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Oil prices... Anyone buying?

CLdrinker

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Looking at oil prices and they are lower per barrel than I have ever seen. Good place for our Trump checks?
Thoughts?
 

TBulger

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Nothing is a decent bet right now. From what I hear, Martial Law getting closer. Pull everything in and sit tight with the family.
 

Carlson-jet

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Might want to look into oil companies.
It's like gold. silver etc.
You can buy the end product or the company that produces it.
 

LargeOrangeFont

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I bought GUSH at .41/ share.
 
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2Driver

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I bought a little Chevron. They have stressed test the biz agaist $20 a barrel and are solid at least for now. But who knows. They are paying a 8% + dividend while you wait it out. could be a year or 2 wait for it to come back some but as long as they keep a modest dividend Im good even if they cut it in half to survive
 
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Mandelon

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Russia is going to pump and sell at $20 a barrel. Saudi Arabia will be a little bit behind. Gonna be tough for US companies for a while. I'd expect oil stocks to head up eventually, but it won't be quick. And this may not be the bottom...
 

Boozer

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Russia is going to pump and sell at $20 a barrel. Saudi Arabia will be a little bit behind. Gonna be tough for US companies for a while. I'd expect oil stocks to head up eventually, but it won't be quick. And this may not be the bottom...

The Saudi’s have said they can go all the way down to $10. They backed off previously but based on what Russia is doing I wouldn’t be surprised to see them make good on taking it to $10. When you consider the drop in demand that happened almost instantly and no idea how long it will last it could happen pretty fast.


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2Driver

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Why the fuck are we paying $3.40 for regular in Santa Barbara!?!?

Fuck CA and their fucking taxes!

I would guess they are still selling the 60 dollar barrel stuff and it needs to move though the system combined with them going as slow on the drop as possible to maximize margins
 

dryhoze1

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With Saudi production increasing & its intentions of getting an even bigger bite of the oil market, it’s going to be a very tough go for the sustainability of USA oil and it’s publicly traded companies.
Do your due diligence & invest wisely :oops:
 

pronstar

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We dropped a nickel, to $1.55


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Havasu Rehab

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I bought GUSH at .41/ share.

I started buying in too soon. My average price is $.90 a share. I believe it has a reverse split coming up in a few days. I honestly don’t know if that’s a good thing or a bad thing.


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dribble

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Screw oil. I bought some stocks in battered but very strong companies. One being a hospital equipment supply company that is down forty percent. Moved some money out of the bonds that everybody ran to. In our history this is a blip.
 

nowski

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I just bought some MRO this past week, in for the long haul $$$...
 

dryhoze1

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I’m with Dribble for reasons in my post above ( #13 )
I hate to see any of you guys lose money. Especially in such a market where some substantial Gaines can be made (in other stocks)
Just my opinion, and please take it for that. But if any of you guys have the opportunity to sell off your recent oil purchases (for what you paid in the near future) I’d do it !

Honestly, it wouldn’t surprise me if the Gush stock was .07-.10 in the near future.
 

n2otoofast4u

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I started buying in too soon. My average price is $.90 a share. I believe it has a reverse split coming up in a few days. I honestly don’t know if that’s a good thing or a bad thing.


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Well GUSH definitely split. I’m with you though, not sure if this is good or bad.
 

crzy2bealive

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I don't know if I should sell or not.....im almost at break even....

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Mandelon

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The reverse split. I was wondering how it went from 42 cents to $15 dollars.... then I remembered the split. LOL
 

n2otoofast4u

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Seems like just funny accounting to me. That said, oil is going to go back up, that’s a given. I’m going to ride it out.
 

LargeOrangeFont

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Seems like just funny accounting to me. That said, oil is going to go back up, that’s a given. I’m going to ride it out.

I'm riding it out for sure. the I still have the same $ amount just fewer shares. In theory everything should be the same. from a daily rise and fall in $ perspective.
 

Motoxxxloak

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Seems like just funny accounting to me. That said, oil is going to go back up, that’s a given. I’m going to ride it out.

I bought in at .39/share I believe. I bought 100 shares. Was wondering wtf happened when I opened up my app this morning and had an insane gain. Could not figure it out til I read this thread.


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farmo83

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The rich will get richer, I work at Chevron and the Mergers and Acquisitions group is in overdrive. Lower prices will dry up credit and cash reserves of smaller companies with weaker balance sheet and the big players will scoop them up for pennies on the dollar. The big players are cheap right now, stay away from the service sector or anyone with a lot of leverage. It'll be great assuming I don't get laid off.
 

LargeOrangeFont

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It split at 40 to 1. Doesn't that make it more like $.425 today or up a few pennies??

Put another way.. It went up 30% today. Your $ gain from yesterday to today would be a 30% increase, regardless of share quantity.

I also put some into QQQ mid day today and that went up 4%.
 

Motoxxxloak

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I ended up only buying 15 shares (thought I bought 100) of GUSH when it was like $.40. The split screwed me and was therefore told that due to the 1:40 split, I now hold no shares LOL.

I was then charged a $40 "reorganization fee" to cover the processing costs therefore, I lost way more than I bought in for!
 

dryhoze1

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I ended up only buying 15 shares (thought I bought 100) of GUSH when it was like $.40. The split screwed me and was therefore told that due to the 1:40 split, I now hold no shares LOL.

I was then charged a $40 "reorganization fee" to cover the processing costs therefore, I lost way more than I bought in for!



I’m sure largeorangefont will be along shortly to tell you it’s all good.
lol
 

LargeOrangeFont

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I’m sure largeorangefont will be along shortly to tell you it’s all good.
lol

I’m here! It’s all good.

And yea you are gonna get screwed in a reverse split if you end up owning less than 1 share.

I can’t see that I’ve been charged any fees due to the reverse split, but I also have more than one share.
 
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n2otoofast4u

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GUSH took a bit of a bath today, but hopefully will come back to even 40% of its previous 52 week high.
 

Motoxxxloak

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After the negative split i got scared and sold all my position's. Kicking myself in the ass.

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I had I think 50 shares when they split (cant recall) and lost them all. So I just re-bought in for more and so far, so great! Still may be worth it to jump in.
 

crzy2bealive

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I had I think 50 shares when they split (cant recall) and lost them all. So I just re-bought in for more and so far, so great! Still may be worth it to jump in.
Yah jumped back in. I set my stop in so I'll let it ride out.

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pronstar

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There’s a shitload of institutionalized shorting going on for July thru October deliveries...


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