Edited by hiker, 29 April 2008 - 04:30 PM.
Boone Pickens
Started by
hiker
, Apr 29 2008 04:24 PM
10 replies to this topic
#1
hiker
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Posted 29 April 2008 - 04:24 PM
per his April 17th interview on CNBC, he declared his shorting oil was a mistake and that he is now long.
tonight, he says energy-related equities are now valued based on an assumption oil will reside below $100 in the future..he states in tonight's CNBC interview that energy equities will increase in valuation in the future once folks realize $100 oil is here to stay, which he believes will be the case.
he says energy equities are probably now reflecting $70-75 oil.
anyone here paying any attention to his public statements?
#2
IndexTrader
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Posted 29 April 2008 - 05:27 PM
I pay attention to his public statements. I haven't listened to the one tonight...I've got it recorded though.
Not sure if you're asking more than that or not.
IT
#3
jack
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#4
thespookyone
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Posted 29 April 2008 - 05:49 PM
Seems like so far, he went short. lost some money. Now changed horses, went long, is now losing on the other end. Equities, historicaly, tend to lead the commodities both ways, if they are saying lower oil-I believe them.
#5
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Posted 29 April 2008 - 05:50 PM
thanks to both of you.
Index Trader - you answered my question. I read everything you write at this board, so will look for any related comments you feel like sharing in the future.
#6
SemiBizz
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Posted 29 April 2008 - 06:18 PM
He's probably still short and hoping we're going to fade him....lol.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#7
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Posted 29 April 2008 - 08:23 PM
Seems like so far, he went short. lost some money. Now changed horses, went long, is now losing on the other end. Equities, historicaly, tend to lead the commodities both ways, if they are saying lower oil-I believe them.
Spooky:
Pickens was long for a very long time. Then at $100 he went short. Eventually (and this has been a while back), he came on CNBC and said he made a mistake, had covered his short. Oil was around $108 as I recall. He said he was going long again then...again, that's been a while back.
IT
#8
thespookyone
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Posted 29 April 2008 - 10:13 PM
IT-Have seen him make money many times. I worry that his thinking now is a bit colored by his recent investments in alternative power. Not that I don't think oil is in a long term bull, but I'd be very surprised if he didn't feel a bit of short term pain here. My take is we may not drop below $110 oil here, a decent bounce, then a larger trip down.
#9
hiker
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Posted 29 April 2008 - 11:07 PM
Spooky:
Pickens was long for a very long time. Then at $100 he went short. Eventually (and this has been a while back), he came on CNBC and said he made a mistake, had covered his short. Oil was around $108 as I recall. He said he was going long again then...again, that's been a while back.
IT
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for IT - April 17th is when he told CNBC he had covered his short, and was long oil.
Edited by hiker, 29 April 2008 - 11:07 PM.
#10
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Posted 30 April 2008 - 01:27 AM
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for IT - April 17th is when he told CNBC he had covered his short, and was long oil.
I don't think I heard him on the 17th. He may well have said he had covered his short and was long oil. But I would estimate that I heard him around mid-March say that he had made a mistake, covered his short, and gone long. Had you acted that day and gone long, you'd be up about $10 a barrel. It was on a telephone call with Squawk Box one morning.
Pickens is on CNBC all the time.
IT
