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
23,428 Blog Posts

BURN IN HELL: OIL IS RUNNING LIKE A MAD LION NOW

Everyone shut the fuck up I have an announcement to make.

I BOUGHT MOAR SHARES OF SLCA, SN AND ECR.

If you like the bloggy, you’re gonna love my Twitter account, if you’re not already following me. Thanks to The PPT, I was able to make this prescient call last night.

OIL

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23 comments

  1. thegametheorist

    wow i fucking sold my UWTI held for three weeks yesterday. FUCK

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  2. ecchymosis

    I know the feeling – I was going to buy it after I took a walk-DOH!

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  3. gappingandyapping
    gappingandyapping

    Allah willing this will murder these fucking oil bears. One more day like this would be highly appreciated.

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  4. og

    Will I get rich if I buy UCO?

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  5. pyromonoxide

    Nice! Grabbed some ECR after you mentioned it and its working! Also grabbed some HABT and a few biotechs. Loaded up a bit today after letting my account cool down a while from the meat grinding carnage of the last few months.

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  6. J Adabese (your pen pal)
    J Adabese (your pen pal)

    BOT UWTI and SN. Following the way of Le Fly. This could be the biggest deal he has served up yet.

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  7. pyromonoxide

    Cash, get off your lazy ass and get back to work.

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  8. budh

    It’s time to go the other way on that deal now.

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  9. J Adabese (your pen pal)
    J Adabese (your pen pal)

    The pain is spreading in the US oil patch.

    The number of US drilling rigs probing for oil this week shrank at the fastest pace since 1987, according to new data, triggering a spike in the price of crude, reports Gregory Meyer in New York.

    Baker Hughes, the oilfield services company, said 1,223 oil rigs were working in the week, down by 94 from the prior week and off 386, or 24 per cent, from a peak notched last October.

    Analysts have taken to watching rig count data for signs that high-cost shale producers are cutting back in the face of low prices.

    The US Energy Information Administration expects domestic onshore production to keep climbing to 7.4m barrels per day in May, then slip gently as low prices force a retreat.

    After the data were released, Nymex March West Texas Intermediate crude rose 4.6 per cent to $46.65 per barrel.

    http://www.ft.com/fastft/270602/oil-jumps-falling-rig-count-give-hope-slower-production

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  10. boyaj

    Once I’ve step back and realize there truly is no way to predict the market in the very short term, at least in an objective way, the more I’ve come to utilize and appreciate the value of the PPT (no, Fly didn’t compensate me to say this).

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  11. snoozemr

    don’t get me wrong. i am accumulating oil (via OIL and USO) from 47 and down as low as it goes. But today is also a lot of short covering into the weekend. Crazy not to take some profits today if you are acculating WTI. Unrelated, stopped listening to CNBC at 1 EST but 3 hours of babbling about SHAK and not a word about ONCE – which not only was also a moonshot but to this point has been trading up right to left all day – unlike SHAK which has been sidewasy since the open. I am out of ONCE (I think :- ) ) but what a day for trading that ticker and what a year for smallcap biotech

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  12. vampyr

    Dear Dr. Fly, WMT looks like a good buy here.

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    • snoozemr

      gotta admit i thought that was tongue in cheek when i first read that the other day.

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      • vampyr

        Yikes! Maybe Monsieur Fly was being facetious. But I do what I do and today I am buying WMT.

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