well glad to hear you admit it. As for the words I used in that post I just googled technical analysis terminology and threw a few out there.
I’m gonna leave it like it is. It’s actually regained 20k or so in the last 2 weeks while I’ve been dicking around with puts.
Don't know why OXY popped today but I sold much of it at $17.85. It eclipsed $18 so I didn't catch the high but that's ok, it finished the day in the low 15's so I'm going to take a victory lap anyway.
S&P hitting 3,000 next week JPMorgan now sees economy contracting by 40% in second quarter, and unemployment reaching 20% https://www.cnbc.com/2020/04/09/jpm...cent-and-unemployment-reaching-20percent.html
I would try to avoid the tax hit forever and let it generate return on a larger invested sum. ($100,000 @ 6% = $6,000 return versus taxes paid amount of $75,000 @ 6% = $4,500 return) An example strategy could be to put the funds in long term stocks (or fund) with a tangible yield and let its yield pay your debt service for you. Once it pays your loans off, you then are left with the asset. Work hard to minimize your cost of debt on the student loans. Securitize your trust funds if needed. Not sure the exact numbers but this would be a tax strategized (levered) way to grow your wealth faster than what you are suggesting.
its going to be super weird when we have 20% unemployment and the dow doesn't even touch 20k again yanggang shit
I’m gonna go down with the ship betting against this shit show. I just need to space it out longer, not bet that it’s always next week/month. April puts may need to be June. Shit may need to be Jan 21
Thanks. Yeah this is kind of what I had in mind - a mix of paying down the six figure student loan balance (2 law degrees), perhaps getting a loan secured by this tranche of stock or another, and seeing if I can’t find a return to pay most/all of the remaining student loan amount.
Didnt OXY pop early when all oil + O&G companies were up? Then everything went south mid afternoon. Surprised the Fed is not saying damn capacity limitations we will buy oil too. Print more $$$$. On a serious note, as the market gets flooded with cash and support, will that not cause inflation? More cash in the market place with the same or less demand equals inflation and make cash less valuable thus having a negative effect on those out of work or making low wages. It dilutes the savings and buying power of the average consumer. Is the Fed putting us at more risk and danger by not allowing the market to drop and have a correction? Is this Trump leaning on the Fed to blow air into to a balloon and after the election, whether he wins or not, the balloon pops and the economy does to. Someone mentioned kicking the can down the road, Stagger Lee possible, I have to believe what happened yesterday was not only coincidence but a punt and hope.
Global oil output cuts held hostage to standoff Oil producers in the OPEC+ group, led by Saudi Arabia and Russia, were expected to pressure Mexico on Friday to seal an accord for a collective cut in output of 10 million barrels per day, before asking other nations for a further 5 million bpd of cuts. The United States has encouraged global cooperation to bolster an oil market that collapsed as the coronavirus pandemic accelerated in March and producers resorted to a price war after failing to agree on how to prop up prices. Oil prices tumbled on Thursday despite OPEC+ nearing agreement as the lockdowns ordered across the world sucked life out of the global economy, and traders reckoned that even a combined reduction of 15 million bpd would be too little to stabilise the market. Markets were closed for the Good Friday holiday in major centres. But on Thursday, Brent oil prices <LCOc1>, which hit an 18-year low last month, were trading around $32 a barrel, half their level at the end of 2019. Following talks on Thursday, OPEC, Russia and other allies outlined plans to cut output by more than a fifth and said they expected the United States and other producers to join in their effort to bolster prices. In a separate phone call after the meeting, Saudi Arabia's King Salman, U.S. President Donald Trump and Russian President Vladimir Putin reviewed the importance of cooperation between oil producing countries, Saudi state news agency SPA reported. "Desire was confirmed for coordination of actions aimed at the stabilization of the global oil trade situation and the mitigation of the negative impact from volatile oil prices on the global economy," the Kremlin said following the call with other producers. But the group, known as OPEC+, said a final agreement was dependent on Mexico signing up to the pact after it balked at the production cuts it was asked to make. "I hope (Mexico) comes to see the benefit of this agreement not only for Mexico but for the whole world. This whole agreement is hinging on Mexico agreeing to it," Saudi Energy Minister Prince Abdulaziz bin Salman told Reuters by telephone. During the talks, Mexico proposed reducing its oil output by 100,000 barrels per day (bpd) in the next two months, and would reduce output to 1.681 million bpd from 1.781 million bpd reported in March, Energy Minister Rocio Nahle said in a tweet on Thursday. Mexico was being asked to cut by 400,000 bpd. STORAGE NEAR BRIMFUL OPEC+ documents showed the group plans to collectively cut by 10 million bpd in May to June. All members would reduce output by 23%, with Saudi Arabia and Russia each cutting 2.5 million bpd and Iraq cutting over 1 million bpd. Those reductions were based on production levels prevailing earlier though. Saudi Arabia ramped up its output in March after earlier talks to support the oil market failed, and it will now be making a cut of 3.8 million bpd if the accord is reached. Under the plans, OPEC+ would ease cuts to 8 million bpd from July to December and relax them further to 6 million bpd from January 2021 to April 2022, the documents showed. The United States, whose output has surged to surpass Saudi and Russian production, was invited to Thursday's OPEC+ talks but it was unclear if it had joined the video conference. Brazil, Norway and Canada were also invited. Saudi Arabia will expand efforts to support the global oil industry when it hosts an extraordinary meeting by video conference at 1200 GMT on Friday for energy ministers from the Group of 20 major economies. Prince Abdulaziz said he expects that other producers will join in the global effort to reduce oil supply to stabilise oil markets, but said: "They will do it in their own way." Goldman Sachs doubted whether the cuts being discussed would be enough to offset slumping consumption, estimating that the coronavirus would slash demand by 19 million bpd in April-May. Analysts at the U.S. investment bank said: "Such cuts, if agreed upon tomorrow, would still be too little and too late to prevent a decline in prices in coming weeks as storage capacity becomes saturated.
Does it make sense to buy uco now? Obviously it can’t get much lower and as soon as demand comes back in the next couple months I would think it would take a serious jump. Am I dumb?
If you’re long on it and plan to hold for a while, now seems as good a time as any. I wouldn’t try to perfectly time the bottom.
DIS getting back to 150 by Wednesday. https://www.google.com/amp/s/www.fo...t-least-3-months-after-covid-19-subsides/amp/
My wife just got offered a job with a 25% pay raise after one video conference interview during a pandemic
the funny part is she locked the dogs out of the office so they wouldn't screw anything up and she forgot about the cat who decided to jump on the desk and show his butthole to the camera right when she was answering a question
Yes and no. When I woke up (west coast best coast) I noticed OXY way up double digits % wise so I checked on XOM, CVX & BP and they were only up 3-4%. So did all the oil companies go up, yes. Did they go up anywhere close to what OXY did, no.
Goldman Sachs dating we’ve already hit bottom and “near-term downside of 2000 is no longer likely. S&P year-end Target remains 3,000.” +1500 for the Dow I’m sure.
There is no post this morning. That scalp trading class is tomorrow evening and there was info that there will be a special board for those taking that class so not sure if he is getting all that set up. If there is a post today I will copy and paste. there were 4 on Friday, the one I copied and then three posts for trades. all happened before Noon.
I'm working through this PPP shit. Unless your company is organized as a very typical business, It's a complete mess fraught with red tape and ambiguity. No surprise given that career politicians put it together.
Oyo is apparently worthless now. The head of softbanks vision fund personaloh guaranteed a $2b loan the head of oyo took out to buy more shares of his company. So he will be bankrupt soon
So how low do we think this gets? 18k (or lower) from technical analysis or where we're at right now?