Investing General Discussion

Zog · Feb 23, 2022

Moglyzoke Moogleman said:
Borzak posted this article a few days ago.

Not Even $200 a Barrel: Shale Giants Swear They Won't Drill More

(Bloomberg) -- The Texas wildcatters that ushered in America’s shale revolution are resisting the temptation to pump more oil as the market rallies, signaling higher gasoline prices for consumers already battered by the worst inflation in a generation. Most Read from BloombergRussian Media...

finance.yahoo.com

Maybe I'm reading it wrong but it looks like they don't want to crater prices by drilling, drilling, drilling.

Without reading the article, the big issue during the big "fracking boom" was they were literally profiting themselves into being unprofitable. Was around 40-50/barrel where they broke even, at least from what my memory serves. So yeah. Any surplus or a turning of the tide, so to speak and they are under water.

Sanrith Descartes · Feb 23, 2022

MSFT trying to bounce here at the intermediate support line.

Sanrith Descartes · Feb 23, 2022

And... we're red.

Kiroy · Feb 23, 2022

Mist said:
57.66 cents in Cali vs 35.12 cents in RI.

What's funny is that gas taxes in CT are actually 10 cents lower per gallon (25 cents) than in RI, yet gas prices are like 40 cents higher in CT.

It's just price gouging. The gas stations and gas companies will charge what people are willing to pay.

Price gouging huh?

This is like when you blame small business owners for inflation and post an example of some immigrant non-business owner who committed ppp fraud. You're a stupid cunt.

Mist · Feb 23, 2022

Kiroy said:
Price gouging huh?

View attachment 399786

This is like when you blame small business owners for inflation and post an example of some immigrant non-business owner who committed ppp fraud. You're a stupid cunt.

Those numbers don't match other data I'm seeing, and regardless, those numbers still don't add up to a 3 dollar difference in gas prices per gallon between California and Rhode Island.

Borzak · Feb 23, 2022

Moglyzoke Moogleman said:
Borzak posted this article a few days ago.

Not Even $200 a Barrel: Shale Giants Swear They Won't Drill More

(Bloomberg) -- The Texas wildcatters that ushered in America’s shale revolution are resisting the temptation to pump more oil as the market rallies, signaling higher gasoline prices for consumers already battered by the worst inflation in a generation. Most Read from BloombergRussian Media...

finance.yahoo.com

Maybe I'm reading it wrong but it looks like they don't want to crater prices by drilling, drilling, drilling.

They were in a fracking boom when the economy fell apart overnight in 2008. Lot of money in the labor and equipment that is moved and put into service to have it all just disappear overnight. Bust and boom and they know it's coming for one reason or another. Not to mention so many of the large energy companies have divested some of the actual drilling to smaller companies now.

Kiroy · Feb 23, 2022

Mist said:
Those numbers don't match other data I'm seeing, and regardless, those numbers still don't add up to a 3 dollar difference in gas prices per gallon between California and Rhode Island.

lol these numbers are everywhere, what the fuck are you talking about. Are you saying we don't pay 22 cents a gallon in carbon offset fees? You're fucken crazy. Also looking more into it CA has cap and trade programs that buttfucked wholesalers to the tune of 35 cents a gallon, which gets passed onto consumers. God knows what else.

Even the most liberal SF and berkley faggots aren't stupid enough to try to call it price gouging while licking bidens asshole, and admit to CA mystery fees

Why Biden isn't to blame for California's astronomical gas prices

Many blame Biden for California's high gas prices. But can the president impact prices?

www.sfgate.com

You're a dumb cunt. Go back to late stage capitalisms reddit and post there with the other retards.

Borzak · Feb 23, 2022

State taxes all inclusive in at least LA and TX last I looked are right about the same as fedel taxes on a gallon of oil. Reason it's <$3.00/gallon in a lot of places here now. Just looked on gas buddy in Baton Rouge which has a large refinery it's $2.93 to $3.05/gallon. They make their money on oil/gas in other ways, or at least did til Biden pulled the rug out on gulf oil leases. The state used to almost have half their money come in from their cut on oil production from their leases in the gulf, so much for that now.

Jysin · Feb 23, 2022

QQQ not far off of the January low of 334.15

I expect a reasonable chance of a bounce there.

Jysin · Feb 23, 2022

Reloaded NVDA (what I had sold for profit from yesterday).

Blazin · Feb 23, 2022

Jysin said:
QQQ not far off of the January low of 334.15

I expect a reasonable chance of a bounce there.

Everyone salivating over this head and shoulders , I'm still looking for neck line to break. Take out the bull stops and suck bears in.

We are going to find out next 1-2hrs. This fourth check of this range it's make or break time. Chance of a break to 417 on SPY is growing by the minute.

Edit... Taking a risk here and bought QQQ. Consider it a pretty risky buy but gut says do it.

Zog · Feb 23, 2022

Blazin said:
Everyone salivating over this head and shoulders , I'm still looking for neck line to break. Take out the bull stops and suck bears in.

We are going to find out next 1-2hrs. This fourth check of this range it's make or break time. Chance of a break to 417 on SPY is growing by the minute.

Edit... Taking a risk here and bought QQQ. Consider it a pretty risky buy but gut says do it.

I went even further, in @ 48 on TQQQ.

Tmac · Feb 23, 2022

Jysin said:
Seriously, I think it's fairly dumb that people associate presidential politics to ppBarrel oil / gas prices. It makes for great mainstream media talking head sound bites and that is about it.

Anyone who doesn't fully grasp that OPEC+ pretty much sets the prices is just delusional. Aside from macro world events like pandemic demand volatility, hurricane closing refineries, etc, they are setting the pace of output. No president (Dem or Repub) can just pen down cheap prices at the pump. It's a futile and misguided political rant.

Pen down prices at the pump? It's called energy policy. The Trump Presidency showed that good energy policy totally and immediately impacts prices at the pump.

Tmac · Feb 23, 2022

Mist said:
57.66 cents in Cali vs 35.12 cents in RI.

What's funny is that gas taxes in CT are actually 10 cents lower per gallon (25 cents) than in RI, yet gas prices are like 40 cents higher in CT.

It's just price gouging. The gas stations and gas companies will charge what people are willing to pay.

It's not price gouging you dumb dumb. There are other taxes and expenditures besides a gas tax.

If cigarettes are $20 a pack in CT and $5 a pack in GA is it bc of price gouging or bc the CT government wants to make smoking cost prohibitive?

Blazin · Feb 23, 2022

Zog said:
I went even further, in @ 48 on TQQQ.

You're not alone in that regard.

I just didn't want to promote excessive risk taking but since you did it anyway

Definitely a risky trade, we either break down right here on this retest and it gets a lot uglier or we could rally from here into the close.

Moglyzoke Moogleman · Feb 23, 2022

Shorted OCGN @$3.6 but covered too early at $3.43. Continuing to have issues letting my profitable plays run (and cutting the losers with extreme prejudice.)

Shorted OSTK @$46.00. Sad part here is I watched it from $50.00 but had my limit at $52.50. Not covered so let's see what happens. GLTA.

Sanrith Descartes · Feb 23, 2022

Blazin said:
You're not alone in that regard.
View attachment 399803

I just didn't want to promote excessive risk taking but since you did it anyway

Definitely a risky trade, we either break down right here on this retest and it gets a lot uglier or we could rally from here into the close.

Did some math and calculated us touching -2% on the QQQ at some point today so I dropped in an order for TQQQ at $46

Blazin · Feb 23, 2022

Sanrith Descartes said:
Did some math and calculated us touching -2% on the QQQ at some point today so I dropped in an order for TQQQ at $46

QQQ has it's break down so I'm watching SPY to see if it follows suit. Looks ugly. What's funny is my individual stock portfolio was still green a second ago, definitely in the right stocks even if the indexes are sucking wind.

I'm kind of rooting for a drop because I'd like to do some bigger buying lower and trying to not let what I want to override my read of the current chart but it looks like it wants lower.

Zog · Feb 23, 2022

I was stopped out at 47.50, most likely itll goto the moon now.

Sanrith Descartes · Feb 23, 2022

Blazin said:
QQQ has it's break down so I'm watching SPY to see if it follows suit. Looks ugly. What's funny is my individual stock portfolio was still green a second ago, definitely in the right stocks even if the indexes are sucking wind.

I'm kind of rooting for a drop because I'd like to do some bigger buying lower and trying to not let what I want to override my read of the current chart but it looks like it wants lower.

Yeah I am playing the spike down on some rando news. If it doesnt hit it doesnt hit. I also have an order to add FTEC at $114 (actually about 5 more small adds to positions as well). I am going pretty deep looking for an overshoot of the support before the algos kick in the buying. If i miss, then it means we are heading back up which is also good.

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