Oil prices and Biden Win

bob2007 said:
Will Biden be bad for oil bc of all the green investments...

Or will Biden be good for oil bc of the anti Fracking and anti pipeline stance?

XOM is up 14% today. I am scared of holding too long and exited.
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When oil price ( or XOM) goes up, it doesn't mean it is good.

When oil price moves massively up or down, it is good for day trading.

When oil price hardly moves, it is bad for day trading.
 
Bullish : Anti fracking regulation, Possible reviews of pipelines already in place, Pfizer Vaccine, Asian demand.

Bearish : Probable end of Iranian and Venezuelan crude ban, green fuel agenda, Europe renewed lockdowns.
 
Bingo . Bp didn’t deserve to be at $14 a week ago and it’s near $20 this am . It’s just speculators taking advantage of movement . What if these vaccines get widely distributed and even 30-40 people start dieing ? Many people with other problems will die . Will people stop taking the vaccine? The answer is yes . The bottom like regardless of vaccine’s few will hop on planes or cruise ships for many yrs . The world has changed .
 
hafez50 said:
Bingo . Bp didn’t deserve to be at $14 a week ago and it’s near $20 this am . It’s just speculators taking advantage of movement . What if these vaccines get widely distributed and even 30-40 people start dieing ? Many people with other problems will die . Will people stop taking the vaccine? The answer is yes . The bottom like regardless of vaccine’s few will hop on planes or cruise ships for many yrs . The world has changed .
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People are already hopping on planes.

I tried booking a tour guide to Machu Picchu a few days ago. They were booked for 2 weeks.
 
Can’t say about the near future but the prices of oil have actually gone up because of the vaccine announcement and Biden’s win. Who is to say what happens next.
 
Expecting Biden’s win to have some positive impact on the market. Gold and oil are the two things that I would like to invest in the coming year.
 
Jamesstefines said:
Expecting Biden’s win to have some positive impact on the market. Gold and oil are the two things that I would like to invest in the coming year.
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Gold/Sllver Mining stocks are way oversold right now if Gold holds $1800 area which should be solid support ( previous resistance ). Oil trade already started last week so the question is will $45 be it or are we going to $50+. Stimulus will help. Huge moves in numerous Canadian Oil plays last 3 or 4 trading days.

I sold my MEG at $4 today and will take profits on some others tomorrow morning prior to the inventory report. Mining is a wait and see game now short term I greatly reduced my Gold exposure last week, Silver miners I like the value play, Copper has been a great ongoing trade for months now just like in the 2009 recovery.
 
Jamesstefines said:
Can’t say about the near future but the prices of oil have actually gone up because of the vaccine announcement and Biden’s win. Who is to say what happens next.
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Vaccine plus the Biden win with a Republican Senate was ideal for Oil plays. Should hold unless there is huge build report ( always a possibility ).
 
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