iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,125 Blog Posts

DOUBLED UP IN $DRIP

It’s over oilFAGS. There is nothing left to discuss. Your entire industry is in ruins, tatters even. All of Saudi Arabia is now a wasteland. Whole oil fields will soon become sand pits for people to make sand castles or source for materials for glass jars. People who’ve lost their faces will store their teeth in said jars.

I have a keen mind for these sort of disasters and know a snow ball rolling downhill when I see one.

The high yield stresses are intertwined with the fate of WTI — which is shockingly lower by more than 5.5%. Normally, I’d suggest pause after a move like this. Truth is, it does not matter what WTI does tomorrow. The damage has already been done. The prices have gone down low enough to stop production and cause extreme stress on balance sheets.

I averaged up in DRIP, bringing my basis up to $15.84.

I cannot be stopped.

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9 comments

  1. rigged game

    Isn’t GE slowing you down some?

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  2. numbersgame

    You’re killing it on $DRIP.

    I sold my long AAPL positon at 0.02% below the day’s high after calling my price this morning. Also, ditched the AMZN $1600 calendar spreads at 1:12:10 PM, also right at the day’s high. That’s some Jedi shi!t right there for you folks, and I’m talking Skywalker.

    Now I’m still holding MU long (which is well-off it’s highs admittedly), even more NFLX short (because regardless of the strong chart, it is overpriced as hell), and tons of cash waiting for the next move.

    https://ibankcoin.com/flyblog/2018/12/18/futures-surge-trump-calls-fed-twitter/#comment-556644

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    • numbersgame

      So Micron blew their earnings. Of course, the stock has plummetted sicne last earnings call ,so that may be priced in. Waiting to hear forecast.

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  3. s.k.

    Powell ain’t gonna bend tomorrow. Look at the banks.

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  4. thehouse

    I dare you to look at the balance sheet for CRC. $31M cash vs $5 BILLION debt.

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  5. roundwego

    Vix outperformed today as finance and oil go up in flames.

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  6. Theon Nodick

    Oh my god, glass jars. That’s great.

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