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I recall the industry itself saying oil had peaked. LOL. Can't trust anyone.
My thoughts are, the lower it goes, the more shares can be had for the divy.
If 2.40 doesn't hold then most likely 2.21.
I'm looking at 2.45ish if oil doesn't go lower.
Up too fast. Had to retrace.
MW UPDATE: OPEC oil output falls 130,000 barrels a day in December: Oil production from the Organization of the Petroleum Exporting Countries fell by 130,000 barrels a day in December from a month earlier, to 32.28 million barrels a day, according to a Platts survey of OPEC oil industry officials and analysts released Friday. Platts attributed the decline to output cuts in Iraq, Nigeria and Saudi Arabia. The Saudis lowered output by 50,000 barrels a day to 10.1 million barrels a day, but haven't given any indication that they are ready to abandon the "market-share strategy that it persuaded OPEC to adopt in November 2014," Platts said.
WTI gap closed on the Daily.
I'm looking for 2.45.
Are they gonna run this stuff sideways until 2pm?
Sounds like a plan. Already well in the green on the D.
I switched to the D. Tight stop just under 300.
Good target. I am looking to add 3,000 more shares for 2.25. Remember too, the divy will be bumped back up as oil recovers. .56 was incredible.
You obviously have not watched the clips. I suggest you do and then we can talk about it. Cramer walked off that show with his tail between his legs.
True dat.
2 O'Clock hour should be interesting.
The market already knows about Iran.
"I know the guy is absolutely brilliant" You're talking about Jim Cramer? Pull up the youtube clips of Jon Stewart shredding Cramer to pieces. Cramer is a total idiot who's put many of the sheep in the poor house.
I'd wait for 330.
Not sitting on near as many shares as I'd like, but I limited risk by holding a small position. Will add on the next retrace.
Get ready for big swings. It won't go straight up. 30 will be a challenge.
Well, nobody is right 100% of the time.
Has the selling dried up? MW March WTI crude turns back up again, adds 35 cents to $28.70/bbl
All good stuff there.
Ooops, sorry. I should have asked, why screw with it?
I'm looking at it like 2008/9 when everybody was saying the banks would fail. Citi was 50 cents and went up to 50 dollars. This "glut" is fabricated same as "Peak Oil" was. The big boys playing games.
We've been through this discussion a zillion times here so we will just have to disagree.
The big boys are tricky.
It doesn't matter.
I am! The cheaper it is, the more shares, the more the dividend payout is. Plus the rebound.
I'm ready to add with any sign of reversal.
It's never been good. Under Dumbsfeld & Co. troops had to buy their own armor. The vehicles weren't reinforced and they had to keep asking, why are we here again?
Leave a small position that won't break the bank. You'll catch the reversal. Better than not catching it at all.
NUGT has entered no-man's land.
DJ Iran Cuts Oil Prices in North West Europe, Mediterranean in Feb
I've been saying all along that this oil price situation is fabricated just like Peak Oil was.