Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
buying zsl.. Just looked.. think I will pick up a few too.
Buy: 80.86
Gonna let that gap near fill sell at 89.95
Websites with properties...
http://sitestar.com/rentals/
http://sitestar.com/properties/
Oil coming down is great for the US..
I can remember these kinds of warning over and over about the housing bubble..
It took years. The key questions.. How long? When?
Oct. 17, 2013, 3:19 p.m. EDT
Oil falls closer to $100 as U.S. supplies jump
Prices drop despite debt deal as demand outlook remains uncertain
By Myra P. Saefong and Victor Reklaitis, MarketWatch
SAN FRANCISCO (MarketWatch) — Oil futures fell toward $100 a barrel on Thursday, settling at their lowest since early July, after a trade group reported that U.S. supplies jumped much more than expected last week, and as traders bet that the U.S. economy and energy demand took a hit from the U.S. government’s shutdown.
Crude for November delivery (NMN:CLX3) dropped $1.62, or 1.6%, to settle at $100.67 a barrel on the New York Mercantile Exchange after tapping a low of $100.03 during the session. Prices settle at the lowest for a most-active contract since July 2.
“We tested $100 a barrel today and we feel we will break those levels in the days and weeks to come, basically on the fundamentals (increasing inventories) and the economic impact the shutdown had on the U.S. economy,” said Tariq Zahir, managing member at Tyche Capital Advisors.
On ICE Futures, December Brent crude (IET:UK:LCOZ3) fell $1.48, or 1.3%, to $109.11 a barrel.
AFP/Getty Images
Oil falls toward $100 level as U.S. supplies climb more than expected last week.
“It’s a bit like that old saying about selling on the bullets — traders seems to have decided to flee riskier assets on confirmation of the deal,” said Matthew Parry, senior oil analyst at the International Energy Agency in Paris.
Congress voted Wednesday to reopen the government and raise the nation’s borrowing limit.
Analysts at Commerzbank wrote in a note on Thursday that oil has pulled back now that the deal is done in Washington because traders have decided to “buy the rumor, sell the fact.” That type of reaction, also called “sell the news,” looked to be the case for U.S. stocks as well.
But some fears over the economic outlook have been triggered by the news that a Chinese ratings agency is lowering its U.S. rating, Parry said, adding that those fears are likely overdone. Rating agency Dagong on Thursday reportedly downgraded the U.S. to A- from A. Read about what oil traders may focus on next.
Supplies jump
A jump in U.S. supplies also weighed on oil.
Earnings Wall Earnings Wall
Discuss key earnings announcements before and after results come in. Learn more
Key reports we're tracking right now:
UTX | LMT | PNRA | DAL | DD
/conga/story/misc/earnings_wall_threewide.html 283955
Late Wednesday, the American Petroleum Institute report showed that U.S. crude stocks grew by 5.9 million barrels for the week ended Oct. 11. Analysts polled by Platts expected to see an increase of 2.25 million barrels.
The API also reported that gasoline stockpiles fell 2.2 million barrels while distillate supplies fell by 1.3 million barrels. Analysts expected gasoline supplies to be down 400,000 barrels and looked for a decline of 1.3 million barrels in distillates.
On Nymex, November gasoline (NMN:RBX3) closed at $2.65 a gallon, down over 5 cents, or 2%, and November heating oil (NMN:HOX3) lost 5 cents, or 1.6%, to $2.99 a gallon.
Similar supply data from the Energy Information Administration wasn’t released Thursday because of the shutdown and neither was the weekly natural-gas storage report. Nevertheless, analysts polled by Platts were expecting to see an increase of 75 billion cubic feet to 79 billion cubic feet in last week’s natural-gas supplies.
November natural gas (NMN:NGX13) settled at $3.76 per million British thermal units, down a penny, or 0.3%, on Nymex.
“Schedules for the resumption of the reports will be announced as they become available,” EIA spokesman Jonathan Cogan told MarketWatch, in an email. The latest petroleum status report was due for release Thursday, a day late because of the Columbus Day holiday.
James Williams, an energy economist at WTRG Economics, said he estimates, based on the EIA’s normal processing schedule, that the report may be released Monday. But there’s also a possibility the data will be in a combined report Wednesday, when the next report was due for release, he said.
Economic news on Thursday wasn’t very supportive for oil’s demand outlook. The latest report on weekly jobless claims showed a decline, but not by as much as analysts expected and jobless claims remained elevated because of processing delays in California and layoffs related to the government shutdown.
Other data showed that the Philadelphia Fed’s manufacturing index dropped to a reading of 19.8 in October from 22.3 in September, but topped a MarketWatch-compiled economist forecast of 15.0.
On Wednesday, oil prices rose 1.1% to $102.29 as lawmakers announced a deal to reopen the government and temporarily lift the U.S. debt limit. The Senate and House passed the bill late Wednesday, and President Barack Obama signed it into law early Thursday, shortly after midnight.
Recent talks between world powers and Iran over the country’s nuclear program has also weighed on prices for oil as worries over supplies in the Middle East eased. The talks resume in November.
Oil’s move Thursday came basically on the back of “higher supplies, uncertainty about the government and chances for a real recovery, and the possibility that Iran might actually cut a deal on the nuclear issue,” said WTRG’s Williams. “If Iranian sanctions are lifted, we would soon have another million barrels per day on the market.”
Opec warning of $150 oil price if member countries cut investment
April Yee
October 21, 2013 Updated: October 21, 2013 19:53:00
Oil prices could top US$150 if Opec countries stop investing in new capacity, warned the head of the oil exporters’ group.
Although the market was currently well supplied, said Abdalla El Badri, the secretary general of Opec, his comments underlined the group’s importance in global markets. OPEC faces increased competition from rivals reaping the benefits of fracking technology, allowing long-time clients, such as the United States to decrease crude imports.
“While recent developments in the US have been transformative for its energy industry, we need to see how sustainable this type of production is in the longer term,” he said at a forum hosted by Gulf Intelligence in Muscat.
“Tight oil wells in the first year witness steep decline rates. It means that operators need to ‘drill, drill, drill’ just to maintain production.”
Opec will have to ramp up production from today’s levels of around 30 million barrels per day (bpd) to 37 million bpd by 2018 to make up for declines in North American production, said Mr El Badri.
In the short term, Opec producers are forcing themselves to undergo a self-examination as rising production in North America negates the need for some of their exports.
Non-Opec producers, led by shale oil developers in the US and Canada, are projected to boost output by 1.7 million barrels per day to 56.4 million next year, according to the International Energy Agency, the Paris-based watchdog.
Next week Abu Dhabi’s Emirates Center for Stretegic Studies and Research is to host a forum on what unconventional fossil fuels mean for the region.
“Let me stress here that this is a welcome development,” said Mr El Badri. “It adds depth to global supply, aids market stability and provides further proof to consumers that the world is not running out of oil. We hear very little talk of ‘peak oil’ today.”
An oil price between $100 and $110 a barrel was “acceptable” to producers and consumers alike, he said. Brent crude was trading slightly up yesterday at $109.97 in London.
“The economy remains the major worry, particularly in the short and medium term,” said Mr El Badri, pointing to the US, Europe and China.
Come on down to papa.....
Use the shutdown.. the press of it all it means. People are paying taxes.. I am not falling into the trap.. 80% already "side" funded.. it is all games.. Obama won't budge nor GOP.. Why not? When market gets lower line I'm buying.. more. IMO
$70 is the target
Where are we going?
No..
I am in several divvy type things..
nice call...
still ok...
Finviz calls double top...
So they say buy ERY.. ERX going down to maybe 65? We'll see.
good one...
Oil seems way oversold to me???
The US economy cannot take $110
Might be a time to flip it to the short?
Ed.. saw your post, looked at it.. popped it.. and won.. lol.. thanks
What a great run... I think soon to top out.. This price is going to stop buying by consumers.
Old news having huge future effect...
This is my prediction.. You can make some money on this but not a lot... Pick the low of what is about to happen.
I have no doubt it is going below $1 in time. Unless they can find a buyer, they will be out of cash in 24 months. They need to raise some money right?
We've had two chances to make a buck so far...
I think they want it up so they can sell those shares. It seems t me these kind of companies are slow bleed until some gimmick PR or something... Bottom may be about $1.40 again before the work it back up. Have your limit sell in to make a profit... then re-enter.. might make a mortgage payment with this kind of move..
They are going hard not to get it below $1 (delisting rules)... keep that in mind. But I say we might bounce off it a few times.. We'll see.
Just saying seems like this happens a lot to stocks like these.
$40,000,000 of Debt Securities Warrants to be issued.. I see this one might pop but when it does you sell... IMO, it won't be long until this drops to under a dollar and reverse splits.
http://www.sec.gov/Archives/edgar/data/1378140/000119312513046221/d470211ds3a.htm
They are doing this because in 2 years they are out of cash.
This company needs some sort of real revenue growth. Some Utility needs to buy into it. I have been watching this stock for years.. same ole same ole... High priced "Green" just does not make sense in our country.
flip it or you lose.
Z... as far as I know, there is no product to duplicate the price of spot oil.
I like these ETF's but only warn that this product is not what you might expect. They do not follow true spot WTIC oil if you hold this product over a day.
This is what happen if you owned this for the past 12 months vs had you really owned oil.
My favorites, but very risky, is ERX. Why? It will follow the real trend of WTIC.. but it is a triple!!! The red and black is WTIC trend and blue is ERX.
It will go back up...
OPEC May Cut Supply to Hold Budgets at $99 Oil: Apicorp
OPEC will probably cut output if Brent prices keep trading below $100 a barrel because that’s less than what many member countries need to balance their budgets, an inter-governmental Arab energy lender said.
Oil prices must average $99 this year for the 12 members of the Organization of Petroleum Exporting Countries to be able to balance their national budgets, said Ali Aissaoui, a senior consultant at the Arab Petroleum Investments Corp., or Apicorp.
“OPEC will definitely need to cut production to shore up prices as they can’t produce at prices close to their break-even level,” he said today by phone from Khobar, Saudi Arabia, where the bank is based.
Saudi Arabia, OPEC’s largest producer, needs an average price of $94 to balance its budget, according to Apicorp estimates. Iran requires oil at $125 to break even, or almost double the level needed by Qatar, Aissaoui said. The break-even level represents the price sought by the government, not the actual cost of producing oil.
Brent crude for June settlement fell 95 cents to $98.96 a barrel on the London-based ICE Futures Europe exchange. The front-month contract fell below $100 yesterday for the first time since July. OPEC’s basket price, which represents the group’s export grades, has also fallen below $100.
Inventory Levels
“If Dated Brent slips further, this would shift the futures market from a long period of backwardation to a contango position, thereby encouraging the accumulation of inventories in the physical markets,” Aissaoui said today in a an e-mailed note. A contango and rapid accumulation of inventories would make it harder for OPEC to stabilize prices near member nations’ desired break-even levels, he said.
Saudi Oil Minister Ali al-Naimi said on March 18 in Hong Kong that Brent crude at about $100 is reasonable. Venezuela supports a price floor of $100, oil minister Rafael Ramirez told reporters in Caracas on April 15, adding that he thinks all OPEC countries agree with this price.
Al-Naimi said in his Hong Kong speech that Saudi Arabia is concerned about global economic growth, not about maintaining oil prices at any specific level. Any suggestion that the nation is trying to keep prices high to finance domestic spending is “not realistic,” he said then.
OPEC’s members are Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela. The organization’s next ministerial conference will be held on May 31 in Vienna
Very good.
I tend to switch between ERY and ERX. I agree about the global cycle.. I wish I could make a call.. I use the housing bubble as an example.. we all knew it was coming. It lasted for years before wham.. Too late if you are in on the wrong side. I think we continue bear for a while though... I will take a leap one way or another soon.
Nice call on this Billy..
I think it is now a buy... Oil at 88 and UCO at 26...I have been fortunate when buying at these level.. keep averaging too..
Continues to be strong.. I really like this ETF. About a $.20 divy each month.
The ECB is expected to keep interest rates unchanged at its policy meeting on Thursday. So.. same is good?
Global shares, euro edge up ahead of ECB meeting
By Richard Hubbard
London | Thu Feb 7, 2013 4:52am EST
London (Reuters) - The euro and shares inched higher on Thursday, as investors awaited the European Central Bank's policy meeting later in the day and President Mario Draghi's views on the region's growth outlook.
Testimony from the new head of the Bank of England, bond auctions by France and Spain, earnings reports from a host of major European companies and the start of a two-day European Union summit provided more reasons for investors to be cautious.
The euro edged up 0.3 percent to $1.3570, holding above this week's low of $1.3458 plumbed on Tuesday but well shy of a 15-month peak of $1.3711 set last Friday.
The common currency has now soared 20 percent against Japan's yen in just three months, risen 8 percent on sterling and 7 percent on the dollar, increasing tensions among policymakers across the recession-hit region.
The gains have put the spotlight firmly on ECB president Draghi's 1330 GMT news conference, which follows the bank's meeting where interest rates are expected to be left unchanged.
"Draghi has to be very careful because it's a very sensitive time in currency markets, and investors will be looking for any hint of the ECB's thinking on this issue," said Ned Rumpeltin, head of G10 FX strategy at Standard Chartered Bank.
"It is probably the wisest path for him to avoid the debate on the currency at this point in time."
At his news conference last month, Draghi read out a G20 statement on exchange rates in which members pledged to avoid competitive devaluations. With another meeting of the group due next week, it's likely Draghi will keep to this line.
BRITAIN VIEW
Ahead of the ECB meeting, the man about to take the helm at the Bank of England, Canadian Mark Carney, faces his first public grilling about how he would revive Britain's stagnant economy.
Carney, the first foreigner to run the bank in its 318-year history, faces a three-hour question-and-answer session that could also signal how he will bring his banking expertise to bear on the UK's crisis-hit banks.
The Bank of England also holds its monetary policy meeting later. No policy changes are expected at the BoE's monthly meeting, with an announcement due at 1200 GMT.
The UK central bank is unlikely to change interest rates though to signal an unchanged monetary policy stance it needs to announce fresh purchases of bonds to maintain its stock at the current level of 375 billion sterling.
Ten-year gilt yields were 1 basis point lower at 2.09 percent ahead of the testimony and the bank's announcement.
German Bund futures reflected the cautious mood across all markets, edging up 5 ticks to 142.61, with attention on reaction to a Spanish sale of 4.5 billion euros of new debt.
Increasing calls for Spain's prime minister Mariano Rajoy to resign over a corruption scandal may have hit investor demand for the bonds, which saw higher yields at the sale. <GVD/EUR>
Ten-year Spanish government bond yields were 3.7 basis points higher at 5.48 percent, while two-year borrowing costs rose 1.9 bps to 2.89 percent.
SHARES STABLE
European shares were mostly little changed, stabilizing after sharp losses in the previous session, as mixed corporate results and rising economic concerns in the euro zone added to the nerves ahead of the ECB meeting.
The FTSEurofirst 300 index finance/markets/index?symbol=gb%21FTPP">.FTEU3 of top European shares was slightly higher in early trade, despite disappointing results from French pharmaceutical group Sanofi (SASY.PA), telecoms firm Alcatel Lucent (ALUA.PA) and Credit Suisse (CSGN.VX). .EU
London's FTSE 100 .FTSE, Paris's CAC-40 .FCHI and Frankfurt's DAX .GDAXI were all around 0.1 percent higher.
"The medium and long-term positive trend is still intact, although on the short term, we're turning 'neutral'; indexes are very close to key support levels," said Aurel BGC chartist Gerard Sagnier.
Commodities markets were all trading within tight ranges, with investors' attention firmly fixed on the currency implications of anything the ECB's Draghi might say.
The euro often dictates gold's movements in particular, and ahead of the meeting it had inched up to about $1,680 an ounce.
"Gold is very much dependent on the outcome of the ECB. I don't think today they will give us a clear indication whether the euro is indeed overvalued," said Joyce Liu, an investment analyst at Phillip Futures in Singapore.
"If they try to weaken the euro because the economy hasn't bottomed out, then in that case, it's possible gold may go up a bit."
Brent crude was steady in a tight range around $117 per barrel ahead of the meeting. <O/R>
Brent has gained over the last three weeks as positive data suggested the global economy had turned a corner, which augurs well for fuel demand, while supply worries stemming from tensions in the Middle East have also supported prices.
Sur looks like WTIC going to $100.
You could be right..
Dollar to get weak when US raises debt ceiling
When people find out they own much more in taxes for 2012 they won't have money
2% increase in SS tax make less money in all tax payers hands will do something.. I believe it will not be a good thing.
More taxes on top of that for 2013
OPEC wants prices up...
Date Open High Low Close Volume Adj Close*
Dec 24, 2012 0.319 Dividend
Sep 24, 2012 0.284 Dividend
Jun 25, 2012 0.314 Dividend
Mar 26, 2012 0.265 Dividend
Dec 23, 2011 0.277 Dividend
Sep 26, 2011 0.295 Dividend
Jun 24, 2011 0.276 Dividend
Mar 25, 2011 0.259 Dividend
Dec 27, 2010 0.247 Dividend
Sep 24, 2010 0.225 Dividend
Jun 24, 2010 0.262 Dividend
Mar 25, 2010 0.221 Dividend
Dec 24, 2009 0.222 Dividend
Sep 24, 2009 0.228 Dividend
Jun 24, 2009 0.216 Dividend
Mar 25, 2009 0.287 Dividend
Dec 24, 2008 0.354 Dividend
Sep 24, 2008 0.353 Dividend
Jun 24, 2008 0.337 Dividend
Mar 25, 2008 0.364 Dividend
Dec 26, 2007 0.367 Dividend
Sep 24, 2007 0.32 Dividend
Jun 25, 2007 0.315 Dividend
Mar 26, 2007 0.32 Dividend
Dec 22, 2006 0.36 Dividend
Oil near $94 as China inflation picks up
By PAMELA SAMPSON | Associated Press – 49 mins agoEmail0Share0tweetShare1PrintBANGKOK (AP) — Oil prices edged down Friday following a rise in China's inflation that if sustained could limit measures to support growth.
Benchmark oil for February delivery was down 3 cents to $93.79 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange.
The contract rose 72 cents to finish at $93.82 a barrel in New York on Thursday, a gain that traders attributed to a rebound in China's trade growth, which suggests a possible recovery in global demand.
Data released Thursday showed China's export growth in December more than quadrupled from the previous month's level to 14 percent. Imports rose 6 percent, after failing to grow at all in November, in a sign of increasing domestic demand.
It was tempered, however, by data Friday that showed China's inflation spiked to a six-month high in December. Consumer prices rose 2.5 percent over a year earlier, the National Bureau of Statistics said, driven by a 14.8 percent jump in vegetable prices after a severe winter hurt harvests.
Higher inflation could hamper Beijing's ability to support China's recovery.
"Although this shows greater demand in China, it also stokes inflationary fears, which might lead to some form of tightening," said Stan Shamu of IG Markets in Melbourne.
Brent crude, used to price international varieties of oil, fell 31 cents to $110.80 per barrel on the ICE Futures exchange in London.
In other energy futures trading on Nymex:
— Wholesale gasoline fell 1 cent to $2.784 a gallon.
— Heating oil was down 0.3 cent to $3.051 a gallon.
— Natural gas rose 2.6 cents to $3.219 per 1,000 cubic feet.