Anyone here trying to buy a house? Im in the loan process for a
$300,000 house than Im putting $100,000 down me and my spouse and
credit scores of 780 & 740. And they are asking for every
document imaginable and some, I got loans in the past with only
paystubs and bank statements with a score of only 700 and 5% down,
the hard working honest American is the one really getting screwed,
cross your fingers that we get the loan!
A side note I forgot is USL if you dont want to or cant get into
futures, Im sure Matt has mentioned it, (only on the blog a few
days, and all I see is USO), but it covers a 12 month span of
futures contracts, better for long term trading of oil. USO barely
met its previous high, while USL covered it by about 12-15%. I am
only acting like an expert on USO because I already got burned.
Bought @ 45 when oil was breaking 55, eventually got rid of it when
oil was @ 62, but USO was @ 35. My fault for not understanding the
etf. Nut look at USL, returned to the same or close price, not 20%
+ less, I took a bath for my own ignorance, should have been a
member then, would have probably been warned by the masters.
You know what it funny, is that my business (I own a cafe) is
booming on furlough days, when the state workers are of they all
come in for breakfast, I feel for the businesses that rely on them
though, for many near the capital that is there main source, open
only M-F. But in the long run Cali is in trouble.
Shouldnt one look at $wtic to enter a uso trade rather than a
USO chart. Dont know how to post a stockcharts chart, but $wtic has
support @ 55, while USO is at support now, USO sucks to trade with
oil outside of a 1-2 day time frame, loses about 3% a month due to
future contracts, which are about $1.5 to $2 more each month out.
Once or IF futures contracts are ever less than current contracts
on $WTIC, then that will be a time to pounce and hold USO,
otherwise it is hard to play oil longer term.
Probably best way to play oil longer term is oil stocks, for
example, look at the comp of PBR and USO, as long as future
contracts are higher in value, USO will lose money monthly, not a
long or even month term hold.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
The community is delayed by three days for non registered users.
Mortgage Troubles
Posted by arissaj on 11th of Jul 2009 at 01:49 am
Anyone here trying to buy a house? Im in the loan process for a $300,000 house than Im putting $100,000 down me and my spouse and credit scores of 780 & 740. And they are asking for every document imaginable and some, I got loans in the past with only paystubs and bank statements with a score of only 700 and 5% down, the hard working honest American is the one really getting screwed, cross your fingers that we get the loan!
USL
Oil -Matt
Posted by arissaj on 11th of Jul 2009 at 01:41 am
A side note I forgot is USL if you dont want to or cant get into futures, Im sure Matt has mentioned it, (only on the blog a few days, and all I see is USO), but it covers a 12 month span of futures contracts, better for long term trading of oil. USO barely met its previous high, while USL covered it by about 12-15%. I am only acting like an expert on USO because I already got burned. Bought @ 45 when oil was breaking 55, eventually got rid of it when oil was @ 62, but USO was @ 35. My fault for not understanding the etf. Nut look at USL, returned to the same or close price, not 20% + less, I took a bath for my own ignorance, should have been a member then, would have probably been warned by the masters.
California Furloughs
California vs Texas
Posted by arissaj on 11th of Jul 2009 at 01:19 am
You know what it funny, is that my business (I own a cafe) is booming on furlough days, when the state workers are of they all come in for breakfast, I feel for the businesses that rely on them though, for many near the capital that is there main source, open only M-F. But in the long run Cali is in trouble.
$wtic
Oil -Matt
Posted by arissaj on 11th of Jul 2009 at 01:15 am
Shouldnt one look at $wtic to enter a uso trade rather than a USO chart. Dont know how to post a stockcharts chart, but $wtic has support @ 55, while USO is at support now, USO sucks to trade with oil outside of a 1-2 day time frame, loses about 3% a month due to future contracts, which are about $1.5 to $2 more each month out. Once or IF futures contracts are ever less than current contracts on $WTIC, then that will be a time to pounce and hold USO, otherwise it is hard to play oil longer term.
Try for $WTIC chart
http://stockcharts.com/h-sc/ui?s=$wtic&p=D&b=5&g=0&id=p60598385059
Probably best way to play oil longer term is oil stocks, for example, look at the comp of PBR and USO, as long as future contracts are higher in value, USO will lose money monthly, not a long or even month term hold.