Let the funny begin!

[Reservoir_Dog]

http://www.marketwatch.com/story/new-yo ... 2016-01-20

[Pudfark]

This is funnier..though, not to Slick.
http://www.foxnews.com/us/2016/01/20/do ... tcmp=hpbt1

[callmeslick]

actually, I've been waiting for this for a LOOOOOOOONG time, Pud. I have at least half the profits I made from buying on the Obama inauguration in money market reserves, waiting to drop a couple hundred grand on the correction. In essence, short term drops like this one are how one builds wealth for one's grandkids.


Worth noting, as 'oil gets routed'.........Exxon is still 8% up on this day last year. The big boys are about to acquire infrastructure, leases and other assets at bargain basement prices.

[Pudfark]

Yer a financial idiot. Sounds to me, what ya bought into? Ya didn't get out of.....in time.

[callmeslick]

more simple math. I bought in at the Inaugural week. My profits since that time are around 400%. The current drop should bottom at a point where I lose back about 1/4 of that, maybe 1/3,but I'm still WAY up, and I've been cashing out for two years now. Time to buy back in on this bottom. Nothing terribly smart requried. This is the system I was taught since childhood: buy low, sell high. It's worked for lots of folks for generations.

[Reservoir_Dog]

actually bought a bunch of Exxon two years back at 62 bucks a share. It closed today at 70, or close to it. All the while paying me dividends. You see, that whole oil thing is complex. What you are about to watch is BP, Exxon, Shell, The Saudis, etc, buy up a ton of small producers, their leases, their equipment, etc. The big boys have been sitting on HUGE cash for a decade or more, through various downturns. They'll be fine.

actually, I've been waiting for this for a LOOOOOOOONG time, Pud. I have at least half the profits I made from buying on the Obama inauguration in money market reserves, waiting to drop a couple hundred grand on the correction. In essence, short term drops like this one are how one builds wealth for one's grandkids.


Worth noting, as 'oil gets routed'.........Exxon is still 8% up on this day last year. The big boys are about to acquire infrastructure, leases and other assets at bargain basement prices.

more simple math. I bought in at the Inaugural week. My profits since that time are around 400%. The current drop should bottom at a point where I lose back about 1/4 of that, maybe 1/3,but I'm still WAY up, and I've been cashing out for two years now. Time to buy back in on this bottom. Nothing terribly smart requried. This is the system I was taught since childhood: buy low, sell high. It's worked for lots of folks for generations.

You're talking so far over Pud's head he's going to need a plane ticket to catch up to you!

[callmeslick]

likely right, Res, and, as I noted: one doesn't have to be very smart to grasp what I'm laying out here.

[Pudfark]

Invest everything ya got in Exxon. When oil hits $15 a barrel...you're gonna make a killing.

[callmeslick]

Invest everything ya got in Exxon. When oil hits $15 a barrel...you're gonna make a killing.

wow, you really don't understand Exxon Mobil too well at all, do you? Are you aware that they not only make money producing raw energy products, but they have a hand in all those green technologies, and they make money refining finished products and selling petrochemical end products. Further, they are sitting on about 150 Billion dollars in pure cash on hand.......just waiting to cherry pick some Texas small timers' carcasses.

[HappyHappy]

Bad news is Oil will hit under $20.
That is the point where it aint worth pumping
or transporting.... Not a good thing at all.
Bumping along at a no profit pace
will shut down the shale oil fields.
But that's what OPEC wants.