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MJ DeMarco
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Not sure if anyone here follows market gyrations but I do.
http://www.marketwatch.com/story/10-us-shale-oil-stocks-getting-crushed-the-most-today-2014-11-28
Today marks Black Friday for a lot of oil shale stocks, most of them getting hit to the tune of a 20-30% clip today. OPEC has decided to keep production at current levels and the weight of the decision must be bore by American companies. This serves to pressure US based companies to suffer the price declines, moreso than OPEC. OPEC is the bear in the river, the US companies are the salmon. In fact, many of these companies cannot survive if oil continues to move lower since their operations are based on a minimum priced level for the commodity.
Some questions to ponder...
1) How low will oil go?
2) Do you think these stocks, now at huge discounts, are worth a mid-to-long term buy?
http://www.marketwatch.com/story/10-us-shale-oil-stocks-getting-crushed-the-most-today-2014-11-28
The decision by OPEC on Thursday not to cut oil production, despite a price decline of over 30% since June, means U.S. shale-oil producers may soon find business to be unprofitable.
Today marks Black Friday for a lot of oil shale stocks, most of them getting hit to the tune of a 20-30% clip today. OPEC has decided to keep production at current levels and the weight of the decision must be bore by American companies. This serves to pressure US based companies to suffer the price declines, moreso than OPEC. OPEC is the bear in the river, the US companies are the salmon. In fact, many of these companies cannot survive if oil continues to move lower since their operations are based on a minimum priced level for the commodity.
Some questions to ponder...
1) How low will oil go?
2) Do you think these stocks, now at huge discounts, are worth a mid-to-long term buy?
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