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What Did You Buy Today?
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!!

I would love for you to be right on that  Big Grin  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, 04:49 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.  Smile

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.  Big Grin Big Grin Big Grin
(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  Big Grin  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.  Big Grin 

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.
(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.
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.
Oh and forgot to mention there are plans to increase the storage upto 1.5 billion. No idea where that is. Don't underestimate the govt. You cant fight with them. If they want they will bring the price to dirt or take it to moon
(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.  Smile

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.  Big Grin Big Grin Big Grin
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, 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.
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.
(03-13-2020, 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  Big Grin  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.  Big Grin 

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 Tongue .... 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  Big Grin Big Grin Big Grin Big Grin

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.
(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.  Smile

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.  Big Grin Big Grin Big Grin
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.
Missed this earlier.  The high today was like 3:59PM    Don't make me scroll up and see when you posted that put buy. Smile 

On a more serious note.  There is nothing wrong with hedging.  I was hedged with covered calls on most of my positions.  That sure wore out quickly this time lol.  Nothing works all the time or you'll go broke protecting yourself from going broke.  Nobody told me the market was going to drop 7000pts.  Well except maybe Armageddon Otter lol.  If the market heads higher, which I don't actually expect, I'll hedge in some form.  I have no idea if yesterday was the bottom, but no chance we are heading straight up soon.  I highly suspect the last hour was a short squeeze.  The whole world is short and that is a delicate situation when machines go nuts on short notice.
(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  Big Grin  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.  Big Grin 

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 Tongue .... 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  Big Grin Big Grin Big Grin Big Grin

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.
I have a long position in FUN I purchased days too early before the free fall.  I am going to trade it some too.  I'm no high roller.  My trades are small.  FUN is a good trade for me for a couple reasons.  I know the company well enough.  It's not some random day trade ticker to me.  And if I get stuck with some $20 shares, I guess I just averaged my long position way down and wait it out.  The div is safe for a while if things get horrible.  If I was paying closer attention I would have dumped my trading shares at the close today.  It seems to have decent support just above 20 so I'll grab some more if I get another chance.  If it blows through 20 for more than a few minutes something is probably wrong and I'll regroup.
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!




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