(03-13-2020, 04:49 PM)kblake Wrote: OIL is going to the moon next week. Just watch. I just added 6 names in the after market. You heard it here first. Buy all you can!!

(03-13-2020, 04:49 PM)kblake Wrote: OIL is going to the moon next week. Just watch. I just added 6 names in the after market. You heard it here first. Buy all you can!!

(03-13-2020, 05:03 PM)divmenow Wrote:

(03-13-2020, 04:49 PM)kblake Wrote: OIL is going to the moon next week. Just watch. I just added 6 names in the after market. You heard it here first. Buy all you can!!

I would love for you to be right on that    I will say XOM wasn't even this low when oil was $10 a barrel way back when.  You will do well in the sector in the long run.  It will recover. If I had 100k lying around I would put in all in XOM over the next 3 years haha

(03-13-2020, 04:40 PM)fenders53 Wrote:

(03-13-2020, 04:28 PM)vbin Wrote:

(03-13-2020, 01:27 PM)fenders53 Wrote:

(03-13-2020, 01:20 PM)vbin Wrote:

(03-13-2020, 12:53 PM)fenders53 Wrote: You are correct, $20 oil is definitely not sustainable.  We need sustainable $50 oil.  How is the gonna happen with your Corona/recession thesis?  Majors were dropping like a rock well south of 50 a barrel.  I no longer see a path.  Only good for trading and a small gambling position.  Admitting I made a mistake early enough is usually good for my portfolio's health.  Had I bought a major at this weeks prices, all would be well, but I missed by months along with most every active poster here.   I'm pretty confident in that statement.

If trump really wants. He can do the same he did with China. Just put tarriffs on oil and boom overnight oil prices go to $50. U.s.a hardly has 20-30% oil surplus.

I don't think he is going to do that yet becouse cheap oil helps with economy. For short term there is pain but I am not convinced to take a loss on oil majors. This is going to  rebound one or the other way.

He has MANY times stated he wants cheap oil, and cheap gasoline.  It's here.  Paying frack worker unemployment benefits no big deal.  Just put it on our deficit tab.  Some other Prez can deal with it later.  Oil will rebound to $40-45 by late summer.  Not good enough for my failed oil investment thesis I once had.  I'm the bear now lol.

He played very well then becouse he just announced we will be buying oil for strategic reserve, they can keep buying a million barrel a day for next 2 years. That's wonderful.

Do some research on your math.  Tanks aren't that big and they are never anywhere near empty.  It will help this month though.  Better than a poke in the eye for sure.  Some more tanks would be good, but the US is always flush with oil so that may or may not make strategic sense.   

All that said it does help though, because when the Saudi discount takes affect in April we can't export oil profitably.  For now our oil has a buyer while OPEC and Russia come to their senses. (which I think they will)  Hopefully the frackers don't step up production tomorrow and unfix the remedy.  I'm not optimistic as they have loan payments.

(03-13-2020, 05:27 PM)fenders53 Wrote:

(03-13-2020, 04:49 PM)kblake Wrote: OIL is going to the moon next week. Just watch. I just added 6 names in the after market. You heard it here first. Buy all you can!!

I'm starting to get tired of your foolishness kblake. 

Just kidding, I own plenty and hope you are right.  I'm not selling yet because I'm an idiot, but next time I want to buy more oil I'm going to buy beer and lotto tickets instead.

PS, good call on the market direction today..... not.  And send my regards to your shortie friend vbin.  

Just having fun. 

(03-13-2020, 05:44 PM)vbin Wrote:

(03-13-2020, 04:40 PM)fenders53 Wrote:

(03-13-2020, 04:28 PM)vbin Wrote:

(03-13-2020, 01:27 PM)fenders53 Wrote:

(03-13-2020, 01:20 PM)vbin Wrote: If trump really wants. He can do the same he did with China. Just put tarriffs on oil and boom overnight oil prices go to $50. U.s.a hardly has 20-30% oil surplus.

I don't think he is going to do that yet becouse cheap oil helps with economy. For short term there is pain but I am not convinced to take a loss on oil majors. This is going to  rebound one or the other way.

He has MANY times stated he wants cheap oil, and cheap gasoline.  It's here.  Paying frack worker unemployment benefits no big deal.  Just put it on our deficit tab.  Some other Prez can deal with it later.  Oil will rebound to $40-45 by late summer.  Not good enough for my failed oil investment thesis I once had.  I'm the bear now lol.

He played very well then becouse he just announced we will be buying oil for strategic reserve, they can keep buying a million barrel a day for next 2 years. That's wonderful.

Do some research on your math.  Tanks aren't that big and they are never anywhere near empty.  It will help this month though.  Better than a poke in the eye for sure.  Some more tanks would be good, but the US is always flush with oil so that may or may not make strategic sense.   

All that said it does help though, because when the Saudi discount takes affect in April we can't export oil profitably.  For now our oil has a buyer while OPEC and Russia come to their senses. (which I think they will)  Hopefully the frackers don't step up production tomorrow and unfix the remedy.  I'm not optimistic as they have loan payments.

U.S. has anywhere between 800 Million to a billion storage cap. Last time I checked we were close to 500 million. Now that doesn't mean that oil never gets used. So in a rough estimate you can see where it's going.

(03-13-2020, 05:37 PM)fenders53 Wrote:

(03-13-2020, 05:03 PM)divmenow Wrote:

(03-13-2020, 04:49 PM)kblake Wrote: OIL is going to the moon next week. Just watch. I just added 6 names in the after market. You heard it here first. Buy all you can!!

I would love for you to be right on that    I will say XOM wasn't even this low when oil was $10 a barrel way back when.  You will do well in the sector in the long run.  It will recover. If I had 100k lying around I would put in all in XOM over the next 3 years haha

Why let that stop you?  Commissions are free.  Talk is cheap so sell your 50 positions and put your money where you mouth is.   

I'm putting my entire port in SKT and FUN on Monday.  Same chart as XOM so why not?  

P.S. My port is up enough today to buy a brand new truck.  Too bad I lost two Beamer's earlier this week lol.  Damn the last two weeks were rough.  The market was less volatile during both world wars when like 10 million people died and that's no exaggeration.

 stock up on water, toilet paper and alcohol wipes to weather the storm, I'm in for 10.000 shares 

(03-13-2020, 05:48 PM)vbin Wrote:

(03-13-2020, 05:27 PM)fenders53 Wrote:

(03-13-2020, 04:49 PM)kblake Wrote: OIL is going to the moon next week. Just watch. I just added 6 names in the after market. You heard it here first. Buy all you can!!

I'm starting to get tired of your foolishness kblake. 

Just kidding, I own plenty and hope you are right.  I'm not selling yet because I'm an idiot, but next time I want to buy more oil I'm going to buy beer and lotto tickets instead.

PS, good call on the market direction today..... not.  And send my regards to your shortie friend vbin.  

Just having fun. 

I closed all my puts yesterday. 1 remaining which was opened at high today. I consider it hedge against the other reds I have been seeing. Puts act as a bandage when rest of your portfolio is bleeding.

(03-13-2020, 07:21 PM)divmenow Wrote:

(03-13-2020, 05:37 PM)fenders53 Wrote:

(03-13-2020, 05:03 PM)divmenow Wrote:

(03-13-2020, 04:49 PM)kblake Wrote: OIL is going to the moon next week. Just watch. I just added 6 names in the after market. You heard it here first. Buy all you can!!

I would love for you to be right on that    I will say XOM wasn't even this low when oil was $10 a barrel way back when.  You will do well in the sector in the long run.  It will recover. If I had 100k lying around I would put in all in XOM over the next 3 years haha

Why let that stop you?  Commissions are free.  Talk is cheap so sell your 50 positions and put your money where you mouth is.   

I'm putting my entire port in SKT and FUN on Monday.  Same chart as XOM so why not?  

P.S. My port is up enough today to buy a brand new truck.  Too bad I lost two Beamer's earlier this week lol.  Damn the last two weeks were rough.  The market was less volatile during both world wars when like 10 million people died and that's no exaggeration.

Man I thought we were done hearing about SKT once we got below $9 .... Now if all SKT Tennants  stock up on water, toilet paper and alcohol wipes to weather the storm, I'm in for 10.000 shares 

I missed out on buying FUN today.  But Its 1 day UP and we all know rome wasn't built in a day right lol.