Oil now has a $57 handle. I hereby fire all workers in Texas and North Dakota oil properties. Your lands will become dust bowls and your stupid little towns are going to rust. After you lose your jobs and start your new careers as WMT stock boys, taking 80% pay cuts, the large integrated oil conglomerates will buy up your properties and begin the process of jacking up the price of crude again.
Looking at previous oil busts, they usually last for a few years. However, everything else benefits. Look at today’s consumer sentiment numbers: fucking outrageously bullish.
Wade through this muck and keep tight leashes on your oil trades. I am sure they will bounce, violently, whenever the price of crude goes higher–if ever. But longer term, this economy wins, as 70% of it is based on the consumer. As much as you like oil, it only represents 12% of the economy, relegated to ultra-right winged folks in Texas and North Dakota. I am sure their prayers to the Lord will be answered and their careers saved, somehow or another. As you know, good things happen to good people.
Nonetheless, I have two main oil trades on now: SLCA and FMSA. I did buy OXY the other day; but that’s more of a long term hold.
One thing is for certain, if and when oil does start going back up again, there is going to be 300%+ winners all over the place. Bide your time and diversify your dumbass portfolios.
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Finally something you say makes sense. Death to oil. America and the West are consumer driven, so fuck the dust bowls and oil producers. Put money in the pockets of the proletariat and let them buy flat screens and vacations. Fusion power and fully electric vehicles are on the horizon, so the economy is going to have a paradigm shift and oil will go the way of the horse and buggy. Don’t weep for the oil man, buy stock in the fusion man.
Am I supposed to thank you for that backhanded insult?
How about we do this? At our next conference, come out, free of charge, and let me toss you into a fucking mack truck speeding down 5th avenue.
I thought you were far more of a gentleman. Pistols at dawn….well, not dawn as I am not a morning person…how about pistols in the mid afternoon, after a nice lunch and a good tequila?
Fine
Perfect. Loser pays.
Speed limit is now 25 mph in NYC. Suggest you toss him on the BQE.
still like the pipelines here over anything else if you are seeking oil related. LNG is interesting again but I’m holding off for now. Added to MLPI at 37.66. I also like, as a trade, WK right here @13.5/6 below the 14 IPO price. Although caveat emptor on that one for the risk adverse. I don’t plan on holding that one beyond next week.
Buy oil tankers. FRO, TNP NAO DHT NAT TNK
well at least you didn’t say by DRYS. Other than SFL and perhaps CQP, I wouldn’t touch anything tanker related with a pole. Floating widow makers. But at some point who knows. Just seems that there are such blunter knives to catch.
Don’t confuse dry bulk carriers with crude carriers. Apples and oranges. Crude tanker rates at multi-yr highs. Low oil means more charters to China and more companies holding oil in tankers while crude in contango
true, my bad. someone is surely buying FRO today. But talk a bout deja vu all over again. Tankers full of oil drifting endlessly throughout international waters. Too bad there are no pirate stocks.
Circle heads? Damn, that’s racialist.
They have circles on their heads. What’s racist about it?
LMFAO!
So do angels. Tis the season
That’s Prince Charles in the picture. BTW look how uncomfortable he looks.
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… good eye !
Didn’t notice Charles in the crowd !
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Prince Alaweed is getting down.
Bought SGY , HK , PDCE , and CIE for a bounce.
Fly, what about MBLY for a nice year-end bounce? I’m also buying more PXD and adding some eog here, if they bounce, these will bounce hard. What do you think?
I like MBLY. But they don’t do any business yet
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… your $PTRY is now UP + 27% since your mid-October blog post !
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looks like they are gonna crash the market in the final 90 minutes
Define “they.”
Idea for Le Fly:
You know I am always concerned about how Le Fly is feeling. It’s important to me because he is the creator of IBC which is an integral part of my daily routine and I love the site like a second home (no lie).
In the spirit of the holiday season, IBC should auction a “Lunch with Le Fly” with all net proceeds donated to St. Jude Hospital. Modeled after the lunch with Buffet, except for one thing twist. When the winner arrives at the site of the lunch, he or she must sign a dense agreement to never reveal the identity of Le Fly. Airfare and one night Hotel stay will be furnished along with the cost of the 1 hour lunch. Or maybe a raffle will work better to create more profit to donate.
Now that is a donation I would make. Money well spent.
What do you say Le Fly?? Working on this with the kids in that hospital on your mind will help you feel a hell of a lot better than sitting around watching stocks drip into the toilet.
Fuck off
No
load up on the calls. Sunday night intervention is coming
only thing coming at you Sunday night is Santa – and he’s carrying a big bag of dicks for you to choke on.
Ah, a nice cheery close for the week.
Oil is the red headed step child at the close of 2014, last year it was TLT. Take advantage of the tax loss selling. Buy the sh*t out of USO at the end of the year, have the patience of a monk and you my friend can say: iBankCoin