Long oil

probably bottomed in the short term today, could rally for a while but don't get over zealous, you probably sell 50 or 60. the calls for 20 were most likely too early but probably not wrong

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>>1039352
the oil companies are trying to fuck over american fracking by undercutting them until they go bankrupt and hoping fracking dies before they do
you can still survive this but either way someone is going down

>>1039367
>the oil companies
america and europe are the only ones with actual oil companies, and they're the ones eating shit you cunt nugget.

if you're talking about the harold hamm fueled myth that saudi arabia is trying to lower the price of oil to squeeze out competition, don't believe a word. he has vested interest in oil going up and blaming the muslims is a clever way to get americans on board. saudi wants higher oil prices way more than we do, they're government literally depends on it. sure, american production has increased and there is a supply glut, but that wasn't a problem when speculators and china were blindly paying $100/bbl. demand for oil is inelastic so it can be confusing to analyze, but the truth is when the price goes down we saw governments needing to produce more oil, thus the quantity supplied actually INCREASED as price fell over the short run. in came the death spiral.

>>1039352
I'm on exactly the same ship, 1/3 invested in shell.
I'm not selling, how much lower can it go?
Many OPEC countries are running huge budget deficits. If these prices continue, things are going to get ugly there.

mfw a new breakthrough in solar and green production occur, finishing oil off.

Serves you fuckers right.

>>1039404
Tbh senpai if that happens and the world becomes a green, sustainable place I won't be upset at all.
I'm investing to prepare for the worst.

>>1039352
did you at least hedge your position?

>>1040651
Nope. Gonna get BTFO

>>1039352
I've been short oil since I worked as a roughneck a number of winters ago. It's not a normal industry.

>>1040663
i just wish people like you would simply give me your money

>>1039384
Jesus, you are one ignorant idiot.

>>1039386

I have no positions in oil companies, but I'm thinking about it.

The way I see it, is that the prices start climbing back up, when OPEC decides to stop fucking around and reduces their oil production. Timing is everything. You could get major dividends from beaten down smaller oil companies like EVEP or SDRL or shit like that if you buy the stocks right before OPEC starts reducing their production to get the Oil prices up. The OPEC countries have ugly deficits, but how ugly they have to get before OPEC gives in? That's the fucking question.

XOM LONG AND STRONG

>>1040714
It's not a loss until I sell. :^)
Thanks for pushing prices down. Hopefully when dividends are paid I'll get more for my money.

You should switch it out for SU.

>>1040809
I can't cope with that CAPE

>>1039352

Double down.

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>>1039352
>Who /goingdownwiththeship/ here?

I'm going down....~~~~~ ! ~~~~~....

I guess I'm a qualified bag holder of KMI....

We need pipelines, transfer/storage facilities r-right???

MFW average cost is $26

>>1040771
I TOLD U DAWG
I TOLD U

>>1042175
would've had much more effective gains in UWTI mate

>>1039352
>Oil will recover eventually, r-right guys?
It's a finite resource. Demand is only going down in a few select highly modernized countries, and will go up heavily over time in the rest of the world. Wait for long enough and yes, it will recover.

The question is if that's a profitable idea, because you may be stuck waiting for years.

>>1039352 (OP)
>Oil will recover eventually, r-right guys?

Oil is expected to plunge below the $20. A good trader knows when he has to sell eventhough that implies losing money.

Would now be a good time to invest in oil?

About to invest a years worth of savings in Pioneer Natural. Wish me luck senpai

>>1042256
Noooo stop, spread your investment out over several funds on a monthly basis.

Don't gamble away your savings on a single spin of the roulette wheel.

>>1042256
rip, think of me when you fling yourself off that building

>>1042243
Some are predicting $10. You have to know when to cut your losses.

>>1039352
Thinking of investing in oil. What if I put N amount in now when its $30 barrel. How much would I make if it went back to $50 a barrel?

>>1042736
Are you buying oil futures, producers, service companies, or related companies?

>>1042740
lets do WTI Crude Oil

>>1042755
(5N/3) - trading costs

I bought in recently. Hasn't hit bottom yet but I am in it for the long run and she'll climb over 50 once more. Will be payed dividends in the meantime.

>kek not getting payed divies

I work in the oilfield and 75%of my investments are midstream oil and drilling companies...fuck it I either win big when it turns back around or go down in a blaze

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covered puts on SDRL. Hurts so good.

How I see it :
Scenario 1
>oil never goes up again
>investments crumble
>doesn't matter because cost of living has collapsed

Scenario 2:
>oil goes up
>MAD GAINS

win win here

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>>1043015
I am pretty heavy in ETP, KMI, and NAT.

>I'm fucked

your not fucked totally yet. sell on the rallys and start buying into renewables and top tier shit like amazon google and short defense. like Raytheon and the such. they will be feeling the Bern shortly.

>>1044077
how is scenario 1 a win?