What a wonderful coincidence to see oil spiraling higher again, just after a peace agreement was reached in the Ukraine. I wonder what they have that we want over there? Maybe Jesus’ bones are buried there, or perhaps some rare earth metal, which can be used for our cellular mobile telephones? Either way, oil is definitely making the seasonal gods look meaningful this morning.
This play is very, very easy. Buy the oil stocks that are down most, who have massive short positions in them, and then crush the skulls of those embedded short inside of them. If you’re bored, you can do this over and over again. It’s a lovely game, indeud.
Here is my execution list.
SFY
CRK
EPE
UPL
PGN
NOG
REXX
WTI
BBG
PACD
EXXI
SLCA
BAS
FMSA
Bear in mind, most of those names are complete shit and will wipe out your family fortune, should you fall into a coma and wake up a year from now. The best name on that list, by far, is SLCA. They are the real deal, vendors of beach sand to rednecks who enjoy contaminating drinking water.
It’s worth noting, I’d be reducing oil positions into this melt up. I’m actually looking at banks and some steel here, namely BBD, VALE and TCK.
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BBEP?
BBEP can work.
Oil will be in the $30s soon.
Those sort of statement do no one any good, especially you.
No one has a clue where oil will be “soon.” Stop pretending to be an oil barron in UAE.
Good Morning from the Saudi Arabia fracking fields.
That’s why I’m not in oil at all. The only thing I believe about it is that dramatic declines like this happen for more than just a positioning mismatch. That can accelerate a move but will not cause a move like this without a fundamental reason, which I believe to be demand. Fits the bigger picture, and I don’t really think there’s much upside for oil medium term [2ish years]. There will be bounces and drops that look impressive on a percentage basis, but we aren’t touching 80 any time soon imo.
That, and I believe that for every $2 bounce a potential $6 drop is waiting in the wings.
These bounces are due to positioning, not any sort of fundamental improvement in supply/demand.
Key words: “I believe” and all we know about you is your handle, “Zuul”.
You are suggesting it is possible to know.
Sure, have another drink.
Your reply had a stunning lack of imagination.
Who said anything about 80? 65 could happen on technicals and market mechanics alone though.
I’m long many of the preferreds – CPE-A, GDP-C, MHR-C, MHR-D, and SDRXP – as well as commons (EOG, MHR, and several pipelines). I like the idea of averaging 15% yield until the oil patch sorts itself out.
Any thoughts on nat gas Fly?
Nat gas is much worse than oil. I’d stick with oil
Will you be posting more Gaye pictures?
Fly post: “I’m actually looking at banks and some steel here, namely BBD, VALE and TCK.” Do you mean BBT?
Disregard.
It is not just fucking beach sand..
It has a coating of molecular plasma interference shale resonating lithium polymer carbon nano quark science in each grain. That is how it manages to make the oil come to the surface…
Decided to play oil in a safer, more insulated mode, i.e., OIH.