If I didn’t know any better, I’d venture a guess that you little bullish ass wipes were trying to inculcate some sort of lesson to me. Day in and day out, you push the market higher to spite me, no doubt of it.
Well the jokes on you. I’m not covering my hedges. I’ve got the necessary longs to wait this out (as unpleasant as that has been; oil is going apeshit). I can out last you kids and your stock buying fetish.
Earnings season is a long, winding road to hell; as you try to take the path in one sprint, I will wait patiently for you to fall over the edge and down the steep face of the rock.
If that means suffering some losses between then and now, I can.
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Cain,
good to see you’ve picked up the pace ont the blog.
enjoy your insights, and writing style.
Tigers are on fire !!
The Tigers are no longer on fire.
You are completely on the mark here. I like the conviction and coincidentally share it. As oil moves higher an oil short becomes increasingly attractive. Chinese data shows they are slowing, copper inventories are through the roof (clearly a sign of robust construction and manufacturing sectors), countries like India are throwing everything and the kitchen sink at inflation in food and energy, and the European bailouts (assuming they manage to actually cobble something together) will simply postpone the impending shitstorm.
I suppose I could have just written “I tip my hat to you sir”
No need, you hit the various points.
We haven’t even witnessed a Chinese slowdown, yet it is somehow priced in and off the table at the same time?
In the wise words of Arch, wherever he may be…
Are you fuckers done trying to shake me out!
Where did Arch go?
I remember hearing something about an Asian brothel tour…
Indeud, I’ve got my finest burlap on for Silver, cash to boot.
See you at Dow 14,000!
Why stop there?
DOW 210,048!!!
Nah, we will just pause there. Eat a sammich and head to your new target.
Earnings revert to the mean. Of course unless “This Time it is Different”. Which I have not seen in my 28 years of investing. So earning go lower. The net result and timing is, as always, uncertain.
Oil co. valuations on a NAV or flowing Bbl basis are about where they were at the height of the US banking crisis ’08. Despite an ocean of crappy sentiment, I wouldn’t put the Euro BS in the same league as US banks ’08. Now the $US is certainly a role.
We go to low to mid 1400’s next year…
Look at SU. SU IS the Oil Sands.
It dipped very close to the 2008 range lows last week. Was it that bad last week, or was the market trying to price in what it thought would happen? Back in 08, shit was actually fucking BAD! U.S. banks suck balls, but that’s just like gravity is drag, other than that the blue chips hat weathered the crisis have churned out profits. Oil will be necessary, and below $75 too many producers will go offline, thus rendering a shortage and leading to another spike.
I’m long CDN oil and long CDN banks. No surprises. They are my core holdings.
Are we overbought on oil this week? Perhaps a tad too earnest, but I can guarantee last week’s oily drop was far too steep considering that the possibilty of a recovery during the recovery (is that possible?) was possible.
ps, that was not a lecture. In fact, I salute you for calling the oil bottom several weeks ago btw.
Oh cut the crap with “The Fly” style of writing. It only works for him.
I consider myself unique. However, feel free to get bent.