AT THE CLOSE / QUOTE / LEVEL 2 / OIL PRICEDown 14.63 % in one day and on approx. 3 times the average trading volume as seen below !! What a shellacking. Now in the Level 2 below there is a fair amount on the bid at $1.02 and $1.00. So if oil is down again tomorrow morning then we will see if those bids get pulled or remain and get filled. Starting to get real interesting here now.
All oil stocks were down today but LTS had one of the largest drops. Like the wise man said .... trying to catch a falling knife can hurt !!
It has been stated many times on the bullboard here that an intelligent investor will wait until oil bottoms out before jumping in and I bet that many here would have heeded the advice.
With the world countries producing way more oil lately than previously then the oil surplus may be here for a lot longer than many think. Like Exxon said .... in 2015 it is going to be pumping a lot more ... not less.
And look at Iraq below .... her exports were the highest in December since 1980 !!! ( 35 years ). Most countries derive a major portion of their revenues from oil and in order to keep the revenues coming in they will obviously have to sell more oil to make up the price difference.
BUZZ-Oil and gas producers: Prices drop to fresh lows 21 minutes ago - Reuters
BUZZ-Oil and gas producers: Prices drop to fresh lows (Updates)
** Oil and gas producers down after prices drop to fresh 5-1/2-year lows on concerns of supply glut and lacklustre demand
** Rurssia's oil output hit a post-Soviet high last year, Iraq's oil exports were at their highest since 1980 in December
It is a completely different scenario now than back in 2009 ( the last oil crash ) as there was very little " fracking " happening back then. This time around the Saudi's are not going to let the price rise as they want to keep the " frackers " out of the market. They can survive no problem on $ 40 ish oil prices.
Oil itself has now entered into the $ 40's as seen below. How long can LTS survive with oil in the $40's ( or possibly even lower ) ??? LTS had based their forthcoming prognosis ( in their news announcement ) on $65 oil .
NYMEX Crude Oil (Near Future) As of 05 Jan 2015 at 4:18 PM EST.
Lightstream Resources Ltd As of market close 5 Jan 2015.
Quote Details
| Open | 1.18 | | P/E Ratio (TTM) | -- |
| Last Bid/Size | 1.04 / 92 | | EPS (TTM) | -6.55 |
| Last Ask/Size | 1.05 / 101 | | Next Earnings | 9 Mar 2015 |
| Previous Close | 1.23 | | Beta | 2.81 |
| Volume | 4,080,264 | | Monthly Dividend | 0.0150 |
| Average Volume | 1,431,684 | | Dividend Yield | 17.14% |
| Day High | 1.20 | | Ex-Dividend Date | 29 Dec 2014 |
| Day Low | 1.04 | | Shares Outstanding | 197.7M |
| 52 Week High | 9.09 | | # of Floating Shares | 188.9726M |
| 52 Week Low | 1.04 | | Short Interest as % of Float | -- |
| DRIP Eligible | Yes |
Level 2 Quote
| Market Maker | Shares | Bid Price | Ask Price | Shares | Market Maker |
| |
| | 9,200 | 1.040 | 1.050 | 10,100 | |
| | 76,600 | 1.030 | 1.060 | 26,300 | |
| | 152,500 | 1.020 | 1.070 | 105,400 | |
| | 82,500 | 1.010 | 1.080 | 47,800 | |
| | 276,500 | 1.000 | 1.090 | 69,600 | |
| | 91,200 | 0.990 | 1.100 | 53,200 | |
| | 83,600 | 0.980 | 1.110 | 48,300 | |
| | 62,000 | 0.970 | 1.120 | 17,200 | |
| | 40,300 | 0.960 | 1.130 | 500 | |
| | 77,300 | 0.950 | 1.140 | 2,500 | |