Exact same pattern as Friday. Gaps down, and then recovers slightly.
I predict another significant drop in the afternoon when the US opens.
I predict another significant drop in the afternoon when the US opens.
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I'm alright Jack -
Bp target just set for 305. Presently 346.What happens in General, stays in General.You know what they say about assumptions!Comment
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You are far too eager to jump in. Takes weeks to see the long term trend and have any hope of buying at or near the bottom.
We've had years of QE inflated asset boom, you think the bottom is here a few days after the first slide?Comment
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I agre. Too early to tell. But worth getting funds available.Originally posted by DimPrawn View Post
I think a good long slide is on the way. I've got 300k cash to play with this time, I've moved 7 in so far.
Las time I called the bottom and bought in with 50k but sold on the rally really early making 20k. If I'd waited it would have been 200k. The weakness in commodities is very telling.What happens in General, stays in General.You know what they say about assumptions!Comment
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This is the problem with investing. You tend to hang on to losers for years (hoping for the eternal turn around) and take profits in a few weeks, cutting the profits way too early, and missing out on the meat of the move. Timing the best time to sell is bloody hard (unless you have insider knowledge).Originally posted by MarillionFan View PostComment
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The point is that BP and Shell are good buys.For example BP is below it's price 10 years ago. There are other shares that are due for a correction.
Even if it goes down, it will bounce back very strongly and very quickly.I'm alright JackComment
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Not sure I agree on the oil/energy producers. Just because the price is low does not mean a bounce back. Maybe the days of big profits in the oil industry are over.Originally posted by BlasterBates View PostComment
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But that's the point, that's priced in. At $80 a barrel they should be worth double their current price.. At current oil prices they're a good buy, they're still making a profit. Sure maybe oil will drop a bit further but I really don't see much of a big downside, If the oil price goes up, you make a killing.Originally posted by DimPrawn View Post
I'm alright JackComment
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I think 40 is going to be the new high. Saudis pumping in more to keep prices low and bankrupt new US shale companies, with low output from China, hence low usage.Originally posted by BlasterBates View PostBut that's the point, that's priced in. At $80 a barrel they should be worth double their current price.. At current oil prices they're a good buy, they're still making a profit. Sure maybe oil will drop a bit further but I really don't see much of a big downside, If the oil price goes up, you make a killing.
I think it's an add though but I don't see it moving for a few years and then not back to the 600sWhat happens in General, stays in General.You know what they say about assumptions!Comment
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The longterm oil consumption trend is still up.
Short-Term Energy Outlook - U.S. Energy Information Administration (EIA)
But production is up further, with exploration budgets being slashed it's only matter of time before there will be a deficit.
This is an almost certainty
One thing I have learned is there are no "new paradigms". i.e. the stock market is up it will stay up or the oil price is high it will stay high. Oil is cyclical, the price goes up everyone piles in produces more and more oil, the price goes down exploration gets slashed.
I would only see a problem if something came along to replace oil. But I haven't see that. Man has been burning oil since the ancient Egyptians and it aint going to change.I'm alright JackComment
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