Oil Bailout

kmiklas · Apr 22, 2020

USO didn't pop on the news. Not sure why.

donnap · Apr 22, 2020

kmiklas said:
USO didn't pop on the news. Not sure why.

View attachment 225704

Oil Cos. not CL, not demand, not storage, not USO.

MrMuppet · Apr 22, 2020

USO is locked. They cannot issue more shares without SEC approval.
Barklays shut down OIL yesterday.

That's what you get when you invest in shit like this without knowing the prospectus

SanMiguel · Apr 22, 2020

kmiklas said:
USO didn't pop on the news. Not sure why.

View attachment 225704

Supporting the companies not the demand so much.

kmiklas · Apr 22, 2020

SanMiguel said:
Supporting the companies not the demand so much.

Ty

tradingambassador · Apr 22, 2020

Oil is on Fire. I short Spot Oil on Prime with leverage. Now it's perfect opportunity to trade traditional market. Crypto sucks!

schizo · Apr 22, 2020

donnap said:
Oil Cos. not CL, not demand, not storage, not USO.

SanMiguel said:
Supporting the companies not the demand so much.

Well, how are you gonna bail out the oil companies without boosting demand? The only reason why there is a glut of oil is because of lack of demand due to a lockdown. And since there are sooooooooo much excess supply of oil, there isn't enough storage. Isn't that why crude oil futures is trading in the negative?

SanMiguel · Apr 22, 2020

schizo said:
Well, how are you gonna bail out the oil companies without boosting demand? The only reason why there is a glut of oil is because of lack of demand due to a lockdown. And since there are sooooooooo much excess supply of oil, there isn't enough storage. Isn't that why crude oil futures is trading in the negative?

Ask Trump. He wants to bail them out during a period of no demand