of fed coke!

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