Someone say technical analysis is worthless? Only if you're bad at it.

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Someone say technical analysis is worthless? Only if you're bad at it.

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Just asking anyone to demonstrate that they have consistently realized above-market returns using it. That's all.

There's a thread titled "Stock Markets" that hasn't fallen off the first page since oldarmy1 started it. I would encourage you to read his posts and come back and say you can't make money consistently using technical analysis

I've read it. Don't be condescending.

Please document it over years. It's been tested and studied and studied and studied.

Thank you. I know for a fact that OA1 has been killing it over there. Pretty unreal actually.

He posts his reasons for entering and exiting trades along with how he combines stock and options purchases to maximize returns. There's no reason not to review that thread in its entirety even now.

FWIW, Halliburton is planning for 2017 to be a big year. Starting 2 new frac crews to handle the workload. I'm not sure I see it, but hey, they know a lot more than me.

Hal has proven to not get it.

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FWIW, Halliburton is planning for 2017 to be a big year. Starting 2 new frac crews to handle the workload. I'm not sure I see it, but hey, they know a lot more than me.

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2? Only 2? That won't even scratch the surface. They recently laid off 5000 so only time will tell. My friends there are not all that high on the coming year....

Funny if you walk out into the industry you get the feel that many companies, some examples posted here, are planning for a comeback very soon. Yet the price of oil continues to suck. What to make of it all?

My only thought is more people are planning on leaving and they are hoping to beat the others to the rush to hire the replacements.

My dad is finally leaving an IOC, after taking a voluntary retirement (he's well past others for retirement). I know of a few others in his age group finally leaving/retiring. I can only hope that the managers see that with the markets up, people's 401(k)s are finally better looking and can punch the ticket out. And those leaving (maybe too many leaving) means they have to hire to replace them.

That's my hope, at least.

~egon

WTI could be back in the 30's this week, unreal.

Now that most of the short-term disruptions from earlier in the year have gone away, Nigerian rebels, Canada fires, Libya, Kuwaiti strikes, etc., it feels like we are right back where we were a year ago. OPEC producing at record levels, a glut in refined products, additional rigs being deployed to help maintain US production. It's just hard to see the situation improving significantly any time soon.

My take is that those companies expecting a quick run up are delusional.

We're (COP) letting go of 1k soon, with the vast majority in L48 & Canada.

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My take is that those companies expecting a quick run up are delusional.

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My guess is that we are at least two years away from anything meaningful happening.

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My take is that those companies expecting a quick run up are delusional.

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My guess is that we are at least two years away from anything meaningful happening.

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Yea, I imagine it is prudent to have "plans" in place so you can react quickly if things go well, but those plans aren't set in stone.

Big Oil getting crushed. Look at XOM. They eared only .41/share in the Q2. Expectiations were .64. In Q3 the early number is .83.

Refining margins and commodity prices were much higher in Q2 than Q1 and it was still worse. How does anyone expect them to double their earnings in Q3 when we're already seeing refining margins getting wacked and crude trading at 3 months low. Estimated have to come down and that's going to drive the stock price back to the $70s.

All these oil companies under $50 oil are just junk. There's a lot better place to be if you really want a 3-4% dividend.

Anyone attending the UrTEC conference in San Antonio this week

It seems like several companies have missed earnings due to unusually large negative one-time write downs/true ups this quarter. I wonder if they are using low crude and tightened spreads as cover to clean everything up... or maybe they just aren't doing as much actual work so the accountants have too much time on their hands.

http://www.telegraph.co.uk/business/2016/07/31/texas-shale-oil-has-fought-saudi-arabia-to-a-standstill/

Very interesting read

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FWIW, Halliburton is planning for 2017 to be a big year. Starting 2 new frac crews to handle the workload. I'm not sure I see it, but hey, they know a lot more than me.

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2? Only 2? That won't even scratch the surface. They recently laid off 5000 so only time will tell. My friends there are not all that high on the coming year....

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I should clarify, that's 2 frac crews only in San Antonio. Halliburton is hiring throughout the southern U.S. It was 5000 globally with the majority being outside the U.S. I know both San Antonio and Odessa are hiring a lot right now. I see 2017 being better, but not as good as some seem to believe.

http://www.bizjournals.com/houston/news/2016/07/29/exclusive-bp-puts-entire-energy-corridor-building.html

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http://www.bizjournals.com/houston/news/2016/07/29/exclusive-bp-puts-entire-energy-corridor-building.html

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Hah, I remember when I started at McDermott way back in 2000, they were leasing the top 4 floors of that building.

This has been known for about 6-9 months atleast but not really in the press until today for some reason.

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http://www.telegraph.co.uk/business/2016/07/31/texas-shale-oil-has-fought-saudi-arabia-to-a-standstill/

Very interesting read

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Interesting indeed. Thanks for sharing. Would love to see that pain for the Saudi's speed up so that hopefully higher oil prices become more attractive for them.

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http://www.telegraph.co.uk/business/2016/07/31/texas-shale-oil-has-fought-saudi-arabia-to-a-standstill/

Very interesting read

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haha gif.

Texas