Who here making a fortune off oil stocks today?
Nobody. /biz/ is full of paper traders and kids putting their $50 birthday money into cryptocoin.
>>1121887
I decided to short oil some time ago, so not me.
I want to but can't decide on a position to take. The market is flooded, but prices aren't dropping.
I made 500 bucks the past week on oil.
Feels good man.
>>1121901
This is exactly why my frustrations are high. Flooded markets, shit news, yet ricing prices. wut
>>1122326
i assumed it was just rallying with the general stock market so I will wait and hope it goes down
im poor so i only have a small amount in an oil etf and a shipping company right now
>tfw SDRL and MRO
still have a little further to go for my average purchase price, but I know it's the best long term investment I'll ever make. Will continue to dump more money in until oil hits $50. Then it's easy street the rest of my live-long days, gents!
>>1121890
Cryptocoin shit is bad but I think the people interested in the market on /biz/ are just trying to learn it so they can make some money. This is the only finance community I've been in where people like you try to discourage people. Shits pretty sad actually. Especially since you aren't contributing anything besides bitching.
>>1122360
tell it like it is!
>>1122326
>>1121901
You might want to wait cause i doubt this is the true bottom. There's been some good news this week for U.S. oil and energy as a whole:
>Marathon Oil (MRO) got the ok to issue more shares
>Noble Corp (NE) announced they had been buying back nearterm debt
>ExxonMobil (XOM) exported the first shipment of WTI to leave the states since the export ban
>Cheniere (LNG) exported the first shipment of LNG from the lower 48
>Peabody Energy (BTU) appears to have retained the ability to self-bond their reclamation costs
>WTI popped above $35 today and closed in the green
>Aubrey McClendon died
Only joking a bit about the last one. I think all this news created a minisqueeze that left shorts rushing to cover with no one willing to sell. Tomorrow I would expect to see an early run up as new money enters to make a quick buck on the long side. And then a sell back down as longs who bought during the last leg down take Friday profit. I know I didnt sell anything today. Did you guys?
chipped in on noble corp @ 8,20. feels good man. hope theres a steady rise back to 50-60ish
>>1122814
Noble is so fucking awesome. They're still paying like a 7% dividend. I own my shares at $12.50 Im fucking jelly of you
>Missed that opportunity.
>justkillmenow.png
I'm in dwti at $230 just hoping to God the rig reports are good soon
I'm not but I should be. My stock of choice was trading at $8, issued 145 million shares which is a roughly 20% share dilution @ $7.65, I sell at $8.65 expecting a drop, 20% rise in stock price over two days and it's at $10.40 premarket today.
Hoping the underwriters are pumping it so I can buy it back at $6 per makes absolutely no sense.
>>1122326
This kind of shit has been winding me up no end. Earlier in the week I had a leveraged short position on the FTSE while a whole load of economic news was coming out. The short-term cycle looked to have peaked, markets had gone down the night before in the US and Asia, the reports came in negative across the board, large companies were announcing disappointing earnings... Everything that you might think would drag the market down.
It still went up, the motherfucker.
>>1123615
MRO?
>>1122347
Still keking all the way to the bank bros
>>1123652
Yeah. I;m betting it's a bull trap and coming back down to around $6 - there's no other explanation.
>>1123731
No I think Credit Suisse confirmed there $20 price target. The point of the delusion being good is they think its enough to survive the glut. This could seriously be the bottom for stock prices. I bought in July/August of last year and Im almost back to my purchase price at $45 oil.
I sold MRO at $7.50 like an idiot though. Cant win em all
Held 10k shares of CHK for almost 2 weeks, sold for 30k profit today
