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Way too soon. Let's talk in a year.
No doubt. But when I called my shot for end of April I made no mention of the future.
That said, I'm going to stay long now. Won't be touching my position for the rest of the year.
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Way too soon. Let's talk in a year.
No doubt. But when I called my shot for end of April I made no mention of the future.
That said, I'm going to stay long now. Won't be touching my position for the rest of the year.
It was a good call for the near term - and who knows, it might have been the real bottom.
There's so much money looking for a place to go, that's why a handful of stocks are driving this rally. Apart from the continuing oil mess, I'm thinking the next challenge for the market will come from bankruptcies beyond the oil patch. I think travel/leisure as well as retail and retail leasing are really struggling - the weak ones aren't going to make it through.
It was a good call for the near term - and who knows, it might have been the real bottom.
There's so much money looking for a place to go, that's why a handful of stocks are driving this rally. Apart from the continuing oil mess, I'm thinking the next challenge for the market will come from bankruptcies beyond the oil patch. I think travel/leisure as well as retail and retail leasing are really struggling - the weak ones aren't going to make it through.
Here's the problem with bailing out oil companies. It doesn't allow for oil supply to come down for prices to recover. If they get bailed out we'll basically have to socialize the oil industry.They will get bailed out imo.
ZBRA brah
Crude down below $11 again. It was over $17 at one point today.
The most obvious play in the world is to short the existing oil contract on roll over again. Seriously everyone I talk to is in on it. This sets up one he'll of a short squeeze opportunity for big money. Oil price is basically just a number on paper. Physical oil is pretty much worthless ATM. Read where some countries are paying to pull it out the ground then paying to move it to old salt mines then paying to put it back in the ground. Paper contracts literally expired at negative values and people defaulted on the the delivery. It is literally worthless.As long as it stays in that zone, I don't think it will drive much more broad selling - the next two weeks will be carried (or dropped) by earnings. Then we start getting field data from the easing of restrictions. I think that's what will set the next three weeks . . . unless there's some big development on the vaccine front or some kind of geopolitical event.