Trade tip for my Politico Bros

El OchoCinco said:
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.....

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Ocho... those 3X Bull and Bear etf's aren't made to be held. I don't know the technical intricacies of how they work, but there's something about balancing(?) or something like that, that they all decline over time. I mean sure you can get a great spike short term... but you might wanna do some research before you buy those things to hold them. I'm pretty sure that's a bad idea. Fwiw...

Edit: oops... I see Max said the same thing.
 
vanzandt said:
Ocho... those 3X Bull and Bear etf's aren't made to be held. I don't know the technical intricacies of how they work, but there's something about balancing(?) or something like that, that they all decline over time. I mean sure you can get a great spike short term... but you might wanna do some research before you buy those things to hold them. I'm pretty sure that's a bad idea. Fwiw...

Edit: oops... I see Max said the same thing.
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Yeah I need the movement in oil higher to be at a rate faster than the loss in rolling contracts... Next few weeks will see chop and nothing as Corona slows down travel and oil demand. I need to make it past that point and see oil get back into the $40s for amaybe a move back to $8- $10 range. Would love to see it run to $20 and over but would need some crazy oil movement higher.

So OILU will be a much shorter play but XOM and USO are definitely rest of the year.
 
UsualName said:
The world is going to shut down one way or another and the markets know it. Only Trump and his moronic children didnt seem to get it.
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You need to follow the advice of your guru, Joe Biden, and put the record player on and chill out a little.

Every voter in American should be required to watch this the night before the election and ask themselves if they really want to sign up for this.

 
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