M4 Benelli said:
Farmer, are you still holding PXD my brother? These O & G stocks slumping harder than Hilldawg being assisted into a shaggin wagon. My upside canoe port is bleeding like a stuck pig since I did the move to which no Ag needs to spake. Ive been relegated to eating Tyson Chicken oven scrapins (Using some good Kent Rollins recipes to make do), but I fear at this rate I may have to save money by downgrading my poultry intake to 74 cent a pound Chernobyl Farms Breaded. Dont mind the beak.
Dadgum... Stayed up way to late last night (this morning). Got up an hour ago to this red stuff.
I still hold PXD, XOM and CVX and everything else that is red. I don't have anything much different to add then what I wrote last night. To take XOM down 5% yesterday and 6% today is mammoth. Energy is a target. Driving season is coming, unless the Fed and this Administration plan to blow everything up. Oil is down more than the banks. What games are being played and coupling in US bank failures have little to do with oil demand on a global basis. If they are planning on a recession to cut energy demand, so be it, but I dont see it. XOM has the cash to be debt free and this Administration will try hard to punish them. The share buyback program was timed perfectly. If those shares were in the market today, XOM shares would be weaponized against them. PXD will be fine and their CEO Sheffield knows the oil business well. He is the chief speaker to the press/media in the industry about crude being short and I don't think he'd say it if he didn't mean it.
CVX, on the other hand, I think they are sellouts or they have been compromised to lap dance for this Administration.
Looks like bonfire1996 has given me some homework.
ETA: Economic data coming out I interpret as deflationary. If wrong, someone correct me.