Good on you TT!!! That was some rally last night ... (I sold...

Good on you TT!!!

That was some rally last night ... (I sold half my XLE position, love the strong rises in COP & RDS). I did however miss out on the CHK rally of 76% having given up hope on them last week. Stuck by them through thick and thin but it sure looked as if the end game was in play (still think it is).

I remain in selective trimming mode. Still don't believe in a V shaped recovery and still see a harsh recession coming. Keeping a lot of dry powder on hand. Off topic of O&G, that belief is driven by things being reported now in other companies, like one I'm partial to (Slack Technologies - WORK). They are front & center of "collaboration tech" and this wholeremote WFHA (Work From Home or Anywhere) is good for them ... every computer could be a workstation. Their software is flying out the door (so to speak) to make this happen. They beat the earnings consensus a couple of days ago. The trouble is corporations (large and small) are having trouble paying for it so collecting their deferred revenue (subscription basis) now is challenging i.e. for "sales" in the past.

"However, we believe that macroeconomic uncertainty is significantly greater today than it was then. Taking into account the puts and takes of the above, we continue to have visibility to guide to quarterly and full year revenue but our withdrawing our calculated billings guidance. "

That's a reddish flag for me on the "recovery".


Huge gains in MRO (18%) & PVA (16%) and your "warhorse" SNDE with 21% and that's with oil still at just below $40.

Really would like to see the long term believers do well (at least to recover investment or acceptable loss - TMB).

Let's see the result of the banking negotiations ... surely the rally oil price helps SNDE's operating plan to convince the banking syndicate that their money is safer with them than with some of the peers.