RE:RE:RE:Kavern 23The market is wierd right now....unfort I think OBE will drop to 7 - 7.40 if oil sinks too 90 bucks....with a chance too be in 6's briefly.
A press release on the debt financing is prob only way for OBE to have a chance to hold higher if oil was too sink to 90.
It is what it is...but retail buying is still very cautious. Stocks are not holding their gains on dip days.
Have no clue with oil wil sink too 90.
China may have discovered they actually control oil prices. All China has too do is lockdown a section of the country for Covid reasons and they can turn the oil market.
China could have done this while "covid scare" to lower oil prices which puts more pressure on Putin.
Ultimately I think China is very uncomfortable with the Russia/Ukraine war....they are comitted to a 5% GDP growth and they dont need the sanction hassle from the west.
China wants this to go away.
Easy way too stop Russia...if the world coordintates a drop in oil prices it will sink Russia.
Russia already is selling oil for a 15-20 dollar discount.
Brent is 102.37 tonight...so russia already down to 82 bucks ish.
If russia doesnt want to listen to China...then all China needs to do is lock down one more large major population area and oil will hit 90.
Its scary but China really is in contol and positioned well. China also gains the most in the europe renewable push.
People are dreaming if they think China will let oil prices trade at 130 bucks...agh nope...
pennydredful wrote: I guess you are asking at what price would I buy it. Right now I can't be that aggrresive as a margin player and will wait and see how things play out but it will be tempting in the low sixes . Usually I spead buying over a time period using VWAP orders a fair amount.