31 Mar 2020- Stock and Financial Markets Discussion Thread

[catfish1957]

End of 1Q 2020.  When all the number flash out, it will be one of the worst since the '30's.

31 Mar 2020 11:30 a.m.

DJIA- Down 0.1%
S&P 500- Down 0.2%
NASDAQ- Up 0.2%


WTI-  $20.47/bbl.
Gold- $1619/oz. 

Europe
=======
FTSE-Up 2.0%
DAX- Up 1.2%
CAC- Down 0.7%

VIX is just a tad over 50.  . So good to see the shock waves lessen a bit.

[Idiot]

I put together a "basket" of O&G stocks to purchase on any good pull back here.

XOM, TOT, CVX, BP, RDS.A

I think I might be too late to the party though, as they seem to be creeping up.  I was hoping for a double bottom, but that may or may not happen.

[Idiot]

We just got notice from our oil purchaser that since there is so much oil on the market that there will be a tariff on our oil.  So we'll likely be starting April in single digits for the price of oil (WTI).  Amazing.....

[catfish1957]

31 Mar 2020 @close of day and 1Q '20

DJIA- Down 1.3%
S&P 500- Down 1.8%
NASDAQ- Down 1.1%


WTI-  $20.10/bbl.
Gold- $1570/oz.  Down 3% today.

Europe
=======
FTSE-Up 3.0%
DAX- Up 1.2%
CAC- Up 0.4%

Again, maybe still the best news we have is volatility is waning a bit.  Still look out next month, when 1st quarter earnings reports start some additonal jolts.

[catfish1957]

I put together a "basket" of O&G stocks to purchase on any good pull back here.

XOM, TOT, CVX, BP, RDS.A

I think I might be too late to the party though, as they seem to be creeping up.  I was hoping for a double bottom, but that may or may not happen.

Good line up, but if the prediction of <$10/bbl oil that you mentioned in your second post comes to fruition, and sustains,  watch for some scary sector shakeup news to come.  Not saying any of these big integrated oils are going belly up, but watch for some serious brokerage and debt rating degredation, and the divys to evaporate. 

If oil does reach the sub $10 level, there will be significant capacity taken off line, (even more than planned) until demand returns.
But otherwise you are spot on......    Oils are seriously oversold. 

[catfish1957]

Scuttlebutt from the Buffett/BRKA front is that their next SEC filing in May will show a strong tendency toward cash position and corporate bonds.

That's not good news as far as market recovery. (At least his opinion)