Okay bros - Oil Prices & Energy Stocks - time to buy?

Boy and boy talk about jumping to conclusions. You have no idea what I'm even talking about.

Who are you calling boy, mongoloid?

Rod-138_sl said:

Just bought around 30k worth of Marathon and Conoco Phillips ! Someone sacrifice a tree to the oil gods for me please.

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Oh man, hogs get slaughtered.

those ever increasing gas prices...

I don't know about the oil producing side but on the refining side they are taking the opportunity to run extended downtime for their spring turn around. Normally they have a spring and fall turnaround for maintenance where they shut down a number of process lines. These are normally planned a year or more in advance.

This year because of the stockpiling of refined fuels and other market conditions they took the opportunity to extend them and do larger maintenance on very short notice. The 2nd largest refinery in the country has a cat cracker shut down with the top off of it (which is the heart of a refinery which actually cracks the hydrocarbon chains) on short notice. What normally is a few weeks is going into the 3rd month of a large portion of the refinery being shut down.

I would imagine at some point that is going to impact the prices.

Haven't oil exploration, equipment, and infrastructure companies been outperforming the rest of the energy sector for pretty much all of recent memory?

Khane, did you actually do the credit-card flipping to invest? The difference between you and Trump is that when he uses other people's money he isn't personally obliged to pay back losses. OPM =! IOU

probably a good time to short oil. With the Iran "deal" in place, they will soon be able to unload a huge amount of reserves they've been stockpiling.

So all this talk about the "storage tanks filling up" and a price crash down to $30 turned out to be a bunch of hot air. I bet ya when Goldman Sachs was telling everyone to sell sell at $40 oil cause storage was about to hit capacity they were backing up the trucks and buying the quality producers for the next run to $100 in a couple years time. Usually how these things work.

Strifen_sl said:

So all this talk about the "storage tanks filling up" and a price crash down to $30 turned out to be a bunch of hot air. I bet ya when Goldman Sachs was telling everyone to sell sell at $40 oil cause storage was about to hit capacity they were backing up the trucks and buying the quality producers for the next run to $100 in a couple years time. Usually how these things work.

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Unfortunately true

Oil's trouble aren't over yet but whatever problems come from countries unloading excess supply the market will eventually correct.

The cure for cheap energy is cheap energy

If I had that kind of cash and chose that MF, I'd be more inclined to go in $50,000 at a time, or less depending what vanguard rules are for it, especially of you think oil/energy still has a ways to go.

then again that's basically trying to time the market but whatever, just a thought.

nm

TSO was my long pick ~2 years ago and has done well. Now I picked up some XOP at 37.20. I cheer when gas prices go up =p.

Oh boy another extinction level event we'll forget about in a month.

heh, logged in to my brokerage account prior to checking any news this morning. I was like "I'm pretty sure that my total account value started with a different digit last week." Looks like things have bounced back up again, though.

Automated sell positions? Still, the DJIA has dropped almost 2k points since June.

For personal reasons I also monitor the USD:Yen conversion rates and it was strange today. As of late it trades around 1:122. Sometimes spiking to 1:125. This morning it was 1:118. Now it is back up to 1:119.