I did XOM and BP for at least a year or so.
Trade tip for my Politico Bros
- Thread starter El OchoCinco
- Start date
I did XOM and BP for at least a year or so.
The first sign of life will be the government starting to refill/top-up the Strategic Reserve when its cheap to do so.
I cannot imagine oil staying under $30 during any type of recovery. These BP prices are Deepwater Horizon prices.
Amen...
These prices put unimaginable hurt on Russia and Iran but if it persists it will crush some of the shale operations here. Canada is in for a rough ride too.
I know you weren't too fond of Rictor but I would certainly like to hear from him. He was such an insider and had such a vast knowledge that his perspective was valuable.
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Yes I just transferred some cash into the brokerage account which gets no action....adding XOM and OILU tomorrow in the pre-market before the prices recover too much more. XOM might slide more with the DOW but OILU is at $1.81 in post market and if Oil can stablize even a little.....
OK I am locked and loaded with XOM and OILU.
In 2 years I will have my son's college fully paid off plus enough left over for hookers and blow...
In 2 years I will have my son's college fully paid off plus enough left over for hookers and blow...
'twas a good day for oil. Picked up 200 shares of XOM at bottom dollar intraday. USO rocked it.
Nice call, one thing i would mention is you have to be careful owning these 3x leveraged ETF's for anything more than a couple weeks or a month, a lot of them suffer from time decay cause they have to keep rolling over options to maintain leverage, Im not sure about this one though cause there is only a chart going back to 2017
Here is a chart of UGAZ to show you what i mean, at no point did it ever trade at 40k a share, it just keeps on splitting to keep from going to zero, alot of these leveraged ETF's trade the same way.
Here is a chart of UGAZ to show you what i mean, at no point did it ever trade at 40k a share, it just keeps on splitting to keep from going to zero, alot of these leveraged ETF's trade the same way.
Good point......If Crude Oil can simply go back to normal conditions it should keep a floor under this as oil prices move higher. I doubt I could sit on this for a year if they have to keep rolling into higher priced contracts to maintain leverage and eat away at the NAV. I do not know how long I can hold this but if it moves higher I might roll it into other oil holdings. The XOM was a better play but I was not looking to put $40,000 in it for 1000 shares.
If CL can get any type of support back to the $40s thant OILU can hopefully can climb above $10. Not a home run but still a nice return.
I am looking to see if I can also grab USO ITM options for more leverage and longer holding period.