I read this story on bbg and had to share it.
Let me get this straight. Oil collapses to $35 per barrel. As a result, the entire industry is in shambles, forcing companies to fire workers, close down fields, en masse, and the droids on bloomberg think everything is okay. Nothing to worry about, since the true danger lies in 2017.
Give me a fucking break.
Question for you stock market lovers out there.
If you knew a hedge fund had to liquidate his largest position by next month because of redemptions and you were short that stock, patiently waiting for it to fall, would you: A. cover the short ahead of the fund collapsing? Or, B: short more, knowing that a big seller was soon going to hit the stock, giving you a once in a life time trade to bank coin?
Look at the debt schedule for the oil and gas sector.
To believe this mountain of distressed debt will somehow resolve itself is more than naive, but straight up stupid. These analysts are hoping the price will rise, in order to alleviate the debt burden. Well, what if it doesn’t? Don’t you think Saudi Arabia, Exxon Mobile and other major oil conglomerates want the weak players out of the way? Isn’t it feasible that the price of crude will stay depressed for years to come to ensure the complete destruction of the Bakken Shale?
Don’t hold your breath waiting for a miracle– and certainly do not believe the horseshit coming out the media and the bedraggled microbes, who pose as analysts, when they tell you that crude down 65% from the highs isn’t a big deal.
NOTE: All 2016 predictions from the iBC crew will be posted, exclusively, on our Facebook page. Bluestar’s have been posted tonight.
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Whatevet. It’s still going to dead cat next couple months, and you’ll be there to profit.
C: Buy GOLD and humongous cans of tuna fish yo.
Hi moosh. Will you suck my dick? I heard you are a big fag.
Nerp and nerp. Thanks though sarjoy.
You sure? I get the impression.
We will be mired in a mess for the next few years. I work in the sector and all of my friends in the business are certain the low is coming (how could it possibly go lower?; oil is inelastic; yada yada). I’m pretty sure the pain in the sector is just starting and will be far worse than anyone assumed.
I have a friend who is going to investors next month to ask for $50-60MM to start up an E&P company. I’m actually somewhat confident he may get it, as everything I’m hearing is that investors are clamoring for opportunities to invest in at these depressed prices. Make no mistake, there are some incredible opportunities out there if you can withstand a 5-10 year duration on your investment. I’ve heard some pretty insane stories of bargains had at online auction sites lately.
5-10 years investment is something everyone here should take some time to contemplate. Shit is quadrupling now
No doubt, there are going to be incredible opportunities in the commodity space in the next couple of years, but you have to be patient and wait for everything to wash out.
check out Marti`s hacked twitter account before they shut it down :)))
Le fly, point me to the first international oil takeover. Thanks
Is M&A the game plan for 2016 in the oil and gas space?
That’s what I think. But it should get dirty if that’s the case. Looking at acreage co with debt now.
It is unreal what lp and ng companies are banking right now. Even now in low demand. I can’t figure it out.
Generational rug pull. With basically an entire couple generations of trader who have never seen a real default cycle. Back in the day they called it a bear market. Could be wrong but when Uncle Carl gets bamboozled? Not good.
What are you positioned into, if I may ask sir?
$FCX is one position bought 2 points higher. Not a bear or a bull just trying read the tea leaves.
Also flipping solar. $SUNE $GLBL whatever policy dictates. The tape is a zombie. Has been for awhile.
The Squid is most likely already short. The bearshitters call it a reset. Banksters call it no more people to sell too. Keep fighting the Fed being long and strong. Good luck.
Following the Puerto Rico debt crisis? According to current propaganda, allowing them to file chapter 9 constitutes a “bailout”. In contrast, a 3 billion dollar gift from Congress is “not a bailout”. This country is fucked. Big time.