Stock Club

Quote:

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Originally Posted by Brute

schlumberger, Halliburton, baker

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I've seen over 35,000 workers laid off the last 12 months in my home city by just these 3 companies.. population of my home city is just over 120,000 total, lmao. You should see the amount of rigs that are stacked here, everyone selling their brand-new cars for cheap, new houses for cheap, etc, etc.. kind of insane. Anyways, they aren't too big to fail, they will fail and have failed, Baker was buying up several other companies and now they're turning around selling assets out the ass.

The oil companies we worked for, suspect oil to reach $10/barrel soon :cool: - meanwhile gas in some American cities is barely $0.45/gallon (that's roughly $0.11/litre of fuel) with the current price of oil, quite shocking.

There's several "large" oil companies falling apart rapidly right now.. Just a small example (we do work with BP, Keystone, etc) and some of our clients (none of the names I've since mentioned) are already selling their company piece by piece, not just their oil fields but everything including their corporate offices. Even other large companies such as Pioneer, Apache, etc are all suffering. Its just hard to tell who will recover from it as easily as others.

EDIT: Just read Halliburton is laying off another 8,000 employees in my home city next week.

Some brief tips and story:

Ever since high school, my Junior year, I've been dabbling in the market. When I first began there was little profit being made and often times I would lose every penny. The fact of the matter is: you're going to lose. And there's pretty much always risk, especially in today's market. A handful of things I recommend for beginners is as follows:

1. Do your research! Research, research, research!
2. Know how much money you're willing to (or comfortable with) spending and losing.
3. Be patient. Don't rush a trade, and don't panic-sell.
4. Never buy or sell early in the day (e.g. at market opening).
5. And finally, always check the “bid size” and the “ask size” for any stock before entering a buy or sell order.
   
   Hint: A large ask-size will usually determine a bunch of people trying to sell the stock (or jump ship).
   Why does this matter? Two reasons:
   

   1. You can avoid a huge loss.
   2. You can net a gain long-term (buying low).

If you have any questions, let me know. I'm a daily trader but very rarely take large profits because I don't have large amounts of liquidable cash. However, I'd say when I began trading, about 70%-80% of the stocks I invested it netted a loss. But today, it's the other way around. You really just need to be patient in the beginning.