> ""Sell everything except high quality bonds. This is about return of capital, not return on capital. In a crowded hall, exit doors are small," it said in a client note. [...] Brent oil prices will continue to slide after breaking through a key technical level at $US34.40, with a "bear flag" and "Fibonacci" signals pointing to a floor of $US16."
So guys is it a good idea to buy crude oil now that it is hitting record low prices because of overproduction, and wait one or two years when the OPEC members force the middle east to stop production and drive demand and prices up?
planning on buying some hundreds of barrels this years at an average price of let's say U$20, and waiting for the stabilisation promoted by the OPEC of the production in the middle east. The historic average price of the barrel is U$70-80. That would be some 400% profit.
So is it a good idea?
fib levels have a thought behind them that you need to realize first. take this maxim: profits will be maximized will losses will be minimized.
max profit = number of participants in + their trading capital + their margin
>tfw started working in 2013 and nearly all my money is in stocks because my mom and other family members told me "you're young, don't keep money in the bank because muh interest rates"
>this shit happens and now my boozing, gambling dad calls me daily to make fun of me for investing in stocks its "muh gamblng" though he's dumped tens of thousands of dollars into video poker and the lotto
God damn my family.
SELL SELL SELL SELL SELL SELL
>Scammers who shorted the market and are trying to induce a panic.
>Bull who is losing his shirt and is quietly trying to reassure himself.
I agree they are scammers, but it makes no sense to go long right now. After this quarter, maybe. This downtrend is going to hurt anyone who goes long right now.
Just don't touch fixed income like the Rancid British Scum is suggesting.
ive nver thought about having an emergency stash of currency, but since savings interest rates are less than finding a quarter on the street per month, is there any reason i shouldnt hold ~3k in cash at my house?
obviously id withdraw several hundred a week or so, and deposit it in similar increments when i feel like it.
It's the other way round though. Convert more to cash sure, but if you're holding blue chip tier or anything else really solid, just double down at the lower price. That's how you ride a bear to victory.