Okay bros - Oil Prices & Energy Stocks - time to buy?
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Springbok
Karen
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Aubrey knew he was set for a long stint in a federal pen and decided to drive into a fucking bridge 10 miles from my house. A glorious end to a genuinely interesting, often-times entertaining/hilarious career. The guy did a ton for OKC so I can't be too mad at the guy, but I imagine if the DOJ is after you and publicly your ship has already sailed.
Man oh man. I sure fucked up buying CHK but looks like it was a little harder on him. Did a lot of pad designs for them in Utica, i was google earthing the other day and several of them still hadn't been drilled and they were grading them out in 2012 as fast as they could.
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Well, as some of you remember I bought VGELX at 89, $150k worth. It actually paid a 2.5% dividend around Christmastime which was reinvested @ 78 so my holding right now is only down about 8%. This has made a quiet comeback in last couple of weeks. I'm going to wait until it's +10% and then liquidate it and buy more VTI.
Khane
Got something right about marriage
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ShakyJake
<Donor>
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I just liquidated a chunk of my VTI recently. I have a feeling the market is going to take another dive soon. The Apple news today might be the catalyst.
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Maybe, but I intend to hold most of this shit until I need it in retirement so if I sell I'll have to pay taxes now which would fucking suck massive cocks.
I own some VTSAX and some VTI. My average cost per share in VTSAX is 42.80 and average cost per share in VTI is 82.
Definitely do not need the capital gains dick up my ass this year, will wait and structured-sell this stuff after I lose my regular income in retirement so I can avoid taxes.
Jysin
Ahn'Qiraj Raider
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Apple shouldn't be surprising if people do their research. iPhone is shit and constantly trying to play catch-up with the rest of the market. They used to innovate, now they repeat this mantra of perfecting existing tech. This means, you aren't innovating a damn thing anymore. ipad and mac sales are also plunging, but iPhone is their bread and butter. I would have bailed on Apple a long time ago. Writing has been on the wall.
Google took a hit, but considering their expenses on R&D shouldn't have fallen as much as it has. Twitter is a 1 trick pony and they said last quarter that their user base is declining. No big shock it had disappointing results. Facebook I am still long on. This quarter will be the first Oculus sales figures incorporated into earnings. They are slowing growing their Instagram monetization (hundreds of millions of users) and have yet to monetize Whatsapp and their own Messenger platform. Lots of room for growth in the future. I am unsure what this Q1 report holds for them.
If FB underperforms, that is most of the tech sector in the red. You could see a big sell off after today, depending on earnings.
Also to note, Fed should make a statement on interest rates today and we should also have US oil inventory numbers coming in this morning.
Going to be an interesting ride!
Khane
Got something right about marriage
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Eomer
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Oil prices may well take a jump here with the fire situation in Fort McMurray. Not sure how well known it is outside of Canada, but the area produces about 2 million barrels a day, and they've had to evacuate the entire fucking town. None of the facilities are threatened, but the mines, upgraders and production facilities are very labor intensive, and the vast majority of the labor force had to get the fuck out. Production will probably have to be shut in at a few of the facilities. I read one news story that said it's already down by 500k BPD. The oil production overhang globally last I read was around 1m BPD. Depending on how badly the city is fucked up and how long it takes people to move back, that could have a significant impact right as the summer driving season kicks in.
Some of the videos are pretty unreal:11 jaw-dropping videos from the Fort McMurray wildfire - Trending - CBC News
Some of the videos are pretty unreal:11 jaw-dropping videos from the Fort McMurray wildfire - Trending - CBC News
Eomer
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Shut-in estimates are now 600-800k BPD:Oil prices jump as Fort McMurray wildfire slows down oilsands production - Calgary - CBC News
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Eomer
Trakanon Raider
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Seems like the markets so far are not anticipating a long outage, and have barely budged. It was only yesterday that the media and politicians took a tour of the town. Damage assessments are still being done. They figure that 85-90% of the town was not damaged. As of right now, the town is still under an evacuation order. Most of the large infrastructure (water treatment plants, emergency services, hospital etc) were saved. However the power grid was damaged, the water is not drinkable, and there's going to be a huge amount of cleanup of hazardous waste left behind. It's likely going to be weeks, if not months, before a large portion of the town can be re-occupied. And until that happens, it's likely that there will continue to be significant shut downs, as the oil companies can only house so many people in camps.
Workforce key to oilsands restart, observers say ahead of premier meeting - Edmonton - CBC News
Workforce key to oilsands restart, observers say ahead of premier meeting - Edmonton - CBC News
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We are forming an LLC and buying single family homes for now, but we are talking about buying a class B apartment complex with 20-25 units.
Want to see how the first 5 houses go and get some business processes working before we take that on though.