CRZO
Re: CRZO
Crude oil closed at over $105/bbl today. Not exactly a "sharp fall" but that was the excuse today. Today's dip probably has more to do with nervous hedge fund managers trying to lock in profitable quarters.
IMO the talk of releasing oil from U.S. and European strategic oil reserves is the politicians trying to talk down the price of oil. Any release will only be a temporary dip in oil prices anyway. Oil will stay high until the situation with Iran is resolved and that is not happening anytime soon. Even without Iran, the fundamentals for oil are very strong.
CRZO had a strong 4th quarter and Q1 will be even better. That can be said for all of the Sweet-16. Check the under the Sweet 16 Tab and you will find my Fair Value estimate for CRZO. - dan
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NEW YORK (Reuters) - Stocks declined on Wednesday as sliding oil and metals prices gave investors a reason to sell commodity-related shares.
A sharp fall in U.S. crude oil futures hit energy stocks, prompted by talk of a release of some U.S. and European strategic oil reserves. Materials shares dropped as well.
A weaker-than-expected report on U.S. durable goods orders deflated some of the recent investor optimism over the economy, leading to softness in industrial shares.
Analysts also said quarter-end stock buying, which lifted stocks earlier this week and caused a number of top performers to hit new 52-week highs, may be waning.
Window dressing at the "end of quarter has probably driven up stock prices over the last couple of days," said Robbert Van Batenburg, head of equity research at Louis Capital in New York.
"That upward pressure is fading away," he added. "If you buy a stock now, it's going to settle on Monday, and it won't show up in the first-quarter results."
IMO the talk of releasing oil from U.S. and European strategic oil reserves is the politicians trying to talk down the price of oil. Any release will only be a temporary dip in oil prices anyway. Oil will stay high until the situation with Iran is resolved and that is not happening anytime soon. Even without Iran, the fundamentals for oil are very strong.
CRZO had a strong 4th quarter and Q1 will be even better. That can be said for all of the Sweet-16. Check the under the Sweet 16 Tab and you will find my Fair Value estimate for CRZO. - dan
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NEW YORK (Reuters) - Stocks declined on Wednesday as sliding oil and metals prices gave investors a reason to sell commodity-related shares.
A sharp fall in U.S. crude oil futures hit energy stocks, prompted by talk of a release of some U.S. and European strategic oil reserves. Materials shares dropped as well.
A weaker-than-expected report on U.S. durable goods orders deflated some of the recent investor optimism over the economy, leading to softness in industrial shares.
Analysts also said quarter-end stock buying, which lifted stocks earlier this week and caused a number of top performers to hit new 52-week highs, may be waning.
Window dressing at the "end of quarter has probably driven up stock prices over the last couple of days," said Robbert Van Batenburg, head of equity research at Louis Capital in New York.
"That upward pressure is fading away," he added. "If you buy a stock now, it's going to settle on Monday, and it won't show up in the first-quarter results."
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group