Stock Market

[NeekReevers]

How low is it going to go?

 

[GoPokes43]

Time to buy...

 

[poke2001]

My guess is we are about as low, for now. We will get a bump from here, but it may be short lived.

I'm more concerned with oil prices right now. I thought our Feb low was it, didn't think we would dive into the $30s and this late in the year at that. Supply still going up, but now a weaker growth in China is not good at all.

 

[Marshal Jim Duncan]

My guess is we are about as low, for now. We will get a bump from here, but it may be short lived.

I'm more concerned with oil prices right now. I thought our Feb low was it, didn't think we would dive into the $30s and this late in the year at that. Supply still going up, but now a weaker growth in China is not good at all.

Barring geo-political disruption, it looks like the oil price is stuck in a $35-50 range for months to come, at least.

 

[JonnyVito]

just wait till the Iranian oil hits the market also. I bet we don't see oil above 40 bucks for years. Really hoping I am wrong though.

 

[poke2001]

just wait till the Iranian oil hits the market also. I bet we don't see oil above 40 bucks for years. Really hoping I am wrong though.

Slot of the Iran oil stuff is baked in at this price already. Oil started turning down from trading flat once that became more likely. The speed of decline picked up over the past week or two when demand signals started to show a weakening.

I think Marshal is correct, although I believe the range will actually end up being low 40s to 50 through Q1 next year.

 

[long-duc-dong]

Pretty slow out there right now in the ol oil patch. Businesses flat out shutting their doors instead just cutting back. We're slow, but going to try and weather the storm without letting anyone go. Could be tough to do though. People are shutting wells in all over the place. Oil not worth the operating costs on some of these wells so they either shut them in or hold on to the oil as long as they can.

 

[Marshal Jim Duncan]

Slot of the Iran oil stuff is baked in at this price already. Oil started turning down from trading flat once that became more likely. The speed of decline picked up over the past week or two when demand signals started to show a weakening.

I think Marshal is correct, although I believe the range will actually end up being low 40s to 50 through Q1 next year.

I'm thinking more like Q4 of 2016.

 

[poke2001]

Could be, although I think sometime in Q1, stability is found and we see a bit of increase starting.

Depletion rates of the shale plays are so much faster than traditional. The rig count getting cut by 60% will really show up Q4 this year through early next year. Drops in production will FINALLY occur which will give a floor. If the production drops are significant, the price could go up even faster.

 

[JonnyVito]

Slot of the Iran oil stuff is baked in at this price already. Oil started turning down from trading flat once that became more likely. The speed of decline picked up over the past week or two when demand signals started to show a weakening.

I think Marshal is correct, although I believe the range will actually end up being low 40s to 50 through Q1 next year.

Good to know. I don't follow this as closely as I should. Just hate seeing some of my customers have to reduce their businesses. Not good for anyone in this area.

 

[TPOKE]

Artificial stimulants and no economic growth made this what it is.

 

[poke2001]

Artificial stimulants and no economic growth made this what it is.

Definitely responsible for a great deal.