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Crude oil

WhatExit?

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About 150 years of oil history in graphs. Strategists Jim Reid and Nick Burns did so with straightforward charts published April 22 that shows both the nominal price of oil since 1870 and the cost of crude in real, or inflation-adjusted, terms in U.S. dollars (see chart below):

Screen Shot 2020-04-22 at 1.01.09 PM.png


 

LargeOrangeFont

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There are a handful of oil production company stocks, that for all intents and purposes with some margin for error, act as a proxy for Oil prices. They trade very closely to the movement in oil prices and incorporate the curve (forward price contract months). They are not as susceptible to getting slapped around by odd situations to correlated products.

I thought I was gonna lose my ass on GUSH because of all this, but it is still going up. Up 75% in the last month, and 10% in the last week.
 

Halvecto

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I thought I was gonna lose my ass on GUSH because of all this, but it is still going up. Up 75% in the last month, and 10% in the last week.

👍

PSA: "Bulls make money, bears can make money, but pigs usually get slaughtered”.

Enjoy it. Keep an eye on the "IV" - The indicative value. It will print a price thru the day, independent of the shares and will tell you if the fund is out of whack from the underlying assets.
 
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WhatExit?

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Crude-oil prices jumped Thursday, extending a period of huge volatility that has ricocheted through the energy industry and broader financial markets. Traders are bracing for more gyrations in the coming weeks.

West Texas Intermediate futures that will deliver oil in June, the U.S. benchmark, rose 20% to $16.47 a barrel. Brent crude futures, used to set prices for oil throughout global energy markets, rose 8.6% to $22.12 a barrel.
 

Wedgy

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Oh Canada! 4Billion, ouch. I hate it when that happens... I shudder to even think of what happened to the Funds I'm in.

Taco Bell Chihuahua,: "I think we're going to need a bigger boat..."
 

ChumpChange

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Last week I looked at Chesapeak and Transocean. Had I bought CHK, I would have tripled my money in the last week. Guess I made the wrong call.
 

Wedgy

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Crude-oil prices jumped Thursday, extending a period of huge volatility that has ricocheted through the energy industry and broader financial markets. Traders are bracing for more gyrations in the coming weeks.

West Texas Intermediate futures that will deliver oil in June, the U.S. benchmark, rose 20% to $16.47 a barrel. Brent crude futures, used to set prices for oil throughout global energy markets, rose 8.6% to $22.12 a barrel.
I know, Right? If I only had kept my MSFT. Or put that 20K in IBM in 1973.

Up off yesterdays high around $5 so far today , 63% net long positions, most since February 10th. Not a clue why. Storage problem solved since yesterday? IDK. Must be some June demand to have eased the glut enough for this bump. Mebe. I doubt if $20 Oil is even turning over Dollars for Producers. No Debt Operations will survive. Heavy Debt Operations are going to struggle. Supply and Demand must be good indicators.

$40 right now probably looks like, "The Holy Grail." Not sure if you could Frack at $40, Drilling has come a looong way over the years. though. If it's even close they figure out another more efficient way.

Stay Strong RoughNecks

 

boatnam2

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Last week I looked at Chesapeak and Transocean. Had I bought CHK, I would have tripled my money in the last week. Guess I made the wrong call.
I lost my ass on CHK, i wouldn't mess with them, thinking they will BK soon.
 

78Southwind

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So I bought some USO after they did the 8 to 1 reverse split and made it's stuctural changes to buy future contracts further out into the future. I am up about 12%. Is there any good reading out there to find out when to get out of this crap or with the structural changes is it more of a medium term hold now?
 

Spudsbud

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As of today 05/05 Crude is up 100% in 1 week. Since last Weds at $12.00, to $24.00 today. From CNBC just now !
 

gqchris

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So I bought some USO after they did the 8 to 1 reverse split and made it's stuctural changes to buy future contracts further out into the future. I am up about 12%. Is there any good reading out there to find out when to get out of this crap or with the structural changes is it more of a medium term hold now?

I did the same and have no idea what im doing. LOL
 

RiverDave

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I bought USO UCO, still down about 2k from when I bought but at least it’s coming back now. Lol

I’m in it for the long haul
 

Carlson-jet

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Buying oil on the cheap in the past has been very good to investors. Be very careful about bankruptcies this go round. I would also keep an eye on what D.C. is doing to prop this industry up. It could be huge gains or losses depending on what cards you draw.
.
 

DILLIGAF

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I see my guy sold my RDSA yesterday. It will probably be up 100% today....lol
 

LargeOrangeFont

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Still holding and buying more GUSH here. Upside potential is ridiculous!
 

78Southwind

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78Southwind

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So I bought some USO after they did the 8 to 1 reverse split and made it's stuctural changes to buy future contracts further out into the future. I am up about 12%. Is there any good reading out there to find out when to get out of this crap or with the structural changes is it more of a medium term hold now?

Well I got out of this crap today at a little over a 10% gain. Anyone still holding this crap? If so what is your strategy?
 

78Southwind

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https://markets.businessinsider.com...-broker-from-buying-futures-2020-5-1029227659

  • USO — an oil exchange-traded fund that's wildly popular with traders — has been cut off from buying oil futures contracts after a surge in volatility saw oil prices turn negative last month.
  • RBC Capital Markets has informed United States Commodity Funds, the operator of the USO ETF, that they may no longer hold positions in or buy oil futures contracts until further notice, according to a Thursday SEC filing made by the ETF.
  • As a result of RBC's actions, USO says it may hold larger amounts of treasuries and cash, "which will further impair USO's ability to meet its investment objective," according to the filing.
 

78Southwind

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Well I got out of this crap today at a little over a 10% gain. Anyone still holding this crap? If so what is your strategy?

So has anyone that bought USO checked out their K1 yet? I downloaded mine today. Now mind you this was purley gambling money I put in the United States Oil Fund, LP. I bought it through a Roth IRA and there wasn't any Unrelated Business Income. (once UBI exceeds $1,000 then you have to fill out form 990-T). Though I had a little over a 10% gain (bought at $19.17 and sold at $21.14) the Partnership had a 36% loss. Since the ETF/P is treated like a Limited Partnership the loss is passed to the Limited Partners via the K1. However, since I owned the ETF/P in a retirement account it doesn't really matter. I believe the ETF/P was set-up as an Investment Fund and it doesn't own any property it could depreciate. So the loss would probably be from contango only.

How about those of you that owned it in an after tax brokerage account, did you have an actual gain but reportable loss? Or maybe a small actual loss but a larger reportable loss? Kind of interesting...
 

boatnam2

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Buying oil on the cheap in the past has been very good to investors. Be very careful about bankruptcies this go round. I would also keep an eye on what D.C. is doing to prop this industry up. It could be huge gains or losses depending on what cards you draw.
.
This, i had a bunch of CHK, some as low as a dollar, they went BK. Even worse they came back out and stock is about $50
 
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