Here we are on a Tuesday, getting a day of comfortable green price action. It’s remnant of a time when every day stocks melted higher and bears were committing suicide by the hour.
But buddy, this isn’t going to cut it.
While I love finally seeing a little bit of upside I know in my heart that this is just the waft of fresh air that gets you to patiently wait in the smoke filled room while the fire starts to work through the next layer of the walls.
My recent patience with this day after day of unfolding tragedy may be the most unsubstantiated move I have made in more than seven years. I shouldn’t be this comfortable, but here I am anyway, watching the villain saw me to pieces whilst I sip from a small cup of tea.
Only work outside of the task of managing my wealth keeps me from fixating exclusively on this nightmare and probably suffering a massive nervous breakdown / stroke combo.
I want you to hear this, right now: the world isn’t changing that much.
Sure it’s an exciting time to be alive, but you think oil won’t be valuable in thirty years time? You need to open an organic chemistry book or three and get with the program. I have watched this happen enough times to know that the same scumbags who are preaching environmentalism and a return to the times of Friar Tuck from one hand are busy buying anything oil and coal related with the other. Just because you can’t see where or how doesn’t mean that they aren’t.
Venezuela is melting down completely now. There are reports on twitter of inflation rates that crest an annualized 800% – real inflation is more than 120% per year right now. That country is going down, and when it does I do believe the oil market might become a lot less oversupplied.
Or maybe it will be somebody else? Who knows…but so far the US domestics have been holding on like champs. I’m will not get shook out by the freaking Saudi’s, of all people.
I remain convinced that the US domestic boom in oil production remains the best place to hold money for 10 years or longer. Just so long as your positions don’t go out, watching them go down will just make the story better for the kids.
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Commodities have been getting murdered across the board. This can’t last forever, it’s really just a game of picking who has the assets & balance sheets to survive these prices the longest and buying them.
I think ARLP fits that description quite well
What oil companies do you think will prevail with enough cash and financing avail to withstand these low prices? I’m in CHK and looking for others that might fit this criteria. An suggestions?
I agree and am playing it conservatives by playing the pipes-exposure to several domestics without direct commodity exposure. KMI
Wait til the bankruptcies start to buy. Hedges will be rolling off soon and many are going down.
I like MCT conviction, and have followed on some investments…though I was a JakeGint believer also…