Anyone want 42 gallons of oil for $1.50?

"davesaddiction @ opposite-lock.com" (davesaddiction) 04/20/2020 at 13:49 • Filed to: None

1

32

Was $15 twelve hours ago. 

(May contracts)

Ash78, voting early and often > davesaddiction @ opposite-lock.com 04/20/2020 at 13:54

8

OMG WTI BBQ!!

This is painful. I feel like every economic house of cards is crashing down at the same time .

( Except the stock market, for now. I’m starting to think that selling NOW is a good idea while the market still has buyers out there . It’s like being given a “ second chance” to predict COVID. I really believe t he real drop is yet to come, once corporate earnings start putting hard numbers to what it looks like when people stop working and buying)

MasterMario - Keeper of the V8s > Ash78, voting early and often 04/20/2020 at 13:57

2

Yea, the stock market makes no sense right now. There is no way we are at the recovery point yet, nor are we past the worst of it yet.

For Sweden > davesaddiction @ opposite-lock.com 04/20/2020 at 14:03

6

This the worst thing to happen to West Texas since the end of Friday Night Lights

gin-san - shitpost specialist > davesaddiction @ opposite-lock.com 04/20/2020 at 14:04

1

Fuck maybe I should've bought oil instead of that new GPU

davesaddiction @ opposite-lock.com > gin-san - shitpost specialist 04/20/2020 at 14:10

2

You could’ve filled a swimming pool. 

davesaddiction @ opposite-lock.com > Ash78, voting early and often 04/20/2020 at 14:10

1

It’s bonkers. 

E90M3 > davesaddiction @ opposite-lock.com 04/20/2020 at 14:12

2

Holy fuck. 

SBA Thanks You For All The Fish > Ash78, voting early and often 04/20/2020 at 14:13

1

Mark Cuban is famously moving to cash. Warren Buffett took an 80%loss on Delta Airlines to fight his way out of a burning building.

So, yeah, it might be time. While there’s still time. The only reason money is still in the market is “low interest rates”. The only reason muppets are still buying TSLA at $750 a share is “Elon sez...”.

So, let your senses be your guide through The Spirit World, but now seems like an OK time to GTFO.

davesaddiction @ opposite-lock.com > E90M3 04/20/2020 at 14:14

1

Yup. I think you made the right decision to jump ship when you did. I’d be surprised if 5% of your old coworkers are still employed after all this. 

DAWRX - The Herb Strikes Back > Ash78, voting early and often 04/20/2020 at 14:14

1

Hedge funds and corporate investors got caught slippin. It’s being propped up so they yank their money out while it st ill profitable. Once they’re done...we ll, how does that song go? “Ain’t no valley low enough...”

user314 > davesaddiction @ opposite-lock.com 04/20/2020 at 14:15

1

Christ. I can’t get frickin’ gas that cheap....

Future next gen S2000 owner > davesaddiction @ opposite-lock.com 04/20/2020 at 14:16

0

I’d love to buy some right now and sell the future. Just need a few swimming pools........

E90M3 > davesaddiction @ opposite-lock.com 04/20/2020 at 14:17

4

SLB made the decision for me, I’m glad I had the wherewithal to stay away when I got offers in late 2017.

Ash78, voting early and often > SBA Thanks You For All The Fish 04/20/2020 at 14:18

1

While we were chatting, I just sold half of my Apple holdings, as well as half of TJX stores (because being the king of retail doesn’t really matter right now).

It’s hard to part with things that have been winners for so long, but times are strange.

davesaddiction @ opposite-lock.com > user314 04/20/2020 at 14:18

2

No one’s buying beef if their freezers are already full. 

davesaddiction @ opposite-lock.com > Future next gen S2000 owner 04/20/2020 at 14:21

1

And that’s why it’s so low. No one has anywhere to put it. 

Michael > davesaddiction @ opposite-lock.com 04/20/2020 at 14:24

2

You’d be overpaying by $4

Michael > Michael 04/20/2020 at 14:26

2

By four I meant $8.50

user314 > davesaddiction @ opposite-lock.com 04/20/2020 at 14:35

0

true dat

BrianGriffin thinks “reliable” is just a state of mind > davesaddiction @ opposite-lock.com 04/20/2020 at 14:39

2

So...buy $100 worth of oil commodities now? Either lose $100 or profit bigly  in twenty years.

davesaddiction @ opposite-lock.com > Michael 04/20/2020 at 14:41

1

Keep going!

davesaddiction @ opposite-lock.com > BrianGriffin thinks “reliable” is just a state of mind 04/20/2020 at 14:42

2

That’s for May contracts, so doesn’t exactly work like that.

MonkeePuzzle > E90M3 04/20/2020 at 14:44

2

* monkee looks awkwardly at his company *

BrianGriffin thinks “reliable” is just a state of mind > davesaddiction @ opposite-lock.com 04/20/2020 at 14:47

0

Well, I was referring to some type of commodity ETF like USO, but I get your point. 

davesaddiction @ opposite-lock.com > BrianGriffin thinks “reliable” is just a state of mind 04/20/2020 at 14:59

1

Doesn’t look like a bad bet if you’re willing to hold for the long term! 

SBA Thanks You For All The Fish > davesaddiction @ opposite-lock.com 04/20/2020 at 15:01

0

It closed at -$37.00.  Wow.

SBA Thanks You For All The Fish > Ash78, voting early and often 04/20/2020 at 15:10

0

Yeah, not to pile on.. . But I think the analysts are going to freak out tonight when they see what “oil is now worth -$37.00 per barrel” really implies for the economy.

So, I did some more trades right after I posted.  I’m like 85% liquidated now.

davesaddiction @ opposite-lock.com > SBA Thanks You For All The Fish 04/20/2020 at 15:18

1

Yup - one for the record books.

On our group call this morning, our CEO said this was the first time to be shutting in wells because of price in his 45 years in the business. 

davesaddiction @ opposite-lock.com > MonkeePuzzle 04/20/2020 at 15:20

2

Hang in there, man!

Manwich - now Keto-Friendly > davesaddiction @ opposite-lock.com 04/20/2020 at 15:31

1

I’ll take it off your hands if you pay ME $50

And that’s a bargain.

Tomorrow you might have to pay me $100.

SBA Thanks You For All The Fish > davesaddiction @ opposite-lock.com 04/20/2020 at 15:32

1

At least I hope somebody in the Procurement Office in the Pentagon has got raw crude running out of every pore of our Strategic Reserves facilities in Texas and Louisiana...  I think we can take every bit of a billion barrels, so I hope we’re filling the shit out of it.

Manwich - now Keto-Friendly > BrianGriffin thinks “reliable” is just a state of mind 04/20/2020 at 15:33

0

I just dumped GUSH for a small profit because I suspect another commodity stock price crash may be coming because of what’s going on with oil.

Sure the US government might be able to help out some companies.  But to this degree?  I doubt it.