There is Blood in my Oil

Motherfuckers.

I can’t say that I didn’t know commodity stocks weren’t extended. I mean, they were up 50% last week. In a way this is a natural reaction to a beast mode move. If I were optimistic, I’d call today’s 4% drubbing in crude, and subsequent 7% collpase in oil stocks, as a buying opportunity.

My exposure is limited to SLCA and CNX. Remember I became a fucking coal man again last week?

The problem with momemtum stocks is that there isn’t any momemtum, if you know what I mean. I keep waiting for the good times to roll and I keep getting disappointed by the jaded outcome.

Maybe this is the market we are stuck with, one that rapes and pillages until all of the citizens are foraging for food, bankrupted through speculation.

As an aisde, SHAK is now an oil stock too. That stock has gone straight down ever since the morons who run it decided to sell a gazillion shares in a secondary. The market loathes this type of behavior, greedy little VC fuckers, insiders who are devils, taking advantage of Wall Street’s high valuation to ingratiate themselves with riches.

A stock can remain expensive only if Wall Street believes the insiders are trustworthy, wholly committed to preserving shareholder value, and executing at the highest levels. Any chinks in that armor will send the stock swooning lower, until confidence is restored.