(03-13-2020, 09:51 PM)crimsonghost747 Wrote: Damn, you guys have been busy.
I've been riding out this armageddon on a paradise island. It's been a blast: sea, sun, +1200m elevation hike to the top of a volcano, cheap beer, good food. Not a worry in the world!

Unfortunately there are a million things going on with my life at the moment so I haven't had much time to keep up with the market properly. Thankfully I now have the weekend to sort out what I've actually done and what I should do next week haha.

Also did something for the first time ever with stocks: I bought with a mobile app. I didn't have my laptop so I had to improvise! It's a pain but hey, I managed to add to RTN, TD, BIP and HON on Thursday.

Dividend Dragon asked about buy levels.
For me, I look at the S&P500.
My plan says to make additional purchases when the S&P500 is trading around
2750
2600
2500
2425
2350
2000

I'm not actually sure if I got all of the 2600 level money in, I know I didn't get any of the 2500.
So here is to hoping we go all the way to 2000!

(03-13-2020, 05:55 PM)fenders53 Wrote:

(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: 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.

It might keep the 100 or so independent frackers and their local towns in business until after the election normally.  But we have a virus that is going to shut down the world according to many and cut demand several million barrels per day for many months.  If you fill the reserve and then release it back to the market, you are now competing with the same market in a few months and just taking up part of supply. So I guess we'll watch oil prices and see if it raises prices $15+ so everyone is happy for more than a couple months.  The oil futures will let us know very soon what is reality.  It should spike up bigly if you are right.  We'll know in just a few days after they run the actual math.

(03-14-2020, 12:04 PM)vbin Wrote:

(03-13-2020, 05:55 PM)fenders53 Wrote:

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

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

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

It might keep the 100 or so independent frackers and their local towns in business until after the election normally.  But we have a virus that is going to shut down the world according to many and cut demand several million barrels per day for many months.  If you fill the reserve and then release it back to the market, you are now competing with the same market in a few months and just taking up part of supply.  So I guess we'll watch oil prices and see if it raises prices $15+ so everyone is happy for more than a couple months.  The oil futures will let us know very soon what is reality.  It should spike up bigly if you are right.  We'll know in just a few days after they run the actual math.

Agree with you on demand. But on a contrary a lot of countries, India, China etc who import most of their oil will try to take advantage of this opportunity as well and fill up their reserve.so.we shall see.

(03-13-2020, 09:51 PM)crimsonghost747 Wrote: Damn, you guys have been busy.
I've been riding out this armageddon on a paradise island. It's been a blast: sea, sun, +1200m elevation hike to the top of a volcano, cheap beer, good food. Not a worry in the world!

Unfortunately there are a million things going on with my life at the moment so I haven't had much time to keep up with the market properly. Thankfully I now have the weekend to sort out what I've actually done and what I should do next week haha.

Also did something for the first time ever with stocks: I bought with a mobile app. I didn't have my laptop so I had to improvise! It's a pain but hey, I managed to add to RTN, TD, BIP and HON on Thursday.

Dividend Dragon asked about buy levels.
For me, I look at the S&P500.
My plan says to make additional purchases when the S&P500 is trading around
2750
2600
2500
2425
2350
2000

I'm not actually sure if I got all of the 2600 level money in, I know I didn't get any of the 2500.
So here is to hoping we go all the way to 2000!

(03-15-2020, 04:48 PM)divmenow Wrote: Breaking - Federal Reserve cuts rates to zero and launches $700 billion quantitive easing program.

Futures are down 800 points right now on the news.  I want to add a few utilities tomorrow.

These sectors should do well when rates are lowered are .


Gold
Utilities
Drugs
Reits
Oil
Infrastructure
High dividends
Small caps


BREAKING: 8 of the biggest U.S. banks say they will suspend share buybacks though Q2 of 2020. The banks are: Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, State Street & Wells Fargo.

(03-15-2020, 06:51 PM)fenders53 Wrote:

(03-13-2020, 09:51 PM)crimsonghost747 Wrote: Damn, you guys have been busy.
I've been riding out this armageddon on a paradise island. It's been a blast: sea, sun, +1200m elevation hike to the top of a volcano, cheap beer, good food. Not a worry in the world!

Unfortunately there are a million things going on with my life at the moment so I haven't had much time to keep up with the market properly. Thankfully I now have the weekend to sort out what I've actually done and what I should do next week haha.

Also did something for the first time ever with stocks: I bought with a mobile app. I didn't have my laptop so I had to improvise! It's a pain but hey, I managed to add to RTN, TD, BIP and HON on Thursday.

Dividend Dragon asked about buy levels.
For me, I look at the S&P500.
My plan says to make additional purchases when the S&P500 is trading around
2750
2600
2500
2425
2350
2000

I'm not actually sure if I got all of the 2600 level money in, I know I didn't get any of the 2500.
So here is to hoping we go all the way to 2000!

(03-15-2020, 04:48 PM)divmenow Wrote: Breaking - Federal Reserve cuts rates to zero and launches $700 billion quantitive easing program.

Futures are down 800 points right now on the news.  I want to add a few utilities tomorrow.

These sectors should do well when rates are lowered are .


Gold
Utilities
Drugs
Reits
Oil
Infrastructure
High dividends
Small caps


BREAKING: 8 of the biggest U.S. banks say they will suspend share buybacks though Q2 of 2020. The banks are: Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, State Street & Wells Fargo.

Red,Red,Red!!!

I don't know that it will do any good now, but the market has about all the rocket fuel it could ever hope for to bounce quickly when the flu begins to subside.

If times were normal what you said is correct  This is far from normal and I would go slow.  I sold my heath care ETF on Thursday.  Not that I wanted to lighten up.  Figured if I sucked my thumb a couple days I might get a chance to move it to individual stocks and increase my entry yield.  My covered calls expired so I am almost hedgeless now unfortunately.  I think I'll regret it if I sell new ones down here.  It's going to be another interesting week.  I'll probably re-arrange a few more chairs on the Titanic port if it makes sense.

(03-15-2020, 08:27 PM)vbin Wrote: 2000 coming.

(03-15-2020, 09:13 PM)fenders53 Wrote:

(03-15-2020, 08:27 PM)vbin Wrote: 2000 coming.

$2000 for 100 shares of XOM?

Calm down, it might not be that bad.  

(03-15-2020, 09:58 PM)vbin Wrote:

(03-15-2020, 09:13 PM)fenders53 Wrote:

(03-15-2020, 08:27 PM)vbin Wrote: 2000 coming.

$2000 for 100 shares of XOM?

Calm down, it might not be that bad.  

You have been thinking that since 3400. Look at what goldman is saying and put some thought into why.