The trade is stacked the other way. Everyone with a series 7 is short euros, oil and long treasuries. Those people are about to get their hands and feet chopped off.
I speak in violent tones because you people only understand the fist and the boot, savages from foreign lands, regular Mike Huckabees.
No one is giving oil a shot here, even ahead of the Forbes 400 billionaire February watermarking, something the Prince from Saudi Arabia has bribed and manipulated his own stock in order to get into a better position for. This list means nothing to you, slack-jawed Neanderthals, persons dragging knuckles atop the earth’s crust, unworthy of the very minimum levels of ‘respectable poverty’ (extra Ward McAllister). However, for big and powerful 100 pound men like Prince Alaweed (sp?), the Forbes 400 means everything.
All that aside, the driving season is ahead and the simplest bounce in the euro, coupled with a raging fucking rout in treasuries, will get oil going up to $58 by March. If that’s the case, I suspect shares of most small to mid capped oil companies will be 25% higher from current levels, if not more.
SLCA, as an example, is down 6% over the past week, while bedraggled illegal Mexican companies like SN are up 10%. Meanwhile, SLCA is a fucking cash generating machine.
With my money, I like SLCA, PEIX, DVN and ECR.
The downside to higher crude will inevitably mean airlines, restaurants and healthcare stocks trade lower for a bit. None of this shit makes any sense. But, lots of hot money has been toiling inside of hamburger stocks, as oil dropped lower. Should that trade end, those fucking hamburger bastards will check out and chase the shit I am selling.
All of this is very confusing, especially for new lads, fresh off the boats. Just know this: you have the best job in the world. All of your neighbors, stupid moron friends, and family members, are 100% retarded for not sitting in our illustrious ‘trading turrets’, bearing witness to such extravagance and splendor.
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Zombie must be asleep
FIG
Agreed Fly. Just posted this in another thread but thought it appropriate – Started buying SN on the way down at 8,7,then 6and sold the last of it at about 10.50. Looks like I got out of it too soon, just worried about the debt load compared to their rocks and gassy plays. Fundamentally like LNREF, GST, AXAS, and AREX here – these are my junior E&P’s, anyone got any better? I also have some SCLA and CVEO as beaten down oil service plays. Will check out PEIX, DVN and ECR. Then I’ll use my profits to buy for HABT in the $20’s BAM.
AREX has a fucked up balance sheet, and OAS.
ECR just did a capital raise.
I like EGY for a jr E&P play also. AXAS is my other favorite. Mid size FANG and EOG are my favorites. Loving the SLCA
Hilarious.
Awesome writing again.
AREX looks like it has about $400 million in long term debt, agreed its a lot for the size of the company but looking at their acreage and past profitability my bet is they can see their way through the debt issue. SN and OAS have over $2 billion in debt each, SN has better rocks but both are very gassy and OAS is getting killed by differentials. Looks like SN is cutting the shit out of the cost structure which is great, but tough to pay $40 million in interest every quarter on $200 million in revenue. Again I liked SN at $6, even at $9 or $10 but too much risk and not enough reward for me over $12.
And here I thought everyone was still being all bullish on the ‘long term’ view of oil.
$SHAK to 25. $HABT to 50. The $KING ipo part two will pay the price.
Oil still has heavy weekly supply going against it
(The shot down was probably prepared for by those in the know because there always was a supply surplus, whatever reason now it counts)
Everyone should have a, side dish, of oil long. agree. but unless the narrative reverses (by those in the know) they don’t want it higher
ITS SHOWTIME
lol
Hate to say it but I’m with showtime here. Will short oil at 60 if it gets there. 53 is tough resistance.
blast from the past…have never been lower then the 7th level: https://www.youtube.com/watch?v=Q9hLcRU5wE4
” you people only understand the fist and the boot, savages from foreign lands, regular Mike Huckabees” …fucking magical. love it.
MTDR is one of my favorite oil plays here. Gorgeous balance sheet, hedged prices, and primarily drills in Eagle Ford (cheapest spot in US for drilling).
The William Faulkner of market blogs!
Long SD, MHR, EOG, GDP and CPE, as well as a few pipelines.
Thanks for the ideas all, I just doubled my SLCA position hoping for a breakout finally and HCLP earnings after the bell might just provide the catalyst.