The Miracle Tank

[Fin]

I saw a friend reach out to one of her friends in the oil business on Facebook. I found what he said interesting. So just pasting it here, FWIW.

“The "spot" price is under $3. That is for a delivery contract that expires tomorrow. The next month contract, for delivery May 19, is now at $22.23. Nobody wants delivery tomorrow. There is no place to put it. Storage is near full and demand has cratered. So, while the less than $3 print looks horrible, it's really not that bad. Although, even $22.23 is a very low price!

Negative pricing indicates the oil producer may not want to shut in production for fear of damaging the geology of the well(s). But the produced oil has nowhere to go... so they may have to pay someone to take it. This would primarily happen to lower grades of crude.”

 

[brett_schn]

I saw a friend reach out to one of her friends in the oil business on Facebook. I found what he said interesting. So just pasting it here, FWIW.

“The "spot" price is under $3. That is for a delivery contract that expires tomorrow. The next month contract, for delivery May 19, is now at $22.23. Nobody wants delivery tomorrow. There is no place to put it. Storage is near full and demand has cratered. So, while the less than $3 print looks horrible, it's really not that bad. Although, even $22.23 is a very low price!

Negative pricing indicates the oil producer may not want to shut in production for fear of damaging the geology of the well(s). But the produced oil has nowhere to go... so they may have to pay someone to take it. This would primarily happen to lower grades of crude.”

I have tons of storage. Right now my buddy has an empty hanger that we could use probably could fit atleast a thousand barrels. way more if we can stack them

 

[fishguy242]

POP.. hope all are well,have a goodnight all ,goin fishing,and yes i will have a FIRE..:p @Dolelo96 :)

 

[Lowell Lemon]

Well it’s perfect for me. I have some money laying around. So I just opened my first stock account. My dad and I are trying to figure out how to get crude oil

Hey just let your dad trade for you. You trust him right? I would like some Boeing stock cause it is half price right now. It would be a long term play though. Perfect for a 16 year old pilot ;Happy

 

[Katrina71]

Stock in diapers. Should be a booming business in about 7-8 months.

 

[Fin]

Stock in diapers. Should be a booming business in about 7-8 months.

Always thinking outside the box. :P

 

[fishguy242]

snagged 9000 there.. :cool: 10000 next....:)

 

[Alan_J_MN]

snagged 9000 there.. :cool: 10000 next....:)

Ummm... @Katrina71 got it ;)

 

[fishguy242]

Ummm ...yeah.......... :cool:

 

[Katrina71]

I feel terrible now. I wasn't trying to snag 9000. I don't look at those numbers. I'm so sorry.

 

[fishguy242]

I feel terrible now. I wasn't trying to snag 9000. I don't look at those numbers. I'm so sorry.

UH HUH ,, i seem to remember a baiting incident that backfired :p MRS..5000...LM BUTT O

 

[brett_schn]

Hey just let your dad trade for you. You trust him right? I would like some Boeing stock cause it is half price right now. It would be a long term play though. Perfect for a 16 year old pilot ;Happy

I’m an airbus guy.
my dad has invested for me. He does it longterm though.He wants to learn day trading with me so I figured how to start an account that’s in both of our names. He doesn’t have the time to focus on day trading.

As for long term investing I have learned a ton over the past few years and I’ve made some huge decisions based on strategies I’ve learned for long term that have played out to be successful

 

[fishguy242]

I’m an airbus guy.
my dad has invested for me. He does it longterm though.He wants to learn day trading with me so I figured how to start an account that’s in both of our names. He doesn’t have the time to focus on day trading.

As for long term investing I have learned a ton over the past few years and I’ve made some huge decisions based on strategies I’ve learned for long term that have played out to be successful

major cruise lines.... they will bounce back eventually

 

[Katrina71]

I'm currently investing in groceries. Being eaten non-stop by a 12 year old.

 

[brett_schn]

major cruise lines.... they will bounce back eventually

Yeah. I’m trying to get into a small day by day trades. I’m going to put a couple hundred into spirit and another company that has made a lot of money for people Ik

 

[fishguy242]

HOLY CRAP.. SELL THE GOLD...just looked 1679.oo per oz

thats 400.oo more than jan feb!!!!

 

[brett_schn]

HOLY CRAP.. SELL THE GOLD...just looked 1679.oo per oz

thats 400.oo more than jan feb!!!!

Yeah gold is insane right now. I’ve been watching that today

 

[fishguy242]

all honesty anyone watching /listening to willie nelson live bday party?;)
keeping me from leaving til later!! .....lol

 

[NY_Caveman]

major cruise lines.... they will bounce back eventually

I bought tons of Royal Caribbean (RCL) for $12 in 2009. It was a recession and then Carnival has some bad news. Sold most of it at $100 years later and now looking to add handily to my remaining shares in the teens. I also own a fair amount of gold I have held for years. The market was so toppy, my accounts were about half in cash before this pandemic. Total luck. Also looking at some smaller casino stocks like BYD.

EDIT: full disclosure, I own some RCL, GLD and BYD

 

[fishguy242]

could kick myself sold lots of gold in 95 WOW ITS 325.oo ...dummy.. ;)

edit.. dumb donkey,i tried..lol