/biz/ - Business & Finance

>>18604383
IN

>>18604383
Oh no Anon, oh no.
Do you think the supply glut will go away next month? The month after that? Even if all lockdown orders are lifted?

>>18604383
nah my asshole already got devastated thanks to USO. I'm gonna give oil a wide berth for a while

>>18604551
>next month
>month after that

Im in it for the long

>>18604551
Bro it cannot get worse than WTI -40 a barrel. I believe the bottom is in. Sure things will get choppy through the next two months. But if you are LONG you should stand to make very good profits. Just dont pick penny stock shale companies that are on the verge of bankruptcy

>>18604723
>it can't get worse
>oil will never be negative

Get in soon plebs, rocket thrusters are starting

>>18604383

>>18604766
are you under 18? Because I can tell you are either very stupid or very naive

>>18604383
*sits back, smiles and watches as the company goes bankrupt*
You never learn do you /biz/?

>>18604824
But MRO has one of the best balance sheets of all its competition. The CEO of MRO told the Texas Railroad commission that he was NOT in favor of colluding to cut production. He went further to say that MRO is very well positioned to ride out the storm and unprepared companies should not be bailed out. But you wouldn't know any of that because you're a fucking moron shill.

>>18604887
I know all of that Anon. But the thing is, look at their debts too. Look at it all as a big picture. None of them are gonna survive.

>>18605015
You didn't look at MRO debts. You would know that they are not heavily in debt and they have billions in reserves

>>18606243
I would? I know that about Apple. I certainly do not know that about MRO... look deeper

>>18604383
sweet just bought 500 puts

>>18606378
Smartest play.

>>18604383
Is that easy to buy those?

>>18606243
This
Going all in MRO

a stock market just flew over my house

>>18606243
shill

>>18604766

It won't. Oil is determined by a cartel of major producers, many of which NEED oil to be profitable in order to even survive as a nation (like Saudi Arabia). They will severely neuter production before they let it stay anywhere near negative. This dump into negative territory was more an artifact of the way futures operate than a realistic projection, it's already stabilized back at $8-10.

This feels like a sign from God OP. I was going to go with MRO or USL calls tomorrow.

>>18604581
>buying oil etfs

>>18606243
lol companies like Microsoft, Google, and Apple do.

CVX, PSX, TOT, COP, EPD, MMP. Buy these and I'll see you on the moon.

>>18604383
Kek I'm going to get filthy rich off this

>>18604383
>This is the bottom
Q1 earning reports haven't hit yet, you actually believe this is the bottom?

Gonna do some long calls, and some more research.

>>18608669
Bottom was 23 march. Deal with it triplenigger

>>18608669
mro $20 eoy. enjoy being poor!

>>18608736
In a couple months I will sell all 5000 shares and come laugh at you fags

>>18608763
No u won't

>>18604766
does it matter?do you think oil will be negative forever? ITS OVER FOR OIL right? this is guaranteed money, dont matter if you have to wait years. this shit will go up with 100% certainty

>>18604383
This has been on a dump for 12 fuckin years, why on earth would this moon now?

>>18608669
>Q1 earning reports haven't hit yet
possibly the lowest IQ response that gets said 100x a day on /biz/, sad

>>18608856
no one thinks its going to 100/share. 12 is reasonable if oil bounces back to normal. wa la. 200% increase

GOING TO UNPRECEDENTED HEIGHTS.....TO DA MOON!!!!

>>18608924
why would this be a better buy than USO?

>>18607731
This is the sort of thinking that had me drop $10k into UCO last week. They clearly have all shot themselves in the foot and if its happened once it will happen again.

>>18604383
So if the price of crude oil is negative, why the fuck are they still drilling? I get that there's costs involved with stoping production, but they're literally paying people to take oil from them.

>>18604581
>i bought high and sold low and now Im scared

>>18608950
Post your shares pussy

>>18608965
USO was kind of stagnant to begin with and might take two or three years to climb back to over 10 bucks a share

They know something we don’t. The insiders know. They are accumulating. I’m going to do the same.

>>18609445
Who is accumulating what?

I bought whiting

>>18609028
No storage. They're contracting removal because it would cost more money to source the construction of storage volumes adequate for that much oil.

Stopping shale means capping wells, means re-drilling when prices return to profitability. With the giveaway they moved a shitload of oil and normalized prices (temporarily) in doing so.

>>18607731
>Oil is determined by a cartel of major producers
Correct.
>many of which NEED oil to be profitable in order to even survive as a nation (like Saudi Arabia)
Correct.
>They will severely neuter production before they let it stay anywhere near negative
Incorrect.
>This dump into negative territory was more an artifact of the way futures operate than a realistic projection
Only partially
>it's already stabilized back at $8-10
No it hasn't

You have some understanding of oil. Just enough to be hazardous. Please do more research before you JUST your portfolio.

>>18609599
MRO Stock

>>18608669
Priced in back in March. You’re living in the past

>>18608297
look asshole Marathon has just as much money saved up as Google or Apple and provides a real resource people use not some browser or latest gadget

>>18604887
>>18609445
Ceo has been buying up stock ever since its all time lows

>>18608669
Those reports are priced in, everyone already fucking knows the reports will be shit. There's not a single buyer thinking "earnings gonna look real nice!!"

>>18609793
>haha incorrect
>doesn't explain why
You're the worst kind of idiot, think you know everything but too scared to explain because it would out you as a moron.

Pfft got sum shares weeks ago when it was $3.60

Post your positions or your a bunch of faggots and have no reason to keep posting in this thread.

I haven't decided if i want to jump in but it's looking like a 50/50 gamble.

>>18610828
Not a gamble mate. You’re missing out

On March 27th price dipped into 3 fitty range. Ya missed the bottom ya quadniggers.

>>18610115
i wouldnt of even responded to him, we both did our research we bought some of this marathon for cheap

>>18609079
Brilliant.

>>18610884
Some of us were a little late to the party

>>18610828
If you look at the charts i have posted above you can see its good.

Theyre not the best. But they will be able to survive and come on top of this. It also helps they handle their money and assets quite well. Something some of the smaller fish in energy dont have.

Youre sort of dumb if you dont buy XOM, Chevron and MRO when theyre cheap.

On top of that, the president basically said clear as day to the oil guys that energy independence is one of his biggest issues and wont let domestic oil fail.

>>18610856

Whats your position? Post it.

>>18610976
>t they will be able to survive and come on top of this. It also helps they handle their money and assets quite well. Something some of the smaller fish in energy dont have.
>Youre sort of dumb if you dont buy XOM, Chevron and MRO when theyre cheap.

I have calls on DHT and I'm already up 70%.
It doesn't matter what Trump says, what matters if the WORLD needs it. Currently, the world is cucked. That being said, people still need to move oil around. Who moves oil around regardless? What do we have a lot of? OIL. What needs to get moved out of places because theres a surplus so people can store it? OIL

as a brainlet what calls do I make for oil companies? Jan 2021 at 2x what they are?

>>18610976
Agreed. I didn't go crazy on share buys for MRO. Just enough to hold for awhile and dump at median good price.

Spent more cash on cruise lines, hair cuts (pump n dump..got hair cut stock so fn cheap)
Raytheon, etc. Put more money on ones i feel will ride this out.

So fn glad i paid attn at end of March and early april! Fucking buying spree. Was awesome.

>>18604383
MRO chad here
My average bought price is $4
I meant to pick up some below $4 today but totally forgot :(

>>18611107
There is no point of buying long calls just buy and hold if you want to wait it out that long.

>>18611253
Feel ya. I was busy all day at work.. checked in and was like damn..missed it. Ahwell.

MRO has been on a downward trend for the past several years. Why do you think this company would do well post corona?

>>18604723
Brent is going negative too. Read zeihan. He predicted the oil crash.

>>18611381
most of the other companies won’t survive. MRO has plenty of cash on reserve (billions) and low debt. MRO will boom post corona

>>18610115
>Marathon has just as much money saved up as Google or Apple
lol

>>18611381
Suck my dick


Mro gang

>>18604383
putting 3k in this enough to make it?

Alright, memes aside, I've been trying to do legitimate research on Marathon in case there is actually some nugget of truth underpinning this shit. All I've been able to find is that they're well positioned to survive for a while and petitioned against the Texas Oil Commission coordinating prices, but that's about it. Everything else is old news and since the stock has been on a downward trend for a while, long before Coronachan, I don't see a reason to be particularly bullish (beyond any other Texas oil co you think might come out of this thing alive).

If you have info spill it, and if its any good I'll pump the shit out of your position.

I don't understand why people aren't suggesting to invest in GUSH. Why USO over GUSH?

>>18610856
What app is this?

>>18611958
I’m probably going to buy 2 shares

>>18611982
Robinhood

>>18612534
Would you recommend it? I'm looking to get into stock trading

>>18612790
Yes, definitely since you’re looking into trading stocks. The platform is very user friendly. Good luck friend.

>>18612804
>>18612790
You can literally start trading within minutes of downloading the account

>>18612790
Do etrade brah

How to trade oil if you live in europe and use Degiro?

>>18613095
Do what now?

>>18611905
Insider trades. They're putting their money where their mouth is. Corp officers have a lot of skin in the game. They were early with their operational cuts. They demonstrate foresight. It's a fundamentals game right now.

>>18614164
Just google E-Trade
>>18611441
I almost want to drop 600 order but i have no idea how long it will potentially take for MRO to get back on their feet.

>>18612816
Any alternatives? It doesn't seem to be in the UK at the moment

>>18614200
And wtf would back on their feet be? $40?

>>18610828
Put 10k into an ASX WTI oil ETF on monday - currently worth 5K... thinking of buying more

>>18614568
At least around $10-15 i guess, just one big trump pump to make me sell it all on a whim.

>>18604723
Imagine being this dumb

>>18614605
Imagine being.

>>18612790
Open a fidelity cash management acct and play with the big boys.

>>18610333
All the good news was price in during April as well faggot. So we've priced in COVID and the recovery from COVID, the next wave is uncertainty over the housing market and international trade which is gonna take us red again.

>>18614568
$15 - $20, $40 is possible but only if oil goes really high, which was unlikely even before all of this.