Posted by xxkumarxx on 20th of Apr 2020 at 01:36 pm
few weeks ago when you saw wti at 18.00 that is when USO was
rolling forward. However they hold 25% of the may and June
contracts. So It is likely that it blows up today. You
will only find out after hours. Fed pumping in so much money
is going to lead to a massive inflation spike if they can't control
it and that is when you want to be in oil. XOM, RDS, CVX etc.
Not just yet. if you want to invest in oil fund.
Wait for thing settle refineries to open and then you
want to buy DBO which is not limited to owning only font one or two
months oil contrats.
Posted by xxkumarxx on 20th of Apr 2020 at 02:00 pm
Honestly no one know what to expect in short term but I think in
long term in 1 to 2 yr we are going to have massive inflation and
oil will be at 100.00. BTW that contract is is now in
pennies.
You want to be in oil when the imbalance has clear signs of
improving - the OPEC cuts last week did little to change that
dynamic short term. Respect charts and be on the lookout for
news that would impact.
" ... when the imbalance has clear signs of improving." there is
no certainty in early triggers - an extremely valuable and
important comment to make about oil and trading commodities in
general. Thanks Steve.
One doesn't need to pick the exact bottom - those who have tried
end up with stinky fingers. On the other hand if you have a
support level and wish to take a shot go for it with a tight stop
if that's your style
You guys better understand supply and demand on oil prior to
guessing a bottom. Huge imbalance as I've stated many times.
Make sure you have EVIDENCE of a reversal. Huge
contango in place currently for those who now how to prosper from
it. Buy front month and sell out months but you must be able
to STORE IT
well that CZZ is an oil/gas play I posted below. I will note
that the general oil stocks have been out outperforming the
commodity.
as for as going long oil itself you need some sort of trigger, I
really don't see anything yet. Triggers I look for, patterns,
divergences, dojis, high volume reversals etc
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Any suggestions to go long
Posted by stsystem on 20th of Apr 2020 at 12:54 pm
Any suggestions to go long on an oil index fund now with oil at 8 dollars a barrel?
few weeks ago when you
Posted by xxkumarxx on 20th of Apr 2020 at 01:36 pm
few weeks ago when you saw wti at 18.00 that is when USO was rolling forward. However they hold 25% of the may and June contracts. So It is likely that it blows up today. You will only find out after hours. Fed pumping in so much money is going to lead to a massive inflation spike if they can't control it and that is when you want to be in oil. XOM, RDS, CVX etc. Not just yet. if you want to invest in oil fund. Wait for thing settle refineries to open and then you want to buy DBO which is not limited to owning only font one or two months oil contrats.
Thanks KUMAR, I Understood it
Posted by retirefire on 20th of Apr 2020 at 01:39 pm
Thanks KUMAR, I Understood it was futures contract and not strictly limited to Oil. I did check before I invested. Prospectus not.
Honestly no one know what
Posted by xxkumarxx on 20th of Apr 2020 at 02:00 pm
Honestly no one know what to expect in short term but I think in long term in 1 to 2 yr we are going to have massive inflation and oil will be at 100.00. BTW that contract is is now in pennies.
You want to be in
Posted by steve on 20th of Apr 2020 at 01:38 pm
You want to be in oil when the imbalance has clear signs of improving - the OPEC cuts last week did little to change that dynamic short term. Respect charts and be on the lookout for news that would impact.
" ... when the imbalance
Posted by tahoe on 20th of Apr 2020 at 02:56 pm
" ... when the imbalance has clear signs of improving." there is no certainty in early triggers - an extremely valuable and important comment to make about oil and trading commodities in general. Thanks Steve.
One doesn't need to pick
Posted by steve on 20th of Apr 2020 at 03:00 pm
One doesn't need to pick the exact bottom - those who have tried end up with stinky fingers. On the other hand if you have a support level and wish to take a shot go for it with a tight stop if that's your style
I've been happy short oil
Posted by elementsix on 20th of Apr 2020 at 01:39 pm
I've been happy short oil for the past 2 wks via SCO
You guys better understand supply
Posted by steve on 20th of Apr 2020 at 01:13 pm
You guys better understand supply and demand on oil prior to guessing a bottom. Huge imbalance as I've stated many times. Make sure you have EVIDENCE of a reversal. Huge contango in place currently for those who now how to prosper from it. Buy front month and sell out months but you must be able to STORE IT
well that CZZ is an
Posted by matt on 20th of Apr 2020 at 01:01 pm
well that CZZ is an oil/gas play I posted below. I will note that the general oil stocks have been out outperforming the commodity.
as for as going long oil itself you need some sort of trigger, I really don't see anything yet. Triggers I look for, patterns, divergences, dojis, high volume reversals etc