The dollar is a piece of shit. Hence, you’d be a moron not to be long commodities, in some form. If gold and silver gives you morning wood, so be it. However, I am into buying commodities that people actually use. Hence, I like to consider myself an oilman.
Via The PPT:
Top 3 Oil & Gas Equipment Service Stocks
Cal Dive International, Inc. [[DVR]]
GulfMark Offshore, Inc. [[GLF]]
Baker Hughes Incorporated [[BHI]]
Top 3 Independent Oil & Gas Stocks
Stone Energy Corporation [[SGY]]
Talisman Energy Inc. (USA) [[TLM]]
CNOOC Limited (ADR) [[CEO]]
Top 3 Oil & Gas Refinery Stocks
Murphy Oil Corporation [[MUR]]
CVR Energy, Inc. [[CVI]]
Holly Corporation [[HOC]]
Top 3 Oil & Gas Pipeline Stocks
Magellan Midstream Partners, L.P. [[MMP]] Genesis Energy, L.P. [[GEL]] Enbridge Inc. (USA) [[ENB]]
Top 3 Oil & Gas & Exploration Stocks
Pride International, Inc. [[PDE]] Enerplus Resources Fund (USA) [[ERF]] Noble Corporation [[NE]]
Bonus:
Top 3 Stocks, ranked by technicals
Brigham Exploration Company [[BEXP]] American Oil & Gas Inc. [[AEZ]] Kodiak Oil & Gas Corp. [[KOG]]
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Part of CS musings on the gold move.
Recent news from China seems to suggest a relaxation on policy around retail
gold holdings, with the state-owned Central Television network promoting
investment in precious metals. For the first time ever, investors are being given
access to silver bars, ranging in size from 500g (~ US$262) to 5kg, as well as
accessible gold investment options. For many years India has been the largest
gold consuming nation in the world, however, if recent trends continue, China
could be not only the worldís largest producer, but also consumer of gold in 2010.
It is not clear exactly where this gold push is coming from ñ although for such a
move to be backed by the state seems contradictory to the Central Bankís
speculated objective of building its own gold reserves. Chinaís Central Bank
gold reserves were 600t in 2003 and in April this year stood at 1,054t. Not
surprisingly, updates on Central Bank activity are fairly scant.
To put this into context, if Chinaís population of 1.33 billion people each
purchased an additional US$1 worth of gold, this would represent a 41.5 tonne
increase in gold demand, or 1% of the annual global gold market.
In line with seasonal demand trends, we expect the gold price to continue to
firm through September/October, however, on a one to two-year view we
remain concerned about the +1.707kt of gold currently held by Exchange
Traded Funds (ETFs) and the risk that what has to date been a consumer of
gold, become a net supplier.
The dollar is a piece of shit.
True, but is the Euro any better?
Matter of fact the recent gold move didn’t seem to be a move out of the buck in any big way, it seemed to be a move out paper currencies which in itself is very quite alarming if it’s the start of something big.
500g (~ US$262)–
I tell you what, you get me half a kg of gold for $262, and I’m a buyer all day, every day. Heck, I’ll even throw in an extra hundy a half kilo.
Deal?
___________
Jake – That was the price for silver not gold.
Oh, duh, thanks. It was late, erm, I guess….
That’s still under $15 an oz, though, which is a bargain, considering…
______
So people don’t “use” gold and silver?
Interesting.
___________
ummmm
Not nearly as much as oil.
Thanks.
Agreuuuuud.
Now, let’s compare market capitalizations….
Hmmm….
Earl: Very very very big.
Silver & Gold — teeny.
Now, a quick thought exercise:
Million of Chinese buy earl? — steady increase in earl price.
Millions of Chinese finery arrowed to horde gord?
________
99% of all Gold ever mined exists today.
The Fly like myself prefers commodities that get comsumed in some way especially oil which mostly unrecoverable(gasoline).
I’ve heard this stupid refrain (sorry, but that’s the best descriptive) from all manner of detractor since 2001 when gold was below 300/oz.
Let me ask you a simple question Uncle Facts — do you think perhaps it’s possible that the relative resiliance upon which you remark, combined with overall rarity of gold maybe leads to its #1 historical position as the de facto store of value since civilization began?
GOLD IS SUPPOSED TO STICK AROUND, THAT”S WHY IT’S A GOOD SUBSTITUTE FOR MONEY!
Sheesh.
Moreover, silver is a very versatile industrial metal as well as a specie substitute, which is why I own a lot more silver than gold in my overall portfolio.
Wise up.
___________
Silver does have it’s uses which is why I never mentioned it.
Can’t agree with you on gold, heard the arguments for it before, don’t really care.
If it goes up and you make money that’s really all that matters, just not my preference.
Then drop that rote argument. It’s nonsensical. Gold has never been just a commodity like oil or coal.
_______
fly can i be your personal servant.
Love that SGY!!
The Chinese are buyers in size of oil and gold. I haven’t seen Bills fall this fast since the 2005 NFL season. Not only direct physical purchases of the commodities but via stakes in companies. For oil, just look up all the companies with whom they have made agreements. Search CNPC.
Fly,
Do you like basic materials too?
I’m thinking about taking part of the portfolio and dividing it among basic materials, oil equiptment and services, and precious mateals and holding it for awhile.
Does this make any sense to you?
Check my blog for some basic mats suggestions including already mentioned Jacksons TC and TCK.
________
They can buy all the commodities they want – just keep your hands off all the gall dern moose cocks, tiger dicks and bear wangs.
Ya assholes.
i think the Chinese are also buying up all the tiger dicks
FIG, no really, FIG: http://notablecalls.blogspot.com/2009/09/fortress-nysefig-upgraded-to-overweight.html
still worth entry now?
Where is HERO on this list?