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looks like my fears were correct...
http://www.breitbart.com/article.php?id=CNG.cdc149211d17e9292605abc47c6a574f.721&show_article=1
Ha I'd say...
and from recent reports it looks like the spill might be worse than originally thought...
Down big in europe 5% or so... pulling back nicely.
err still wondering where the right level is to get in here... I honestly don't think this tax will happen however we could see some big pull backs just because of the overall markets and this tax combination...
I expect this to get way oversold though. Just when or at what level that is I dunno yet...
Anyone else own WFC?
I like their position in limited exposure to European banks.. but I fear they might get dragged down by the rest of the industry...
What is everyone's thoughts?
It'd be nice if we could test 20.65
then if that breaks... I'd like to see it test 17-17.50
I really can't see us getting much lower than that but if it does I'm a huge buyer at the 14.50-15 dollar level
ha if things continue as they are... 14.50 will be cheap... UK is next... And US banks have huge exposure to european banks over there... all jmho
Ha I don't put any weight on anything out of CNN.. however I do have to agree with you.
Few nice articles to read here.
"Euro rescue package 'just buys time': Merke"
http://www.breitbart.com/article.php?id=CNG.cdc149211d17e9292605abc47c6a574f.721&show_article=1
Greece Considering Legal Action Against U.S. Banks for Crisis
http://www.bloomberg.com/apps/news?pid=20601087&sid=aDxF1YfeViEc
Euro Falls to Lowest Since Lehman as Breakup Concern Increases
http://www.bloomberg.com/apps/news?pid=20601087&sid=aqquuYOAN_sE
‘Mummy’ Merkel battered as Germans lose faith in EU
Can I ask why this angers you so much?
It looks like BP and others involved will be on the hook for every dime of what needs to be fixed here. And that the government is going to really tighten down on security and safety measures, of which they were very lax on.
I know it is very sad that this happened. and BP is part to blame. But to destroy the company as you are suggesting does not make sense.
We have already seen the Market cap be reduced by aprox 40.7 billion dollars. now I don't know about you but I would be SHOCKED if the clean up and everything cost the company 40.7 billion or reduced the value of the company by that much.
But by all means short the stock if you feel that is what is needed.
See the thing you forget is we have a nation of people who don't remember... give it a few years 3-5 and people will have forgotten this even happened. just as they did Exxon's issue.
At some point though this becomes very very attractive... over 7% yield
Ok what the heck is going on with the short interest in this stock??
http://www.dailyfinance.com/company/ehealth-inc/ehth/nas/short-interest
Short interest from April 15th to April 30th went down almost 600k shares. My guess is a large part of that took place on the 28th-30th.
it will be interesting to see if and when the shorts continue to reduce their positions here..
just watching
Oh really? Why should the US government get them?? The federal government was responsible for the haphazard approach to safety... While they ramped up oil drilling rights to BP and others without any safety checks...
"WASHINGTON — The federal Minerals Management Service gave permission to BP and dozens of other oil companies to drill in the Gulf of Mexico without first getting required permits from another agency that assesses threats to endangered species — and despite strong warnings from that agency about the impact the drilling was likely to have on the gulf.
Those approvals, federal records show, include one for the well drilled by the Deepwater Horizon rig, which exploded on April 20, killing 11 workers and resulting in thousands of barrels of oil spilling into the gulf each day."
http://www.nytimes.com/2010/05/14/us/14agency.html
oh and look at this statement from Obama on oil and offshore drilling March 31st 2010
I'd like another big selloff day on monday to make things more interesting.
Pulling back nicely.. would love to pick up some at 59. (Getting closer and closer to that target) And if it continues to pull back will pick up more at 56.75.
An oldie but a goodie
Looking to pick up some oil...
pulling back nicely
I got an odd vibe that something is going to happen in germany...
http://www.dailymail.co.uk/news/worldnews/article-1277393/We-schmucks-Europe-German-medias-verdict-anger-Greek-bailout-swells.html
What's going on in germany?? Sounds like they are not too happy with this bail out...
'We are once again the schmucks of Europe!' German media's verdict as anger at Greek bailout swells"
http://www.dailymail.co.uk/news/worldnews/article-1277393/We-schmucks-Europe-German-medias-verdict-anger-Greek-bailout-swells.html
No it won't be kept down forever.
But you have to understand they did buy themselves some time... 2-3 years time is what i'm thinking.. Look at Madoff he had a lot of people convinced things were fine for years... that's sorta what's going on here... And they just got another big deposit of 1 trillion to keep up the facade, the lies... which will work... not forever but it will and look at your quote, humans are stupid and forget.. use that to your advantage...
Now I'm not saying that gold couldn't get to 2000 an oz this year... but that's not where it will be when the $h!t hits the fan... 5000-10,000 an oz is where it will go if not higher with fears.
I see a near term pull back 108 to 113 where I'll start to buy. Could it go lower over the next few months to a year... yeah... Could it also go a lot higher, yup...
That's sorta my thought process here...
you might be right. But I think that we first have to break Dollar up = gold down mentality...
Then we need people to look forward enough...
Frankly I think we grow in the US and recover enough to make a lot of people forget about Europe. and forget about our debt.
But over the next few months I think there will be chances to get in\ add to positions
ha ya. I don't think it's a bubble yet... But we could in 2-3 years get to bubble type prices
I think there is a lot of talk today about how it's either the US dollar or gold as a reserve currency... the issue is I don't see a rush to gold happening today... I think the euro does go down from here. however I don't think it will fail for a few more years... and that could be 3-5 years off...
So we have a lot of hype today... and imo we could see some downward motion in the months to come as people wonder why this isn't going up as quickly as they thought it would, and how the risk appears to not be there any longer...
Remember people forget very quickly...
I'd like to see a pull back to 108-113 here. Ha we will see if I get what I want
I don't think today is the day to be buying gold. However over the next 2-3 years I will be buying and buying big on dips. And I think we do pull back some...
Technicals on the charts are a bit overbought. I look forward to a few weeks to a few months from now when everyone forgets what is really going on.
If you don't have a significant portion of your portfolio in gold 3 years from now you are being very reckless imho..
Money is sloshing around in the markets looking for more defensive names imho... This could give us a bit of a pull back. at which point might be a good time to look to get in...
What do you put as a cost for the oil spill? If you look back at where this was valued or priced prior to this spill was around 60 dollars a share... at 40 dollars a share that would take 62 billion dollars worth of market cap off of this stock..
So once again is this company worth 62 billion dollars less because of this spill and if not where else do u see the negative news\price action coming out of?
Ok now this is going in the direction I want. We need to break the 12.50 ish support... If we do we should be able to test around 10 bucks where I'll become a buyer
ha don't quote me on it. That's what I heard while CNBC was on the background, but I'm not sure in what regards that 75 million is the cap for.
That being said. I think BP will be liable for 100% of the costs around this oil spill.
I'm not 100% sure about that.
They were talking about liability of only 75 million on CNBC (of which there were talks to raise that to 10 billion). I had it on in the background so I could be 100% wrong. But then the senator came on and said we are going to make sure they are liable for everything, even if we have to change laws.
SO I think it can be assumed they are liable for everything.
What worries me is the talks by the senators and congressmen about this issue. One just came on CNBC saying they would make sure that the laws were changed to make sure BP was responsible for everything..
That being said I don't think BP had any idea that this could be such a hard leak to fix.
But really looking at the stock it has lost billions and billions in their market cap... At some point and I dont know what that point will be... but at some point this will be way oversold.
looks like 60 should be support here... if that breaks that high 50's should be an interesting place to start to really look at this.
pulling back nicely. I'd like to see it come down to the mid 6's. And then I'd become very interested at 5. watching
ha well it wasn't the issue last week... Clearly there was a bigger issue than you or I would have imagined or else there wouldn't have been need for a trillion dollar bail out package.
Looking interesting here. I like the chart\value here
Why in the world was this down today?!??!? scratching my head... I'd love to get involved but I can not figure this out for the life of me. Any help would be great
Stupid EU... Come on wake up people and sell sell sell.. so I can pick up some stock for 10 or below!!
Come on walmart. lets get this show on the road. Pull back so I can load up the truck.
Well it looks like we no longer have to worry about Europe... haha that changed pretty quick... so much for that fear...
in fact owning european debt is now looking like a pretty good thing towards JPM.
Oh how things change oh so quickly.
Is now time to get into solar? With the way our government is and global growth, I expect oil to jump greatly which will in turn make us hunt for other sources.
Might not be horrible to have some type of a ETF like TAN as a small percentage of your portfolio
ha hindsight is 20\20
you still in this? What is your view going forward? Still loving that yield.