I will not suffer another disappointing year because of the intransigence of the oil market. If you fools want to fling your money at oil as manufacturing disappoints and demand falls, all because of a little Egyptian Suez’ concern, by all means, lose your shirts.
You’re not taking me down with you.
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I did too. But tried again today with a small July put.Can you say BB crash trade.
Oh on USO.
Limit your losses and let your
winners run.
Right now, 65% of bank is riding on
$SCO. I will continue to average down as oil goes up. I don’t give a rats ass about the noise or even short term charts. Been there did that on oil. Anyone that’s shorted oil over $100bbl in the past & held, made out nicely “hand raised”. I welcome higher oil prices as others fold like two dollar bills on the short side. Buying and Holding SCO.
I don’t disagree. But I’ve done this enough times over the past two years to be exhausted by it.
Oil is manipulated commodity and
you have no idea who is
pulling the strings.The only play
is momentum and thats working against your positions now.
Nope, its not working against my position when I fully support higher oil prices. Its supports my position of averaging down on SCO. I don’t give a rats ass about the momentum trade. Evertime oil gets pumped up like this I’ve heard the same old bull shit & capitalized off it. Watch & learn.
I agree with you, but will you be able to withstand a run back to the $140’s? It’s easy to say ‘yes’ now, but different as you watch the account balance evaporate to nothing.
The answer would be yes. Even when oil hits those high levels what happen? The shorts that held made
major bank. I can go 100% in SCO and sit on my hands for the next
12 months if needed. After that, I would need to get a job. That would suck but I would continue to hold SCO. I do hope oil stops around $110bbl. That’s where I plan to make my last buy on SCO if it prints.