I grew up in the tar sands of Brooklyn, a little known enclave out in east Flatbush. While on the oil derricks, I’d look out into the ruinous landscape and dream of one day becoming a hot shot stockbroker on Wall Street. Now that I am a professional blogger, shit-poster on Twitter, master and commander of a trading room/software executive, I pine for the days of when I was an oil man. Deep down, I’ve always been an oil man, always will be, ever since the day I was born. When oil was negative 70 dollars per barrel a few months ago, I felt devastated for all of the families out in Brooklyn who were probably resorting to armed robberies instead of horizontal drilling for heavy sour crude — just to feed their families.
I gaze upon the market today and see nothing that I like, except for oil. Being nearly fully invested, I could only afford one pipeline play for now, but will look to acquire more as I pare down some of these positions.
A quick recap: I have done the opposite of what I wanted to do, going all in on large caps, leaving me with only a few active trading positions. I sold one of them this morning, DDD +8.1%.
Thus far, I am tracking the NASDAQ, off by 32bps today; but I am still optimistic for happenings.
US 10yr is +3bps to 0.844% and Ethereum is $414. As you know, I allocate a percentage of my income into ETH each and every month and will continue to do so for the next two years. I view the largest systematic risk to me in my lifetime as THE FUCKING COLLAPSE OF THE DOLLAR, due to everything that is wrong with this country. Ergo, cryptos is a fine hedge against that. You can do gold; but then again — you can’t do shit with gold. It’s not transactional you boomer fucking retards.
If you enjoy the content at iBankCoin, please follow us on Twitter
Crypto is going to drink your milkshake!
Was asking about energy stocks the other day. They look like a decent gamble to me.
boomer af comment
Well I know but I’m liking the looks of shit like HES OXY etc might as well make some money if the boomers are gonna buy
Yes, I saw that.
I think it’s part of a trend going from overvalued Nasdaq “Robinhood” stocks to small cap value stocks that have done nothing or gone down for the last 5-6 years.
XOP, XES etfs are worth a look only because they include some smaller cap oil plays and there have been some mergers going on as well as Bankruptcies.
Time will tell, of course.
Kind of like OII (Oceaneering International) as an individual play. They have recently picked up some Gov’t contracts to diversify.
I forgot to add that I must be a Boomer as I just switched my Medicare Part D plan yesterday.
Thanks old timer
It’s a good thing we live in a glorious new economy where companies don’t need things like “profits”.
https://www.breitbart.com/politics/2020/10/22/biden-insider-tony-bobulinski-provides-trove-documents-senate-investigators/