This is truly delightful. I love when the markets do things that aren’t supposed to happen, like crush oil stocks when oil is rallying hard. It reconfirms my theory that everyone is subject to total wipeout and nothing is held sacred.
My commodity exposure was recently increased, with purchases of SLCA, CNX and FCX, so today’s drubbing does not go unnoticed. Lukcily for me, I am also long SHAK, GILD and TWTR in decent size.
Imagine yourself to be one of the little monsters in a game of whack-a-mole and some 5 yr old is presiding over you with a hammer. You pop up every three seconds or so, trying to outwit the child. He’s slow and uncoordinated, so it takes in awhile to get you. But when he does get you, your head will be cracked in half.
Aside from that, everything is peachy. How are you on this fine Friday afternoon? Still buying stocks?
Some of these biotechs are meeting their maker today.
More later.
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I’ll have another lump please.
SLB weighing things down… though, as far as I’m concerned, this was completely expected. They said in 2Q call that lower oil would push out recovery almost explicitly… so people who’ve done homework shouldn’t be surprised. Regarding oil up on down numbers, storage is supposed to build this time of year (see PAA investor presentation). Rig count continuing to roll over points to further/additional production declines (which have already been substantial).
Why yes, I added to my CBI position today. I have no idea why it’s down almost 10%, but what the heck. I’d like to finish exiting my EOG position, but not today I guess.
CBI is an oil/gas company in an industrial disguise. A lot of future earnings are coming from LNG projects, which are currently uneconomic. As O&G capex is cut, these guys may feel it.
And nuclear. Whenever I see CBI get hammered I check for more bad news from Vogtle. Or hack jobs from the blogosphere, where anyone can be an analyst.
uh no had a nice 3 1/2% + flip on the UCO today. and thank you TWTR shorts! Sold ! will buy again under 29.
Doing well LeFly Are they really going to crash this USD you think? IMF meeting in Peru but don’t think they gonna do it there. Yuan added to SDR baskets o honey
bought SLCA today LOL 31% short
Went and ate lunch with my son at his school today. No buying just waiting today.
Now I understand why you say things like “I’ll slaughter you puny people!” and the like! Anyone who doesn’t own $WMT is my enemy and I do not care one iota who loses their last dime on biotech, burgers or banks. Die! With my blessing. XOXOXO