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Remember when Oil was $147 barrell just before the banking collapse? Seems as if they jammed the SPR, floating tankers, any unfilled hole full of oil for profit. I agree with your philosophy completely. If they let the oil flow the money is in the cleanup.
For every action there is a reaction. Who knows what reaction denotating any bomb at that depth would follow. An underwater earthquake maybe who knows. Former Shell CEO has been discussing using supertankers to gather the oil/water mixture. Sure makes since apparently it has been done before. Probably not cheap but i dont think cost should be a determining factor at this point. Too much time has passed.
I've come to the conclusion we are going backwards in technology. 1979 oil spill had more of an effort and more resources to keep oil off the coast. The old saying prepare for the worst and hope for the best should have been implemented day 1. Whatever it would have taken to keep oil away from the beaches and marshes. This is 2010 for gosh sakes!
Sure hope your wrong. It has taken over a month just to get to this point. I remember when Katrina came ashore watching the outgoing traffic jams saying to myself just open up both sides of the damn highway oneway for gosh sakes. Just do the simple common sense things at least. Got the same feeling except worse weeks ago watching the government and BP tie this up in red tape and lolly gagging. Only thing i can figure is there must be a chitload of money in the cleanup or somebody must have been damned determined to ruin the gulf.
Market must be saying we are in for a double dip coming soon. GS only 5 points off a 52 week low. Financials weak.
Wondering if that video feed is live or is it memorex?
Question is who in the he-ll gave em the keys to the car. Maybe the DMV should be in charge of the deep water drilling in the Gulf. We are poking holes almost 1 mile below the ocean surface without a clue of how to plug it apparently if a disaster occurs. 1969 men walked on the moon. Now in 2010 we cant stop a leak that we created without burning enough wasted time to ruin an entire ecosytem.
Deepwater Horzion operated under the flag of the Marshall Islands wherever the hec that is. Just learned that from CNN. So you have Transocean a Sweedish based company, BP a British company flying a flag from some country i never heard of poking holes almost 1 mile deep under the ocean just offshore and for 33 days now we have relied on these people to stop the leak. Makes no sense.
Looking back in history the month of June brings about a 40% shot of having a named storm in the gulf. With this mess still gushing need some luck to at least hopefully get a handle on this before the season really kicks in August-September.
http://www.weather.com/outlook/weather-news/news/articles/june-tropical-climatology_2010-05-21
The original interview i saw he was pointing the finger at Transocean. Who signed the original permit for this well in the first place? There is plenty of blame and finger pointing to go around but somebody needs to find a way to cap this now. Fuk the studies and fingerpointing we are dealing with a major economic disaster and it needs to be dealt with as such as it should have been day 1.
I guess the Gulf is not viewed as "Too big to fail." Stunning and saddening watching this transpire. They should have gathered the best scientist and engineers the very first day and hit this disaster with everything feasible. Now we are millions of barrels deep. Tarballs were washing up on a southeastern NC beach last week. They say its unrelated but the gulfstream is not that far offshore. Parts of the OuterBanks are less than 10 miles from the gulfstream. This a not only a gulf disaster but could affect the entire east coast.
Whatever it was a trip to the hardware store to buy a Victor and a trip to the local supermarket to purchase some peanut butter(app $5 taxpayer) would nip that photo opp problem in the bud. That or a good stray alley cat save the $5 taxpayer and apply it to the defecit.
RBOB gasoline gutted to $1.96. That should equate to parts of the country seeing $2.50 at the pumps Memorial Day weekend. Roads probably will be packed.
All that time spent on keeping it Nasdaq listed and now 1.39? I think you will see a huge bounce somewhere in here.
They should have thrown everything and everybody but the kitchen sink at this disaster from the get go. This has been a lethargic effort at best. From what I've seen the parties involved are either too busy pointing the finger, patting each other on the back to the public media, or turning there heads completely doing so called studies. None of which helps the people in the gulf states or the ecosystem. Either those involved dont have a clue or they are destroying the gulf on purpose. I dont understand why in the hec we are drilling 5000 feet deep in the first place with no better disaster plan than this.
New 52 week low. Down another 7% today. 1.96x1.97 interesting.Big order on the ask gonna push it down again. Forward PE below 5?? and showing a book value $2.47?? 95% of the float held by insiders at last glance. Strange pup.
Shaping up to be a down op ex week which has been about as rare as a Bigfoot wearing UGGS sighting.
Washed out and hung out to dry low 2's. No selling No buying pretty much no trading.
Could be because no shares down here or could be no interest.
Just keep in mind ETrade has the commercial with the baby taking First Class drinks from Martha because they executed his stop loss orders and saved him a bundle. Took a class on subliminal adverstising many years ago comes in very handy today listening to commercials. Etrade Scottrade Ameritrade accounts have been quite the target for the last decade. Easy prey for the big boys especially the marginers.
Last Th was the crookidiest(not sure thats a word) bunch of BS i have seen in sometime. So now that opens the door for more FINRA? ruhht rohh.
CSCO a no go. Rally is over. VPHM uptrend. Lots of broke stocks. GOOG GS USO to start. Nat Gas also looks to be in an uptrend.
If Bernie heres about all the billions or trillions taken out in stop losses only to see the market higher 4 trading days later he might pull a jailbreak. Thats much better than what he had.
The house has brought the casino back to 12:30pm Thursday. Except for all the stops that were taken out it never happened.
Alaskan Shepard. very rare breed. matter fact he is the only one because i just made the name up. loves the beach, sleeping in, and truck rides with the window down.
Not a big believer in "coincidences". Usually things that happen happen for a reason. The last year is the most crooked market i have seen in 9 years of dabbling in equities. Its almost like rules are being made up as they go along. Also get the feeling they are not too happy with small traders playing in this market.
Speaking of bottoms the day before the underwear bomber bloomers failed to blow up there was huge activity on DAL puts. Never heard nuttin about that but to be sure someone must have run that info thru there database.
Next time i build a house going to rig the circuit breakers to shut off after 2:30pm in case i need to overload the circuits burn it down and collect insurance money. Nahh i am too nice a guy couldnt even think about it.
SPY QQQQ went right down to there moving averages on the weekly and bounced in a matter of minutes. Maybe a coincidence but your theroey right or wrong sounds much more feasible.
Interesting how stocks hit exact round numbers SPY 105 BAC 15.50 AAPL little less than 200 for example. Weird day and weird week.
Saw -990 on the Dow less than 10 minutes ago. Now -544?
Meridith Whitney was on the pop and smack channel earlier negative again. She has been wrong for about the last 2k points sooner or later what she says will take hold. Very similar in reverse to talking head Dick Bove when he was calling a reversal mega months ahead of the turn in financials. All talking heads to set up both sides of the trade imo.
Looks like a big Ringling Brothers circus act to me. Smack the big Goldman Sachs as a means to jam thru more control and financial legislation. Throw in some juicy emails. Feed the media with more SEC porn data to pass down to the public. Create a circus atmosphere then turn around and do what you want.
Retail takes the bloated trophy imo. ANF GYMB HOTT TLB WMT CROX just to name a few. Tax refunds gave a jolt to pent up demand. That is wearing off pretty quick judging from a trip out and about the last few days. Looks like EBAY may be getting in front of the rosy guidance curve with some honesty.
I attended the same prestigious universtity for a couple of years as the lovely lady. Never ran into here once and was out and about quite a bit. Should have zigged instead of zagged i guess.
5 Kentucky underclassman headed for the NBA. I think you will see more under the radar upsets in the coming years. Duke was no goliath as the media portrayed them going into the final game. Just a solid well coached team who played great in the right place at the right time. Same with Butler.
2 eagles. That sure helps getting the cobwebs out. Weather looks to be smooth sailing all weekend. Whoever wins might break the record. Tiger -18 in 97 and the Golden Bear -17 in 65. Advertisers must be drooling at this setup.
David vs. Goliath headlines abound! Gotta give vegas some credit. One touchdown spread. Seems pretty reasonable.
Underated and not enuf appreciated. They nailed it. eom.
Seymour seems more hungry than usual. High short interest stocks, bottom fishers, skirt chasers be wary. At least classic music lives on.
End of quater window dressing after wiping off the deck chairs with Greek Week. I dont think this health care will ever come to fruition. This country was formed as a free nation and if the majority of the population is not onboard it cant happen.
Dow up almost 1k since the Greece bottom. Market goes from a global meltdown to irrational exuberance quicker than you can turnaround.