Did Anyone Predict This?

[badcompany]

I sure didn't and I don't recall anyone making this call a year ago:

[badcompany]

Wow!

[_______]

No cut in production from OPEC.

[badcompany]

I shorted OIL a week ago. Was early to the dance and got stopped out. I fired a second bullet on Tuesday. Looks like it's gonna pay off.

[_______]

You are probably looking forward to the open Friday as much as I am dreading it, lol.

[Greyfox]

Originally Posted by _______

No cut in production from OPEC.

With allies like Saudis, who needs enemies?

[lamboguy]

i didn't predict that or the 10 year bond below 3% for 6 years already. i didn't think the dollar would be above 70, i didn't think the housing market was ever going to come back, the unemployment rate below 7% and the price of gold below $2000 for so long.

[badcompany]

This is turning out to be the best short term trade I've ever made.

I've been thinking, for the past week, that it's gotta bounce, but it just keeps going down. I guess there were a lot of suckers trying to catch the falling knife.

I would love to see how much the Saudis, themselves, have intervened in the market:

[ReplayRandall]

Originally Posted by lamboguy

i didn't predict that or the 10 year bond below 3% for 6 years already. i didn't think the dollar would be above 70, i didn't think the housing market was ever going to come back, the unemployment rate below 7% and the price of gold below $2000 for so long.

That's what $4 Trillion of printed monopoly money being pumped into Wall Street will do......BTW, not a true representation of the unemployment rate given by the Govt. versus reality......

[reckless]

Originally Posted by Greyfox

With allies like Saudis, who needs enemies?

Why are you insinuating that the Saudis are our enemies. They do consider the US shale oil industry an enemy, yes, but in my opinion, their willingness to blow apart the world oil markets is to battle against their real enemies such as Iran.

When those smaller world oil producers like Venezuela, Iran, Libya and the oil producers in Africa go belly up, the price should then stabilize and the Saudis will be the lone big producer again.

In the USA, some shale and smaller e&p companies will suffer, and when the bargain oil price is right, mid sized companies buy the baby ones, and the majors buy the mid sized companies. Marathon, Philips, Imperial, Anadarko, EOG and Apache will be gone in all probability in a few years.

(As a side note, the lower world price of oil, thanks to the Saudis overproducing and a lack of demand as I see it, plus the production prowess of US oil companies here will make it a lot tougher for the real world's enemies to continue to fund their terrorism and mayhem.)

[tanner12oz]

I really want to buy rig but it just keeps dropping

[badcompany]

That's it for the oil trade. It was fun while it lasted.

[_______]

You weren't out with the move yesterday afternoon? I thought about your position when it retrenched after opening lower and wondered if you had been stopped out at that point.

[badcompany]

Originally Posted by _______

You weren't out with the move yesterday afternoon? I thought about your position when it retrenched after opening lower and wondered if you had been stopped out at that point.

I had a wider stop. Yesterday it was 14. Today, it was down to 13.8. That 5% upward spike took me out. I'm sure I wasn't the only as that trade had to be crowded. Volatility usually signals the end of that kind of trade. After yesterday, I figured the end was near.

As an aside, I'm not a big fan of these one day fed driven rallies. They tend to be given back in short order.

[plainolebill]

I'm not a trader but yesterday when Repsol made an offer for Talisman at 175% of market price I went long E&Ps. It may not be the bottom but the bottom seems a lot closer than the top. CLR, WLL, OXY, COP.