I'm an optimist.But a very poor one at this point because of my oil stocks lol.I figure that whats going on in the oil world doesnt smack of reality at all.We are led to believe that its all an issue of simple supply and demand? China ,for example isnt the only country in the world that uses oil,yet it becomes a convenient scapegoat?.This stock market isnt what it used to be.With huge hedge funds,high frquency trading and the like ,the worlds stock markets dont make sense like they did 10 yrs ago.They were at least somewhat logical back then.Todays stockmarkets consist of high level hype...not reality.A while ago oil was the king,then natgas,even coal,then gold and silver,then copper,..it goes on and on.The reality was that every one of those commodities were hyped to death and what happened?? Someone made a fortune and disappeared...Suddenly we dont need coal? or oil? or potash?
Oh I know some poster will say things are different today.Or that the world is slowing down,and China isnt doing so well...Funny thing that is..I can read too.But I question why it was that these same papers not so long ago trumpeted that the US and Europe were doing much better..what a quick change.
I believe that the stock markets have turned into a money making machine for a select few.Every year a 'crisis' is created to instill panic and negativety.We should all remember the last few "world shattering disasters" Greece,Europe's currency ,Mario Dhragi and his policies,The American TEA party fiasco,the 'PIGS' disaster .it goes on and on.
The markets always recovered and so will this one.Some oilco's will vanish..thats a fact thats already happening..however oil will recover.And when it does the oilcos left standing will flourish.Its that simple.Nevermind the shareprice of BNK today...it means nothing if in a year from now when oil trades higher.We have been here before with oils..and with BNK..but many posters here were not.I can sense the panic in their posts lol....its the unknowns that instill fear.Its always the same.