*** BUY OUR FUCKING SHIT. iBC MERCH STORE IS NOW OPEN, IN REPLACE OF OUR FUCKING ADS — WHICH HAVE BEEN PERMANENTLY REMOVED FROM SITE ***
It’s just one of those things that make you scratch your head in amazement. Oil is down 11% on the June contract and -70% on the meaningless May contract, which is getting a fuck load of exposure in media. Because of this, shorts are piling the fuck in and as a result getting SQUEEZED the fuck out. The XLE is off by just 1% today, but many oil stocks are in fact higher, incredibly so.
I’ve take this mornings trade to reshuffle my positions a bit. I made two successful day trades and now have a bias towards gold and biotech.
Here are my closed out trades for today.
SAGE +12%
(IVR -14%)
PAA +10.4%
TRGP +2.86%
NVAX +6.2%
(LB -9%)
INO +5.6%
PLCE +1.7%
See pal, that’s who I am and you’re nothing. You want to play in this game — you best to fucking win. If not you’re gonna be shining my shoes.
I started out the day with 15 losers and 1 up stock and have since turned shit around. People do not give me enough credit around here, as I conduct acts of fucking MAGIC in broad day light, no sleight of hand — nothing. I have a hankering for winship and god damn it — I’m gonna have it.
UPDATE: THE CME SAID THEY WOULD ALLOW MAY WTI TO TRADE NEGATIVE. THE CONTRACT HIT $1.70, DOWN MORE THAN 90% FOR THE SESSION. IN OTHER NEWS, LEVERAGED UPSIDE OIL STOCKS GUSH IS +4%.
UPDATE: THE MAY CONTRACT IS AT ZERO
UPDATE: The May contract is now NEGATIVE.
UPDATE: JUNE CRUDE -15%
UPDATE: MAY CONTRACT NOW NEGATIVE $13.9
UPDATE: NOW -$33
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Consider yourself praised, goddamnit, Master Fly.
Enviable work.
Tesla giving no fucks about oil prices.
My EV only cares about KWH (I have an L2 charger in garage) and not getting iced at an ev parking space ( in which case I call the police).
On Friday oil was down big but most oil stocks were up 10%+.
A sign or a fake out?
“People do not give me enough credit”
Perhaps you could visualize a nodding Mike Pence standing behind you and to your right.
Mike Pence’s signature “Mona Lisa smile” is very underrated and ought to be used more often in people’s memes.
Mike Pence is the perfect guy to say,
“I’m sorry we opened up the economy and 100,000 Americans died.
Who-coulda-known?”
I don’t know much about oil but isn’t it likely that the June contract will be trading in single digits a month from now and if so, doesn’t that make a good short?
Remember, I don’t know much about oil so go easy on me motherfuckers.
This time every one is being bailed out. Except if you’re black and poor, obviously.
TALF has been expanded to include every fucking peice of shit business. This isn’t helicopter ben this is don the con bomber free money for everybody (except darker ones obviously…). enjoy while it last.
Nothing will be allowed to go down until election day. Every trumpian enabler is hard at work to achieve this goal.
There once was a fag named the Fly
He had a kinky fetish involving a black guy
He sucked and blew
Until out erupted sticky goo
And now has AIDS and will soon go bye bye
I’m so sick of hearing idiots says that the PPP is workign becuase it is giving out loans so fast: it really isn’t that ahrd to find business willing to take forgiveabel laons. The metric for success is how many jobs and small busienss will get saved, and we won’t know that answer for at least several months
Are the Democrats and Republicnas goign to fix PPP? It’s so easy: just put a cap of $100-300k on the loans, and that ensures that the money goes to the samllests business, the ones that need te help the most.
Instead, hedge funds Shake Shack, Havard U, and who know how many get loans that would fund 10-50 times as many need samll buisnesses. The pessimist in me thinks that this is workign as intended, but we’ll see if they cahnge the language when they refill it.
Does the barrel come with the oil bc I would pay $1 for a good barrel I think
Good point
No you supply the containers. Straight from mother Gaia’s tit.
putting in a short on CMG. Only trading 10% off of highs and is 75% off of its lows. I think there is a lot working against Chipotle that doesn’t match the narrative that Wallstreet and Cramer are pushing. Some items below.
– Their locations are pretty much a hotspot map of Covid-19. Unlike a lot of fast food places CMG is almost exclusively located around large cities and especially in downtown areas.
-Work from home is happening on a percentage basis much more in large cities where corporations are able to do a lot of tech and finance business via WFH and all indications are that WFH will be encouraged for companies if possible far after states try to get other businesses to open and these companies are more likely to support and continue these WFH policies. This will disproportionately hurt Chipotle compared to other fast food.
– No real drive through option. They have pickup but it’s not the same.
– They are sacrificing a lot of margin by giving free delivery via delivery apps since they are still getting a cut.
– As admirable as it is, their commitment to their staff will have big impacts on profits.
– Big cities will be the last to get back to normal and that is where over 80% of their locations are.
– If their is aid for the restaurant industry they are less likely to get any because they are still able to keep some business going.
– consumer impact is real. broke ass people pack their lunch and don’t buy $13 burritos.
– All this at the bargain price of a PE of 66
– and their food sucks
Their food is good, but your knowledge of corporate accounting sucks.
The only “food” I consider acceptable is their salads.
The tacos/burritos are sub-par. But then most Atlanta neighborhoods have always had authentic Mexican food way before these fake Mexican chains.
I heard they had killer lettuce.
It’s the guac. Lots of guac on the salads.
you know nothing of good, authentic, mexican food you shill. you also do not know GAAP accounting and are clueless about the intracacies concerning the balance sheet, P&L and statement of cash flows.
that post is for numbersgame the douche
Pump before dump, hope you’re right.
While it’s all good fun to look at the -100%+ day in oil, the whole chain is getting murdered out to like 2022.
Also, the faith that Nasdaq companies are somehow immune from smaller companies going bankrupt across American – when said companies are the source of Googles ad revenue from your use of their free products – is not long for this world.
It’s pretty remarkable. Big Tech went down in March, but now the market has turned all the way around to “COVID-19 is good for buisiness”.
“Wall of Worry”? Not in the DAQ.
The quants I know are still sticking with the long NQ short Russell hedge. (I started doing that with them back in Feb and mentioned it several times on here.)
I expect to see a rotation out of tech since the upside from here seems limited compared to some of the beaten down sectors.
You must be a roulette player.
https://www.youtube.com/watch?v=VScSEXRwUqQ
LMAO @ negative oil–I thought my CQG data feed was broken earlier.
Texas is going to have a bonafide depression. Oil boom and bust for shale and tar sands. It is vital to get this economy started back up NOW!
Yeah good luck with that. Here’s where globalization is going to fuck us.
Look at container rates. They’re skyrocketing. Shipping is way down but costs to send good and materials overseas are through the roof.
Why? The cost of sending a container assumes the ship will be full. But if the ships are mostly empty then the cost per container is much higher.
So it’s not enough to remove the restrictions. You need to organize businesses to restart simultaneously to get back the economies of scale we built all this shit around.
But that requires a big leap of faith by businesses that the timing is right and demand will be there.
The debt will double over the next year. I can see a scramble to de-globalize and bring manufacturing back here whatever the cost. Even if it’s mostly automated, we need to make stuff here again and not rely on a global supply chain. Oil revenue dependent countries (Saudi, Brazil, Venezuela etc..) are going to see a lot of civil unrest over the next few months.
Agreud.
It’s not necessarily unwelcome having foreign supply chains. But you need redundancy distributed across multiple countries and you need minimum redundancy of all components at home.
What happened here is the supply sides variant of “picking up pennies in front of steamrollers”. They went looking for the absolute minimum production cost and now we’re getting flattened.
The secret sorcerer inflation is the furthest from peoples minds at the moment.
Nice input on container rates – didn’t realize they had been going up. Why don’t they just dock more ships? It seems to me that 4 ships at 96% capacity is more profitable than 6 at 64%. I guess just-in-time doesn’t work that way.
Maybe Chineses companies can just keep making useless shit and store them on ships, just like the tankers. Becuase we all know that consumer demand will be back to 100% in May when the economy opens up…
They will, and that’s how things will scale back up, eventually. But that’s going to stretch out time between deliveries.
My local tech biz was running on less than 2 weeks of merchandise to sell before the lock down. We could be in this strange middle land where you want to buy, your supplier wants to sell, but there’s no supply on hand and total demand is so weak it’s going to be a few weeks to get everything together. It’s going to suck the wind out of company performance.
Alaska, Texas, *and* North Dakota. COULDN’T HAVE HAPPENED TO NICER FOLKS.
Maybe they can barter their guns for food?
If you have the guns, you just take the food.
Oil has always been boom and bust. Up until shale technology USA embraced and suckled low oil prices. Now it’s time to taste the cycles the industry has always endured.
Lots of damage has been caused by government …lots of draconian measures taken. But our leaders have not simply SUGGESTED that every business ..grocery, drug store …or whatever …REQUIRE that both employees and customers cover their fat faces so that their exhalation stays more local to their person.
If the macho (can’t see myself wearing one) orange guy would tell Fox nation that you are not macho when you don’t wear a mask …and instead, suggest wearing one; store owners and others business owners would have cover to require masks be worn. We could then get more folks back to work.
Nibbled on a few airliners for the long term account.
Just buy Boeing.
Looks as if I did sell my 30yr early.
Qs bottomed on March 23 and rallied for 4 weeks. 30ys gave no shits: interest rates have slowly drifted lower. That’s not saying “inflation” or “V-shaped recovery”.
How low does it have to go to where gas is free?
another pussy liberal thinking they deserve free stuff
The EPA better be keeping a close eye on every tanker truck that gets anywhere near the Red River.
1st prize is a Cadillac El Dorado. Anyone want to see second prize? Second prize is a set of steak knives.