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CELG is down 2.67% and going lower. (46 - 1.26 points).
Out of PTR at 50.20 - Will look to reenter later.
PTR now down 3% but the opening price was down nearly that much at 51.75. CEO down 70 cents (42.95).
BP is down 43 cents in premarket. (49.65 - 0.43). BP was one of the few companies on the "all-time high" list on Friday.
Top al-Qaida terrorists may have escaped Pakinstani soldiers using secret tunnels -- MSNBC.
FTSE, DAX, Nikkei and the Hang Seng down today. FSTE down 1.7%, DAX down 2.3%, Nikkei down 0.9%, Hang Seng down 1.9%.
Zeev - You won't see prices on CEO and PTR until the stocks start trading, but both closed down in trading in Hong Kong.
Hamas leader assassinated by Israel helicopter gunships and this act has an effect on Europe and (soon) the US markets -- down for awhile.
China puts army on combat alert over Taiwan. (She can also "enjoy"
my 200 shares of PTR - pulling out of China for a while.)
Chinese oil stocks closed down in Hong Kong. CEO dropped 0.83%, PTR lost twice as much (-1.83%).
Kurt Wulff's latest Meter Reader:
March 16, 2004 (posted Mar 21); Meter Reader: Big Buck Alternative Investments
http://www.mcdep.com/MR40316.pdf
OPEC is hitting its output limit for the crude oil used to make gasoline, and refining capacity is growing tight, even as the cost of oil nears a 20-year high. WSJ 8.23 p.m.
Kurt Wulff downgrades MRO on "lower reserves" and I'll do the same.
If you care to read his posting, the details are here:
March 21, 2004 - Stock Idea: Marathon Oil - Discontiue Buy Recommendation on Lower Reserves
http://www.mcdep.com/mro40219.pdf
There's Gold in Rising Gasoline Prices, WSJ Sun 1201 am
http://online.wsj.com/article/0,,SB107981946032361000,00.html?mod=yahoo_hs&ru=yahoo" target="_new">http://us.rd.yahoo.com/finance/external/wsj/SIG=11vo25qcm/*http://online.wsj.com/article/0,,SB107981...
Zeev - You've earned it (g)
"Soaring Oil Greases Stocks' Skid"
http://online.wsj.com/barrons/article_print/0,,SB107974198416860774,00.html
Eric Savitz, in the current Barrons, quotes two analysts who recommend buying four oil stocks: AHC, DVN, MUR, and PBR.
He also quotes another anaylist, Rob Cihra, who is bearish on AAPL.
Ken Heebner, head of CGM mutual funds, is bullish on PD and USX (among others), but is moving away from metals to oils.
cash2go - What is your opinion of Oil Stocks vs price of Crude Oil? In yesterday's edition of Real Money, Fitzpatrick mentioned two oil stocks in my portfolio - BP and COP. Can you -- or anyone else -- read this piece:
"Bulls Have the Long-Run Advantage"
http://www.thestreet.com/p/pf/rmoney/danfitzpatrickrm/10149770.html
(Free copy available on Yahoo.)
As long as the price of Crude Oil stays above $35 dollars, I'd rather not sell, but need independent views.
Latest "scuttlebuck" on ASH, CVK and MRO - CVX will buy ASH and MRO ! Not sure what the final outcome would be. (Own 200 shares of CVX and MRO.)
skono4 - Agree with you on COP. First went in at 49, added more at 67.11. Should go to 75 before June 30. Don't know what CVX's plans are with DYN.
skono4 - What's your point? All of the major oil holdings went down today. Try XOM, CVX too.
When you're done playing around with NGAS, why not put some of your "hard-earned" play money into AVN_u.TO. Printed another new high today, up 23 cents to $C18.58.
http://finance.yahoo.com/q?s=avn_u.to
(Pays a monthly dividend of 23 Canadian cents. Own 7000 units based on profits earned speculating in E&P stocks.)
XOM down 96 cents, and pays half as much as SC. If you had to choose a major oil stock, what would it be?
(XOM at 41.50 vs SC at 40.25.) Think I'll add more of the later next week.
SC closed down 25 cents. (The expected "sell-off" happened yesterday.)
TMA closed at an all-time high. (Only stock in my port to execute this feat today.)
cadman - Me too. I'll let you know. (MRO won't drop 5% today.)
Thanks. Read this as well and may dump MRO, but can't decide on the spur-of-moment. Hell, it might be a buy at a 5% discount! ASH sold its remaining stake because it needed the cash.
Got the explanation re: MRO - Buy ASH, sell MRO to make money today.
caddman - Own 200 shares at 25. Surprised me too. No explantion but so many things going on (proposed deal with Libya, gas in Asia etc.)
NGAS hits 6, may go higher. ECA said it needs new sources of gas, and Daughtery may have found some. (ECA is up a mere 36 cents on a much higher price/share.)
Congrats on NGAS. Hope it works out for you. (May join you next week, if the "gas reserves" are actually where management says they are.)
"Refiners are up 2.6%" said Briefing. VLO was up to 59.70 (vs high of 61.50) but now can be had for 58.74 (gain of 36 cents on the day).
Thanks. Radio should have listened closely, even if was the BBC.
Radio reports that several loud explosions hit the center of Bagdad.
Thanks again, Dan. Roach is a favorite of mine, even if he exaggerates the "gloomy" side.
KLAC is now down 2.32% (50.94). Moving higher?
As long as oil will go to 40 dollars, no reason to sell SC. Other major oil stocks moving higher. (SC is down 22 cents).
Knew today was down for most tech stocks. KLAC one of many...
NGAS up 13%. (Slight uptick in 3 stocks mentioned earlier.)
After half-hour of trading, CEO up 60 cents, PTR up 28 cents, SC down 16 cents. (Improvment on SC premarket.)
Daugherty Resources (NGAS) is a low-priced E&P screemer.