Trade tip for my Politico Bros

El OchoCinco

El OchoCinco

So this sell off could last for a long time because it is not all about Corona..market had such a long run sometimes it needs legs taken out so it can stand up again.

But Oil is taking it in the ass and for other reasons as well but not something that will last more than into the summer. Since we all "friends" and the other trading sections have deteriorated here is what I did this morning:

OILU ProShares UltraPro 3x Crude Oil (OILU)

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Went in this morning after the open and loaded up on shares average $2.60.

If Oil returns to normal by the FALL and this is back to $30, it is like buying options on Crude oil with no expiration.

Lottery ticket for very little.

Find your ticket today with the market this down but avoid most stocks as they could still fall further.

Back to Trump sucks and Obama ruined the world.
 
Here4money said:
Loaded on USO premarket but I like this leveraged play
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Was looking at USO as well but went leveraged due to lower price (i.e. I am only risking $2.60 a share to $0 and USO could fall further). Was going to leverage with option LEAPS but these are priced at long term options right now.
 
I bought XOM and BP. Figured its a proxy for the oil play while going with a nice dividend stock as well (assuming they don't cut it).
 
I avoided the stocks only because the sell off seems uncontrolled and no way of knowing the bottom. For 401K and IRAs though with long term outlook.....XOM is going to look like a steal @ $42.....

I would back the truck up on XOM if I could...beep beep beep. Once Russia and Saudi stop their fucktarded games, we should see normalization in oil...by the Fall.
 
Oil Glut...

Lost my job in oil exploration in 1982 after just a few months there, a little firm in Pasadena called Geophysical Systems Corporation. Only time I've ever been laid off.

I wasn't an intrepid explorer out in the field with a dusty hat. I was a $7.50 per hour technician who tested/troubleshot circuit cards used in geophones. One truck had a big foot that would slam the Earth and other trucks had miles of cabling with geophones that collected data for analysis. In some ways it was the best job I ever had as we were a tight little unit and it was fun. I used to dream at night about the circuits. All the rework girls were from S.America and we were all about 20 years old. We would all congeal at a Mexican restaurant across the street after work and drink. It was the best.

Reagan deregulated the market and other factors caused oil to drop and everyone stopped looking for it and there was major oversupply. I've seen this goat-rope before. The firm went bankrupt and is defunct.

Usually I would say "leave in May and stay away" but now is a good time to step back if you are cashed up. I don't think this will swing back immediately. Just my opinion. I'm not saying don't buy in just saying it might be a long cycle. Not like last week.
 
Oil is a year play...........We could back to oil in the $40s- $50s by end of the year and that would not be a stretch. XOM at $43? Watch XOM hit $65 by January while oyu collect 6% yield.
 
El OchoCinco said:
Oil is a year play...........We could back to oil in the $40s- $50s by end of the year and that would not be a stretch. XOM at $43? Watch XOM hit $65 by January while oyu collect 6% yield.
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Absolutely. If you can tolerate a long play you should do very well. Guys looking to swing in a few days aren't going to be happy imho.
 
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