From what I could gather, poor Prince Alwaleed bin Talal, a man of supreme style and distinction, has been detained at the Ritz Carlton conference room and is either sleeping on a plebeian cot or the floor, under armed guard.
Dare I say we need to free his majesty immediately?
FREE PRINCE ALWALEED BIN TALAL GOD DAMN IT pic.twitter.com/pBlDRTgGht
— The_Real_Fly (@The_Real_Fly) November 8, 2017
In other news, I’ve decided that I truly hate oil. I do not hate it as much as I hate bitcoins — but unlike with bitcoins, I am able to do something about my hatred with oil. I purchased the ticking time bomb known as DRIP — 3x inverse oil and gas.
Also, I took profits on BITA. I bought it the other day and booked a 5% gain. Not bad for a few days of lying around and looking at the screen.
My bearish positions are long UVXY, short NVDA, short BAC and now long DRIP. What a lovely portfolio.
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Solid trade – I stay away from those fucking trip levereds after this year. I picked up like $300k worth of UWT with oil at $49 and after an up down up, with oil at $52 my position was underwater. Fucking cancer, those are.
That’s many colors of bold
This business is not for the weak of heart.
Levered ETFs almost always have derivatives (options, futures, etc.) as their underlying assets. This means that they always bleed value over time, so they should only be used as trading vehicles, not long term investments.
If you are going for a long-term levered play in oil, just pick up some ITM USO puts and sell some OTM ones so that you have a neutral or net positive Theta position (ie, your investment will increase in value if oil prices stay steady).
Crude is this low only because nobody really knows the true level of SA oil fields depletion. The Arabs are renowned liars. Well, still not as good and skillful deceivers as some others in their north-west direction.
https://tinyurl.com/yd3ktam6
Why short $NVDA ahead of earnings?
News about depleted reserves will be the very last thing that is publicized. Plus and more important oil prices must remain low else goodbye growth hello recession. An oil price shock now is the devil dealing to central banks. Perhaps a war would compensate should that ocurr simultaneous.