There's a chess game afoot and right now OPEC has everyone in the world in check.If our illustrious Leader of the free world would put some sanctions on the Saudis he could possibly persuade them to back off their production.The Saudis are trying to get the world oil markets to blink....they want them to reduce production ,,,then they will reduce ????? Seriously?
The Saudis have had the pedal to the metal on oil production over a year trying and succeeding at putting small to medium size oil compnies out of business.They have stressed the entire world oil market by pumping oil at cheaper prices and barely ,if at all,making a profit on all the oil they are pumping.They deserve to be squashed.
Of course our president has no balls to do anything and won't even say the words ,"Radical Islamic terrorist" so what else can we expect.I wish trump was president because I think he'd put the squeeze on OPEC ....I mean really,,,,,who the F do they think they are?
Anyway,back at the ranch ,,,,,I am hanging my hat on ION because I think they are still undervalued and even with depressed oil prices should be well over 1.00 a share ......in waiting for oil prices to recover.They have said several times on several different conf. calls that their business is scalable,so I have no problem with believing they will meet bond payments etc,even if oil prices dropped further.
You can almost feel the tension ,,,,OPEC is playing pyschological games right now but behind the scenes I think they are hurting and they need to take their foot off the gas to help prices stabilize higher.They are losing a lot of money by pumping so much at depressed prices ,just to make a point and keep their "share" of the market.Ridiculous.......A child could do better.
ION will survive ,,,,they have needed DATA and are a specialized company without a lot of competition.......so it is just a matter of patience ,something I lack generally but I will remain firm in my commitment on ION.
The price could do anything right now,,,I can't control the price of a stock any more than MGMT. can,,,,,perception is reality;If I get the chance I will buy more here or lower or higher for that matter,,,,,considering once all this hoopla and chess gaming comes to a head ,oil prices recover,,,,,,,,and ION goes much much higher back to prices 5 years ago at 14.00 a share.
They are lean right now and have cut the fat so when oil prices do recover they will be sitting jake and be able to make huge profits.Businesses wil be scrambling for their services and data once OIL rebounds.
OPEC today was just another temporary setback in the big chess game of oil.Good luck ........I'll stay put and buy more if/when I can.
