Anybody Buying Yet? Where’s the Bottom?

[BigHornRam]

Corb's lyrics illustrate the importance of oil. It will be needed and used for a good long time. So, I'd take a longer view of your stock.

I used to trade XOM stock inside the company savings plan. I'd sell when it had a little run, and then buy more shares with a dip in the stock price. I likely got 50 to maybe a 100 more shares, doing that. Then one time it made a nice upward move, and I sold the stock, awaiting a dip that never came. After I realized that the train had left the station, I bought the stock once again. I also decided that buying and holding it was likely a sure winner.

As Corb's song says, more or less, if XOM goes to hell, there is going to be enough misery to spread around.

"No one wants paper money son, so might as well stop counting."

 

[Treeshark]

Lookin red again boyz…

 

[SAJ-99]

Lookin red again boyz…

Hassett on CNBC telling us how great everything is. The guy is amazing.

 

[Treeshark]

Hassett on CNBC telling us how great everything is. The guy is amazing.

He’s wack. Tomorrow looks like it may be another doozy.

 

[brymoore]

He’s wack. Tomorrow looks like it may be another doozy.

I looked up the futures…

S&P 500 down a little over 2%.

Oil, however, up just under 25%!



Crazy crazy.

 

[Nick87]

Not to derail this thread at all so if I am ill gladly take this down. Are any of you guys familiar with the the simulated trading especially those involving trading futures?

 

[Flatrock]

I looked up the futures…

S&P 500 down a little over 2%.

Oil, however, up just under 25%!

Yea 25% is pretty wild! As long as the Strait of Hormuz is shutdown, I have to assume that oil keeps going up. I don't see how it can't. Is $150, $200 possible? Seems ridiculous to even say but seems possible. Sounds like stockpiles around the world will start getting tapped into but that can only go so far. Have to assume the higher oil goes, the more emboldened Iran will be to stick it out. If tankers start moving though, then I'd assume we'd go back under $100 fairly quick.

That's a lot of guesses on my part though!

 

[brymoore]

Yea 25% is pretty wild! As long as the Strait of Hormuz is shutdown, I have to assume that oil keeps going up. I don't see how it can't. Is $150, $200 possible? Seems ridiculous to even say but seems possible. Sounds like stockpiles around the world will start getting tapped into but that can only go so far. Have to assume the higher oil goes, the more emboldened Iran will be to stick it out. If tankers start moving though, then I'd assume we'd go back under $100 fairly quick.

That's a lot of guesses on my part though!

Still rising.

For the most part I agree with your thoughts. Lag them a reduction in price. I’m not sure how Iran’s oil production takes part in the world oil price due to the sanctions but the phantom oil is does flow.

 

[rogerthat]

View attachment 403575

Still rising.

For the most part I agree with your thoughts. Lag them a reduction in price. I’m not sure how Iran’s oil production takes part in the world oil price due to the sanctions but the phantom oil is does flow.

It’s going to be TACO TIME!!!!! if the trend continues! . Declare victory and gtfo!

 

[jryoung]

I'm glad we are so $*)Q!#@$ dominate in energy that these futures don't matter.

 

[cgasner1]

View attachment 403575

Still rising.

For the most part I agree with your thoughts. Lag them a reduction in price. I’m not sure how Iran’s oil production takes part in the world oil price due to the sanctions but the phantom oil is does flow.

Safe to assume your calls made you a bunch of money on it then?

 

[SAJ-99]

Not to derail this thread at all so if I am I’ll gladly take this down. Are any of you guys familiar with the the simulated trading especially those involving trading futures?

You just have to open a margin account and fill out some paperwork to get approved for futures. Most brokerages allow it, including RHood. Simulated trading is typically a button to click that allows you to trade “play money” and get used to the fees and margin movements. Send me a PM if you want.

 

[SAJ-99]

Yea 25% is pretty wild! As long as the Strait of Hormuz is shutdown, I have to assume that oil keeps going up. I don't see how it can't. Is $150, $200 possible? Seems ridiculous to even say but seems possible. Sounds like stockpiles around the world will start getting tapped into but that can only go so far. Have to assume the higher oil goes, the more emboldened Iran will be to stick it out. If tankers start moving though, then I'd assume we'd go back under $100 fairly quick.

That's a lot of guesses on my part though!

My $.02. Mostly a short squeeze overnight as traders were net short on contracts going into the weekend. The rise seems overdone over $110, but yeah anything possible.

Not clear info coming from the region. Iran hit a cargo ship and a tug boat early Sunday. I’m not sure if that is intentional or just random. Heard a tanker got through overnight, but mostly everything is stuck because of the risk. Only so many tankers in the world, most are full of oil, and building new ones takes a while. Government Geico won’t matter.

Trump and Xi meet later this month. He is going to tell China to just buy our oil, which they will gladly do (and why WTI is $110) if the tanker capacity is there. Consequently prices will fall more slowly than they went up.