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Looks like it bounced pretty good already! What's your target Eagle?
In VC @2.09 eom
It's a strange market. GM sales are down 18%, yet it's green.
Double down F (again) at 4.47 eom
Double down F @5.08 eom
Covered APOG @18.26 eom
Good grab Eagle!
This absentee trading crap ain't working. I think that's my last trade for a while.
Got some F @5.88 & 5.89. Have to leave for the rest of the day to look at rocks from 6650' deep.
That wouldn't surprise me a bit.
Been out all day ninja. Another ugly day. I may get some more Monday, but we are getting close to the pay zone on this well we are drilling and I may not be around.
Looks like it's following crude oil ninja.
In DTO @24.50 eom
In LCC @2.99 eom
Probably throwing money away, but I doulbed down on DCR again at .28.
OUCH! How did you do that? eom
Not today ninja. Been out looking at rocks from 6000' down.
So, what are the new symbols?
I dunno. Stranger things have happened. It gained 17$ in just 3 days last week. It could drop it just as fast.
I think I'm gonna hang on with it until the OPEC meeting June 22.
It's not your fault, I'm the one that pulled the trigger. My being gone most of the time is the real problem. I have to leave in a few hours again to go back to the rig.
Are there any other ETF's you know of where I can short oil? (Ones that won't be terminated.. LOL!)
Ouch! Was out all morning. Too late to dump now. Tripled-down at .52-.53. Maybe I can salvage part of it.
Looks like it ninja. eom
I got some more F @6.05 eom
Hi db! Not doing worth a damn with trading, but the oil and gas drilling is going great. We're on our 3rd out of 4 in the last 3 weeks.
Add some F @6.27 eom
It follows oil pricing, so who knows? Personally, I think oil is overpriced right now, but the dollar keeps sliding, so it may keep on going up. We'll see.
In DCR @.92 eom
Out IDEV @1.36 & 1.38 eom
Thanks, I'll check out DCR. Groppe called for a "super spike" over 100$ last year too, but he now thinks it's overdone, and oil will drop to 70-80 and average there for the next 10 years.
As far as PEIX is concerned it looks like the chart has, or is close to being bottomed. As far as ethanol is concerned, it's not real efficient. It takes nearly as many BTU's to create the stuff with corn as it gives back. The price of corn keeps rising, so that makes the economics even worse!!
Too bad we can't grow sugar cane here in quantity. Brazil's ethanol production is very efficient just because of the amount of sugar the cane yields.
I wouldn't bet on oil to keep going up, at least not this year. There's actually a glut of it right now, as storage at many of the refineries is at max, and it's actually tough to sell oil right now in many parts of the US.
One of the best forecasters in the industry is Henry Groppe, of Groppe, Long & Littell. He has been at it since 1955, and I have attended several sessions with him over the years at our oil and gas association meetings. He accurately predicted the rise to 50$ (when oil was 17$) a few years back. Everyone snickered. He was right again. Last March, he showed how WORLD oil peaked in November and has since declined, there is no shortage, and to make a very long story short, (his presentation was over an hour) he said oil should drop to 70-80$ by the end of summer. (Unless the hedge funds keep pushing it up, or there is a war with Iran etc). I've been in this industry for 26 years, and what I am seeng, I am suprised it's over 60$.
Try some IDEV @1.23 eom
Looks to me like it got overly-pummeled, but we will see.
Got a little FVRL @.08 eom
Add F @6.74 eom
Stopped out of DUG and QID both. This absentee trading ain't working. It's tough to play this game when you're drilling two wells at a time!
I did ok a couple times with SRS, but these two don't make much sense.
I'm not doing very well with these damned Proshare ETF's lately. They aren't following what they're supposed to be following.
In DUG @28.97 eom
In QID @40.30 eom