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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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17934911 No.17934911 [Reply] [Original]

<20

>> No.17935355

>>17934911
It's literally 22.84 right now bud

>> No.17935387

>>17934911
Fuck russia, fuck sandjews

>> No.17935410

So how do we profit from this

>> No.17936134
File: 439 KB, 492x503, 1584503490974.png [View same] [iqdb] [saucenao] [google]
17936134

>>17934911

Why doesn't Trump pull troops out of Saudi Arabia who are literally guarding Saudi oil wells whose production is putting millions of Americans out of work?

Trump really is a puppet of the Jews, isn't he?

>> No.17936230

>>17935410
Increase demand. Write your senator to demand all new cars come with a pushrod V8.

>> No.17936652
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17936652

>overnight fee is 2$
>Weekend is 10$
There's no point in longing this shit

>> No.17936679

>>17936652
wtf where is this?

>> No.17936702

>>17936230
kek

>> No.17936754

>>17936134
The troops in SA are there because it's out of Iran's strike distance. It's a SHTF base with fighters ready to strike should anything happen to AUAB in Qatar.

Someone explain this UTW to me. I still don't understand how I can get fucked if it reverse splits.

>> No.17936793

>>17936754
I don’t understand it but I put in 200 bucks at .22–if it tanks, fine, it’s 200 bucks. Still, seems a solid opportunity to make some cash

>> No.17936869
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17936869

>>17936679
you'd laugh at me if I told you

>> No.17937217

Yesterday's $20.50 could be the bottom. COULD.

It wouldn't be so far away from the inflation adjusted ALL TIME low from 1998, which is $18.50

>> No.17937241

>>17934911

https://www.youtube.com/watch?v=ACHVwA1D8fE

>> No.17937503

>>17934911
This is very bad this is worse than a real estate bubble. Banks can default on oil being this low.

>> No.17937554

UTW hit .21 today that's fucking nuts. Might grab a few thousand when it inevitably goes to .15 and just hold it for a few months

>> No.17937655

>>17937554
It will reverse split soon probably

>> No.17937689

>>17937554
Funny thing is the inverse and utw are going down today. Shit makes little sense.

>> No.17937732

>>17936134
Saudi Arabia is doing exactly what u.s. wants. Cheap gas

>> No.17937762

>>17937732
This isn’t the 70s anymore. The us canada norway dont need or want oil that cheap

>> No.17937866

>>17934911
it's rebounding

>> No.17938156

>finally broke even on my UWT investment I made yesterday.
Wahoo! Holding these bags forever!

>> No.17939296

>>17938156
leveraged ETFs are not meant for long term holding. good luck.

>> No.17939367

>>17939296
Why not?

>> No.17939519

>>17939367
ETFs are for day trading anon. do not hold that shit too long. also, they are referred to as a decaying asset or some such thing for some reason.
you can make good money on ETFs but remember they are absolutely not a long term investment vehicle, period.

>> No.17939557

Why is my gas station at $4.12 per gallon in California

>> No.17939602

>>17939367
decay. https://www.investopedia.com/articles/investing/121515/why-3x-etfs-are-riskier-you-think.asp

if you want to long oil, buy a normal ETF whose holdings are just comprised of futures contracts or treasury bills/notes (like USO) or instead a well capitalized oil company with enough cash to ride out this storm. If you want a riskier long investment then buy OTM calls on the asset.

3x ETFs are meant to play week to week MAX movements.

any GUSHfags (which track 3x on E&P companies) or UWTfags need to sell their holdings to some other retard ASAP. You cannot look at a 3x ETF's all time stock chart and say "BRO LOOK HOW HIGH IT WAS, NO WAY IT CAN STAY <$1!!!" like you might with an actual stock. Read the article.

>> No.17939619

>>17936793
> 200 bucks
> Profit

Even transaction-costs are more than you Profit.

>> No.17939698

>>17939602
Okay, good to know. Thanks for the info

>> No.17939887

>>17939557
Because you live in a corrupt shithole with sky high taxes.

>> No.17939953

>>17939602
>well capitalized oil company with enough cash to ride out this storm
Exxon, Shell, BP?

>> No.17940024

>>17939953
How about aramco? Lol

>> No.17940136

>>17939953
Exxon and Shell should be safe bets

>> No.17940299

>>17937866
dead cat

>> No.17941472

UWT has like the highest trading volume. why tf are people messing with UWT right now

>> No.17941507
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17941507

>>17934911
inb4 negative oil prices
screencap this

>> No.17941851

>>17941507
Is it possible for a commodity to have negative prices? Doesn’t seem likely

>> No.17941856

>>17937655
That should be fine. Is a leveraged reverse split somehow bad? All it does with stocks is consolidate and redistribute shares.

>> No.17942043

>>17941851
when stocks are full, there is no demand, and producting cannot be stopped (oil)

>> No.17942124

>>17942043
>cannot be stopped
What would happen if employees don’t show up? I mean production will stop eventually If they go bankrupt and no one is there to man the drill, does it just blow up and continues spewing oil? Then there’s storage capacity you can only store so much. Production has to stop eventually if it came down to it

>> No.17942127

>>17939602
New at this. Thank you for sharing this.

>> No.17942168

>>17942043
they just shut off the pumps.

>> No.17942241

>>17939953
Those are my current oil long term holds, for what it's worth. The 3x ETFs seem to risky for me right now. We could go up, down, or crab on the short term. Not a good feel for using leverage.

>> No.17942267

>>17939602
Thats what is generally advised but you CAN long a leveraged etf and make a shit load of money. These are not normal circumstances for oil. Two highly unusual events have coincided to decimate the price of oil and an etf is a good way to ride a quick surge back up over a few months. It is stupid to think youre going to hold it for years though.

>> No.17942286

>>17942168
dont know what happens then tbq

>> No.17942570

>>17942168
I think what he means is that isn’t doable the oil comes out because there’s built pressure there pushing it out, if you “cap” it that pressure has to come out somewhere, it may destroy the well rendering it unusable for the future

>> No.17942634

>>17942570
they call them pump jacks for a reason.
the oil is literally pumped out of the ground. when they want to stop pumping, its like turning of a faucet. you just turn off the pump

>> No.17942703

>>17942634
Not all wells are like that

>> No.17942842
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17942842

https://www.youtube.com/watch?v=RTTc5aT_ChM

>> No.17943052

>>17942703
As far as I know, ALL modern commercial wells have blowout preventer valves. You'd have to be completely insane to not install one, especially in a high pressure well. Closing the valve doesn't hurt the well.
There's a lot about oil production that's hard to stop though:
>Human workers
Gotta lay them off and re-hire later. It's an inefficient rigmarole. Highly skilled workers (there are tons of them!) might just be held on payroll until things pick back up.
>Machinery
Refineries take a while to start up and shut down because it's massive machinery running at high temperatures. Wells, trucks and ships will just be sitting around, rusting away while not producing any value.

I can easily see oil going to "negative value", but not in price per barrel. It will appear that way for companies as the small amount they're producing can't pay for the idle workers and infrastructure. They're selling at a loss. If enough companies end up this way then the price per barrel would average "negative", but that doesn't mean someone will pay you to take their oil.

>> No.17943066
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17943066

was yesterday bottom? will oil rise now?

>> No.17943086

>>17942267
Yeah I made a shitload of money today so I’m going to hold for at least a week and see where it goes

>> No.17943087

>>17935387
Lol sandjews, Imma use that now for the Saudi family

>> No.17943151

>>17943086
I think its going down more buddy. I sold at 30 today. This is all a trap dead cat bounce. Literally nothing has resolved yet

>> No.17943220

>>17943151
Hmm ok, I’ll sell by eod and see how market goes tomorrow. Worst case I buy in a bit later

>> No.17943326

>>17937503
What's the commodity market volume of Oil?

>> No.17943496
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17943496

Is there a crypto token that is tied to the oil price? I'd like to buy the dip now, but I only have money on binance.

>> No.17943519

sold my oil gains and put them in sqqq. i think we will see 21 again at the very least

>> No.17943528

>>17943496
https://en.wikipedia.org/wiki/Petro_(cryptocurrency)

>> No.17943529

>>17936869
No seriously who is this broker lmao

>> No.17943606
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17943606

>>17943528
>Development Original author(s)
>Government of Venezuela
>Government of Russia

Ummm, that must be the least trusted entity in our galaxy.

>> No.17943677

What the fuck was that

>> No.17943709

holy fuck im so sad i sold my uwt actually. +10% in like 5 minutes

>> No.17944224

>>17937762
Doesnt matter cheap oil is good for everyone

>> No.17944448

>>17943151
Ugh opened a short at $24, RIP. Have funds so I will top it up if we go higher

>> No.17945205

it's moments like these i'm glad im not russian. not that i'd be glad to be russian in any century.

>> No.17945769

Sold at .33 bought at .22, feelin good. Try again tomorrow maybe