Replies to post #152 on Energy Select Sector SPDR (XLE)

[zsvq1p]

I'm thinking we are near if not at the bottom.
The question is do you think the virus is as bad as many folks are saying. I personally think it's overstated. But companies are reacting negatively that will obviously harm our growth.

1) We have OPEC and Saudi's piss at Russia. They threatened to increase the production of 2.0 million BPD above its current output. That caused the crash beyond the virus stuff.

2) We have OPEC and Saudi's wanting to put the US shale biz.. out of biz.

3) We have these smaller producers in the US borrowed up to their ass now trying to protect and just be trying not to go out of biz.

4) We have Both Russia, OPEC and Saudi's needing the cash so as not to that could cripple these countries' economies. (THEY MUST MEET)

5)IMO, we have an overstated fear of the virus. (DEMOCRATS WANT TRUMP FAILURE THIS BAD)

6) We have a President who "says" he is going to bail out the industry.. but IMO is complete BS.. we shouldn't. Plus we know TRUMP is a bunch of Hot air many times. (TRUMP WANTS LOW PRICE BUT ALSO DOES NOT WANT THE BANKS TO FORCE PAYMENTS ON THE HOCKED PRODUCERS)