There is nothing better than waking up from 2 hours night sleep to see Europe down 1.5% and US futures off by 100. It warms my heart to know that short sellers around the country will be enjoying this holiday season over large servings of human kidneys and livers.
2014 will be remembered as the year when oil crashed. Nothing else will overshadow it and that’s just how it is. The great American oil boom is essentially over. The price of crude has fallen well below ‘worst case scenarios’, so much so that triple collared hedges from the likes of PXD are now under-water.
The oddity in the oil collapse is the gross incompetence of OPEC. Sure, perhaps there is something political taking place here. And, yes, they will effectively destroy the burgeoning fracking industry. But at what cost? Not doing anything here, with oil down 45% from its highs, is equal to our Federal Reserve watching the market get cut in half and do nothing about it.
We’re all so cynical about it. Most people believe there is some underhanded deals taking place to bring down the price of oil. Can we stop with the fucking conspiracies already?
There isn’t a fundamental reason that would explain the precipitous drop in crude. Either we are being lied to about China’s growth prospects or this drop in crude is just another one of those financial fuck ups that will correct itself over the next 6 months.
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JPM, lead underwriter of GPRO, upgrades it ahead of 100 million share lockup Dec 23 … they will be shorting every share bought today .. what criminals
Another conspiracy. Shut up.
no conspiracy, fact. Although I just heard its only 13 million shares to add to the 12 mill from a couple months ago.
So it’s fact that JPM is shorting the stock ahead of the offering?
or lock-up, rather.
Come on.
If they have 100MM shares long then wouldn’t it just be called selling?
I remember a while ago GS downgraded TSLA and the stock tumbled like 10%+ in one day. It turned out there was an insane closing cross volume-wise a few days before the downgrade so people do use these upgrades/downgrades to their advantage.
I think that crude is finally mirroring the move in other commodities and maybe a recession is on the horizon. Of course the price will go back up eventually, just gotta time the entry right or start with maybe 1/4 position in some kind of oil play/derivative. People are cynical because, thanks to the internet, we all now know that politicians are much more underhanded and selfish than anybody thought in the pre-internet era. WMT just cut their China numbers due to borderline fraud so I think maybe 8% a year out of china might not happen every year like clockwork. I haven’t been super bearish since my top call during the long ago budget crisis proved wrong. I’ve said it before, there really needs to be some kind of default in either the Eurozone or shale plays before things really unwind. Also, nice about section!
Buy Guns! $SWHC
But you must admit! HUGGIEBEAR called the GoPro bottom last night!!!
Look for Crude to bounce today as well…heading back to $65.
Don’t jinx it. This stock always gaps up and then fucking melts into the ground.
Oil is going to $50 for the sole purpose of getting Russia to quiet down and stay home.
This however also carries a high potential of backfiring on those involved.
Just think through what we see happening……..when have the Saudis EVER stood idly by whilst their cash cow took a 50% hit?
Never.
Something else is going on out there in the dunes and weeds.
The Saudis have been told by the U.S. to let oil fall thru the basement. Why? To punish Vlad – economic warfare 101. Why would they cooperate? Easy, as a by product of punishing Vlad, they also get to beat the shit out of the fracking industry – which is collateral damage in the economic war. The U.S. is willing to let this happen because the average American won’t give a shit because gas will be cheap and that is the payoff to them. The Saudis have shitpiles of money and will take the hit to beat the shale boys. It ain’t that hard to see.
My fledgling stock picker career has ended after refusing to sell HCLP all the way down. I’m thinking zero is likely. Being stubborn isn’t always a positive characteristic, faux Livermore.
So $GS and the likes will be making a bundle on M and A activities as the energy/oil industry companies are forced to restructure
Sure they will and so? Since when has making money been something to whine about.
Get a clue…it’s called porfolio idea generation…$GS or any investment bank might be a tradeable buy at this levels
this rebound will be faded like yesterday..ppl want OUT after such a big rally
Things have changed for oil long term, just as it did in 2003, except in the opposite direction.
Why –
Lower prices on other forms of energy have enabled them to replace oil consumption to some degree.
High oil prices have encouraged users to invest in fuel efficiency.
It happened form the mid 70s to the 80’s and it’s happening again. These are secular trends in commodity prices and they run for long periods of time.
Oil was the last straw, it couldn’t ignore the crash in other commodity prices forever.
Anyone who is basing their business on $100 oil is toast.
no one really knows anything about oil all speculation at this point. . if i had to guess, in the long run it’s going back to $100 unless the economy enters a recession, in which case it’s going to $40 or lower. You still have the growth story from China and India