Something is just…wrong here. Isn’t it?
A supermarket chain in the UK dropped that much? Wouldn’t oil have helped them? Greece plunged 11%? The EURUSD is dead, plumming along at 1.24.
These are 2009 type moves we’re seeing here. I’ve been looking at each of these events in a bottle, because I was blind to the obscene money I was making. Taken together, they spell a rather dark picture.
I didn’t sell any BAS, just CCJ, VOC and HCLP. If we get a good relief rally, well…let’s just say, I’m skittish now.
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Personally would have kept HCLP over BAS but whatever
Personally, I’m leaning towards 100% cash, and a relief rally is going to be better on BAS.
Something is off.
Will be adding to both BAS and HCLP.
So, if the banking crisis and the publicity of the banking crisis helped lead to the last recession, could we be weeks away from seeing some credit defaults on oil service companies start soon? I still think this is too soon, unless some of the companies started cutting back on new well contracts back n September/October. That could definitely be a sentiment catalyst, obviously not on the scale of the banks, but still would be significant and push it to the public.
Hmmm…I think oil is a symptom that is going to cause numerous problems unto itself. But I don’t think it’s going to touch off a global recession.
I think we already have a global recession budding.
The big question is, how does this affect the US. I’m torn here, and my losses are so MIND NUMBING I just finally woke up and said “call a time out.”
BAS saw a 6% slide in well utilization last month. That’s sort of the start of something.
Last year, they saw a 10% slide from October to November. IMO the 6% slide this year is slightly bullish.
Last year they were chin deep in snow by this time.
True, however, there was also a 10% slide from Oct-Nov the year prior to that.
The 6% drop in utilization last month is mostly holiday related- not much to read into that number.
You don’t believe in Santa?
I did until the Saudi’s and Greeks killed him.