Now that crude traders have been dispatched and crushed into 10,000 pieces, you must be pondering how the oil stocks have faired? After all, the oil companies that belong to these stocks are wholly dependent upon the price of said commodity to fund their operations. Or, am I missing something here? Are they selling dirty magazines to their employees working on site too? Maybe they sell egg salad sandwiches to workers to hedge against these CATASTROPHIC drops in their only product.
Let’s have a look.
WTI -21%
CLR -7.9%
CXO -0.3%
CVE -3.9%
LNG +1.1%
AR -1.9%
XOM -8.6%
CVX -5.6%
TOT -4.8%
NBL -6.5%
COG -8%
MPLX -5%
XEC -3.8%
Of course. It’s all just a big, fucking, joke. It’s one thing for stocks to inversely correlate to oil. I can get my mind around the idea that somehow the overall economy benefits from lower inputs. But for crude stocks to ignore or even trade higher in the midst of WTI carnage is the result of a servile and wholly dysfunctional booze hound culture of corrupt and inept money changers, unwilling or able to see the forest through the dense and smoke laden trees.
The fucking forest is burning down. You just can’t see it with those goggles on.
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Commence the Great Shakeout
They have all hedged and are good for 6 months to a year.
That’s a lie.
Fly, I’m starting to think you’re no longer bullish.
XEC and CXO have so much debt and so little cash.. usually not an ideal position to be in.
If oil decides to make a short term bottom oil stocks will EXPLODE TO THE UPSIDE AHHHAHAHAHAHAHA!!!!
Diatribes like this are why markets will trade higher.
One day very soon, I will preside over your grave.
The ECB, BOJ and maybe the fed are buying corporate bonds. They have access to free money still.
Oil companies are producing and selling more crude. Ergo, prices are going down again. How long the small independents can keep this up and survive is the question. Below $40 oil is dicey.