Big Dog's Boom Boom Room Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Big Dog's Boom Boom Room

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: CommanderCricket who wrote (111995)	10/16/2008 6:19:59 PM
From: ChanceIs	of 206151

Burned out??? Big time. Ridden hard and put away wet to boot. I have posted here at least a dozen times that my greatest fear was that the certain banking collapse would pull down our noble, wealth generating oily stocks with it. Anybody want to argue that my fears were paranoia??? Crude hanging around 15 month lows with the equities at three year lows!?!?!?!?! This is the worst I have seen. The rhetoric I see around CHK is unbelievable. "Cash strapped." Phrases like that. It is a little disturbing that any number of patch CEOs were out on margin and got roasted. Makes one question their basic judgment. OTOH, it does show a more than a little faith in their enterprises. At least they weren't issuing debt to buy back their own shares to prop up the stock price (executive options) on the way down - like so many thieves in the home builder and mortgage lenders were doing a year ago. Aubrey was making open market purchases. Very few executive option exercises of which I am aware. I see the economy staying weak for quite some time. I see people heating their houses and more manufacturing on the lower commodity prices. There might be a three month glut of NG at worst. Fertilizer, industry, plastics, etc haven't ground to a complete halt. Hedge fund purchases maybe, but not end consumers. I got quite distraught in late 2001. I had been through so much since loading up in the patch in '98. The summer selloff of 2001, then the havoc of 9/11, and then we slipped into a warm winter. I knew that the fundamentals hadn't changed but thought that the patch psychology would take years to recover after the boom/bust of 2000-2001. Wrong. NG cranked up slowly through 2002. Got pulled down in the Oct '02 rout, but then bobbled back up. I think we are 70% through Commander. Don't succumb to fatigue. Just think. I was really worried about my Jan '09 $90 strike CNQ covering calls being exercised against my very long term position!!!! Somebody who bought them from me is probably POed. Then again. Maybe he used them to hedge his short. That premium is in my pocket regardless.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next