Everything I know to be true and just is irrelevant. As such, I delved into my cash horde and purchased more Eastman Chemical Company [[EMN]] , GMX Resources Inc. [[GMXR]] and Flotek Industries, Inc. [[FTK]] . For the record, my basis in FTK is low 2.20’s.
At any rate, today’s reversal is super impressive, especially since the breadth was so bad early on.
Enjoy the run while it lasts.
UPDATE: I bought 30,000 ON Semiconductor Corp. [[ONNN]] under $8 and 5,000 SINA Corporation (USA) [[SINA]] @ $34.04.
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SD… ya looks good down here and the fact thst that company is oil and natural gas well diversified, and stong insider buying. Looking around for a gas play this one makes sense.
fig
Fly, what is the PPT Score?
hint: “enjoy the run while it lasts”
Another damn bum. Go subscribe to the PPT and you’ll know. Else, go fuck a cactus.
That single indicator alone is worth the price of admission.
Damn straight. I got about 5 years’ worth of subscription on a weekend hold of SSO based purely on PPT hybrid score dynamics.
Hello sir,
I am here to collect on my long overdue allotment of 40 points. I would appreciate prompt delivery of today’s points, all overdue points, and some reasonable timeliness with regard to future point allotments.
Thank you in advance
In FTK in the 2.20’s? Ouch– What is your target there? I’m in at high 1.70’s.
long about 1.1 mill, low 2.20′, dating back more than a year.
FTK: my basis is 3.21.
Long live The Fly. May he be right on FTK.
Posted this a few pages back but FWIW I’ll post here again to keep current.
It appears that another previously unexplored shale formation is now in play. This time in Northern Lower Michigan. The formation is named the Collingswood. A lease auction on state land last week brought in more $.$$ than the total of all previous sales in the last 80 years. Prices paid were as high as $5500 per acre and they averaged over $1500 for all land in the auction. 1/8 royalty was standard. There were some really heavy hitters at the auction. A Company called Encana did a lot of the buying but speculation is that it was for someone else. Considering the amount of money being thrown around I would guess that the buyers are not planning on merely holding these leases. Drilling and production are in the near future. These holes are very expensive to drill even with new technology so it’s doubtful that smaller regional O&G companies will be able to participate. Although I must add that they are not nearly the amount of expense as BP is experiencing currently in the Gulf. 🙁
ECA’s market cap is $24 Billion; and that’s after they split off their Oil division last year.
We were told by someone in the industry that the cost of one of these wells is well into 8 figures. It wouldn’t take too many misses at $50,000,000 per hole to make a big dent in a market cap of $24B
The hole was 9300 feet down and 5000 horizontal and the formation yielded 2.5MMcf of natural gas under test. Especially with gas as cheap as it is.
With shale plays it’s all directional drilling from a single platform (like spokes on a wheel). The geology and seismic is so sophisticated now that 95% success is pretty much common place. It’s all about the multifrac’g that determines recovery. Not much true guess work. PO PIMP could likely give you geophysics 101 on this. I’m just a dumb-ass who much prefers light land-based oil to gas CPG and PBN to drop a couple of names.
And Jeremy just cuz FLY’s pissed at VKING you don’t need to make the spam protection Q so tough — took me 4 tries.
nibbling at SD down here
SD Turning? I didn’t ever think it would go that low.
Should I pay any attention that the Bullish Percent Indices is at about 60%? If 40% of the market is bearish there are a lot of shorts to burn right? I’m trying to sit on my hand as to not do anything stupid but I want my 40 points.
Here a good article:
http://articles.moneycentral.msn.com/Investing/JubaksJournal/eurotrashed-it-is-not-just-greece.aspx
One of the only articles I’ve seen that actually puts a face to the boogie man. If short term financing is seizing up then we may very well see equity markets get blasted to shit.
That being said, this article would have spooked me more last week than this week. I’m holding long but staying away from margin, like borrowed money is the source of plague.
Here’s*
http://xtranormal.com/watch/6558101/
lol @ “steel genitals.”
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In the next leg up, the market will move up 15 – 20 %.
Oh my, yes, look at the price of silver. My new holdings are already up 3.5% (fucking price over spot, I’d be pushing 9% if I was content to hold paper).
I think I’ll make a “Fort Kickass” out of my bullion when I get home.
SLW up 7.77% as I hit send …NICE
Jake will be up all week…sorting this out….stacking his brick coins!!!
Jake and I will be holding a PM fight (similar to snowball fights of our youth) this week, in our respective bullion forts (it’s not fair his is bigger than mine, but there you go).
Be sure to bring something cheap and softer, like copper, so that it doesn’t sting too bad when you hit someone!
It does, we just have to give it time.
Newsbot story comment:
Re: Comcast CEO announces 70K hours of on-demand content
Translation for Comcast customers:
download a Comcast movie = $5
download the same movie from somewhere else on the Internet = $10 in bandwidth charges.
Broadband OPEC coming soon to a family budget near you!
I tried to order Avatar in HD three times, only to watch it lock up. Comcast. Meh
I can’t speak to the stock investment angle, but it seems that we are to broadband now as we were to oil in about 1960 or so. I.e. party on, drink it down because it’s almost free. Once broadband is a huge part of everyone’s life, then a squeeze is likely.
I believe families will eventually face $600 a month broadband connectivity bills, in today’s dollars.
The choke point is the “last mile” to the consumer. Unless technology finds a way to leverage spectrum or communities are OK with multiple utilities running fiber, the number of ways to deliver bandwidth are limited.
Electric power may be deregulated in your area, but how many different power feeds are available to your home?
Aside from it breaking all the laws of economics, your argument makes sense.
______
i have the best time machine.
Fly is alarmingly off his game, and I am alarmingly on mine … this is all wrong.
not true. I am exactly where I need to be
Out of recessions/depressions, the market goes up.
Did you know that to be true?
Quit fucking the doorknob and spend some time with your family.
didnt know you were into country music Capt. Diptera?
BIDU is inglorious with all its mighty
it’s going to be ok. truely (sic) it is. and what an honor and privilege for us to be daily participants in “hearing” you think through all of this. it can drive one mad. just remember to shut it off when you walk in the door of your home. let your brain rest. there you will be always be reminded that there are definately things that you know to be true.