Those with cash and holding power will benefit most from days like this. If you believe in peak oil, then the doom days are opportunities. If you dont believe in peak oil, then stay out of the oil stocks!
Printable View
Those with cash and holding power will benefit most from days like this. If you believe in peak oil, then the doom days are opportunities. If you dont believe in peak oil, then stay out of the oil stocks!
.
At the moment price of oil holding up although pretty choppy ....
http://data.tradingcharts.com/intrad...04e64ae20b.png
But how will POO react to looming US slow down / recession ?
The effects of the US sub-prime fiasco are everywhere, certainly also in NZ .... I've been stung by exposure to sub-prime write downs by way of a diversived investment package from ING. The "International Fixed Interest" component of the package suffered serious write downs due to inclusion of US sub-prime mortgages, what a mess !! When I originally put funds into this supposedly robust and diversified package there was no mention of sub-prime exposure or what that might mean in terms of increased risks !!
Check out this report on Fed attemps to manage the mess ....
http://www.bloomberg.com/apps/news?p...&refer=markets
What a mess !!!
I no longer have confidence in the US economy or in ING and the fancy investment products they tout. I'm pulling all my funds out of ING and into my on call bank account. No doubt thousands are doing exactly the same round the world, hence the liquidity crisis and the possibility of recession.
In the meantime NZOG is so undervalued it may well ride out the slow down and the falling Dow Jones ..... my pick is it will not spend too much time under a dollar.
.
DM. Please tell me what you know about trading that I don't. I am looking forward to your response on that. Why dont i trade? The simple answer is my time is too precious to be looking at the charts and numbers all day to worry about trying to make a buck through trading in stock, futures or whatever. Ive read plenty of books on it like the famous elliot wave theory. In a nut shell, it seems great in theory but as often the its not until after the event that clear definitions are shown.
As far as NZO is concerned, I brought my first shares in the low 30's. and they are now over $1.00 plus the options that i got along the way. This representing over 300% net gain in around 4 plus years. That is why i dont need to bother in day trading. My only other purcahse this year has been PPP. I only brought options at 4.1 cps. I converted at $AU0.15 selling most at 35 cps. The rest i hold are free. So why do i need to waste hours on trading when fundamentals gave me an excellent return.
, you are depressed zorba
Can't see nzo going under a dollar
My guess is that it will be back above $1.10 tomorrow
I think it's time for many investors to clear this "US reccession crap" out of their minds and just get on with investing in undervalued companies
eg, NZO
I don't think they are going to stop using oil in the US even if they do have a reccession - all it would mean is that US demand would not increase next yr
.
Mick,
You are right ....
Onwards and upwards for NZOG !!
.
Nita,
I told you before . You are my kind of girl. Fundamentals. Just plain old common sense.
The Australian eastern coast will be converting to CBM over the next 2-5 years
VPE/BOW
Cant beat it.
[/quote]I don't think they are going to stop using oil in the US even if they do have a reccession - all it would mean is that US demand would not increase next yr[/quote]
The average American earns twice as much as most people in the developed world and pays half as much for petrol. Ask yourself when you would stop using it, or reduce consumption. Their consumption won't drop. If it looked like dropping they would start to top up their "strategic reserve"....as will the Chinese...
The Arabs like USD90 oil (for the present) and won't contribute towards a glut ever again.
...in the mean time, Tapis crude has been cruising along at over USD100!!
Must be nearly 150days of Tui oil now..~75M?? to NZO. No income tax to pay...
Seriously impressive cash flows...no comment about water cut so must be continuing better than early expectations...
NZO may have had a possible need for a few million in cash in the early months but their banks are unlikely to be worried by NZO at the moment...
http://www.asx.com.au/asx/statistics...idsID=00797662
kupe drilling started
M
I am absolutely spewing today. My 7% stop was taken out and the stock continues right back up. I'd be interested to see how others are putting their stops in with this stock. A lot of false breakouts, spikes, and volatility in general makes this a bit tricky to analyse with TA. Still bullish on oil, but this is looking more like a 2 yr hold than a 6 month hold.
This is a good example why you shouldnt panic and should look at fundamentals instead of T/A graphs. Did you get your training from McDunk? LOL