Some of you guys are sad. Its real depressing reading your ridiculous and not well thought out posts. I personally love you negative guys because you are the ones that get blown out the fastest. If you actually thought that the big oil companies werent going to make money frankly you're a fuck!ng moron. You should give up being a trader. DOW going to 7000? where do you get your horeshit from? how much do you smoke? I think some of you guys are just babbling and listening to some of these other wank analysts. Do some real research kiddos, you might actually learn something. Understandably some of you guys are very short term traders. Thats a different ball game and if you are a real trader, it really makes no difference where the market goes because you're not holding positions. For you others that ARE holding positions, if you think the DOW is going to 7000, you should just give your money to charity if you don't care about it. idiocy reigns supreme in a lot of these posts.
Do you have a position in XOM or any other oil related stocks??? If so SELL, oil companies over the next 1-2 years are going to fall like a rock, if anyone thinks oil companies are going to continue making record profits they are a fuck!ng moron. The oil trade is completely over, you had your fun, the commodity BUBBLE has popped, if you think oil is going back to $100 or $200 you are a complete fool, there isnt any catalyst to push oil up. XOM is going to fall, sell now and be happy with what ever price you sold at, XOM is headed for a 25% drop.
I absoultely agree that oil is NOT going to 200 or anywhere close. But I was referring to the fact that people thought that currently these companies would somehow not have money when prices have still been inflated not to mention the ridiculous amounts of money they made when oil DID go to 150. As for the other guy, I can't wait for you to blow up your account
LOL Fade me then, put your money up. I cant take money directly from these companies, but I can from you. Bring it loser
What are you, like 4 years old? buy your kiddie positions, I don't waste my time with small fries. When you step up your game, then you might be able to talk to me. I could care less what you're buying or selling, but it'll be hiliarious when you're smoked out. Have fun trying to cover your shorts kiddo.
Last July when oil approached $150 a barrel this board was filled with "oil will never get down to $50 again". Yet six months later, here we are. Look at the long term trend line. Oil will go up and eventually set new highs. Demand will increase and it's getting harder to find. Large scale projects to meet the world's demand in 10+ years won't happen with oil below $80-100 a barrel. It's too early to be a buyer now. But it will happen.
Agreed 100% Cap-Ex has plummeted at most E&P companies. Aside from Royal Dutch Shell, I think that Chevron is literally the only major-integrated that is keeping with the same Cap-Ex as last year . . . nearly $23 BILLION in capital projects for 2009. By the way, we lose 30% of our natural-gas production here in the U.S. on an annual basis if we don't continue drilling. Once this Economic "cloud" dissipates, we will again see a firm "bid" in the energy complex. And my bets will be placed accordingly . . . including COAL companies that on average have a beta of 2.00 For some perspective, over the last 5 years, the growth in Chinese coal consumption is EQUAL TO THE TOTAL CONSUMPTION OF THE UNITED STATES! Just think about that for a second. Then have a Beer.