From Boss Mike himself:
CAPEX reduction from $20B to $16B. Including decreases of
Suspending share repurchases and accelerating a decrease of $1B in opex this year.
CHOO CHOO!
seems like "savvy investor" ain't so savvy. lmao!
@dugv, You and the other down voters can go your own way. I acquired a major position in the S&P500 at 10:51 a.m. this Monday morning. I’m up 6% just today alone. By Friday this week, expect US markets to be higher. The train is moving forward.
The virus is going to completely wipe out Africa, India and the Mideast. There will be mass migrations, terror and war for the next three years. An economic Great Depression will last ten years. Buy gold.
You want a date to time the market with? Write this down. Get into the US broad market index on Friday, April 10. What’s so important about that date? On April 10 and over the weekend, the US cases of Coronavirus will plateau and within 48 hours start showing a downward trend. By this same date and the over the weekend, people will begin to report having received their stimulus payments. That would be two very positive pieces of news that will hit the airwaves back to back. That is what will change the direction of the stock market on Friday April 10 or Monday April 13. Shrug it off if you like. Remember this post one week later when you look back on having missed the best market timing entry points in a very long time. We’re about to see a rapid 30% gain starting on Friday April 10.
He woke up after he looked into his crystal ball and predicted that an isolated overseas epidemic was going to result in a market crash, lol. Watch for his next post after the market rebounds, and he'll post about when he got back in at the perfect time! About the same as the folks who claim they sold CVX right at 134.85.
@cnni, At what point did you wake up?
I saw the writing on the wall last year, advised those Around me to go to cash in esip like I did, now they are down 50% and about to be laid off . It’s going to be brutal , no money coming in by October, house prices falling, esip in half and millions unemployed. Welcome to the 1930,s again. I hope it ain’t so but can you give me a reason why it won’t repeat?
Cut travel in business class and fancy hotels! Layoff highly paid engineers or project managers who primarily function is to take meeting notes so that the PM is not doing his job!
@rvo, You are right. Oil is not the only game in town. But you gotta admit, it’s a nice game to be in if you have an oil job, isn’t it? That’s why people on this site are so anxious, they know that landing a better paying job for so little effort is hard to find.
This should be the time when they double share buybacks, but it won’t happen. Big corps love them some buy high / sell low.
@rco "This is not a joke. It is matter of loosing a livelihood for a family." WTF?
No.
I wonder if they will to a RAE like they did in 2016 first?
That’s one way of looking at it. Another is that it’s an opportunity to regain your life, to try something different, to realign your objectives, to reawaken your spirit when you were younger . Oil is not the only game in town.
This is not a joke. It is matter of loosing a livelihood for a family.
You are welcome.
Wow, so there will be layoff's this year? ... You don't say. ... Kudos to Captain friggin' Obvious!
It may begin with drilling capes, but it certainly won't end there. Many Chevroids believe they have a safe, essential office job and will not be laid off. Wrong! Oh well, many people have posted warnings here on what to expect and what is most likely to happen. And non of it is good. In the meantime, all aboard! The train will be leaving soon and you have a reserved seat.
Mostly just drilling capex.
Take out the knives and the lip balm. Let the back stabbing and arse kissing begin! Remember, from this day on. You have NO friends at Chevron. Don't even think about it or pretend. The same goes for team leads, supervisors and managers. Everyone is fair game and has a target on their back. Lots of unemployed Chevroids on the horizon.