First, I never claimed to be an "oil maven". Just a retail investor with a way to easily get in and out of a commodity. I also do not strive to catch the exact top or bottom of a move. Well, everybody strives to, but it seldom works out that way. Mostly, I try to catch the meaty middle part of a move. That's what I accomplished with my short and what I will try to accomplish on the inevitable move back up once the #$%$ contest is over wrt production. I recognize the deterioration of price in ETFs like USO, but I'm not in long enough to experience much of it and there's no such thing as a free lunch. I'll pay the price for the easy in and out.
Watch and learn?! From you?! LOL!!! USO retested its low today and that made me a buyer with a toe in the water at eight bucks. Read my posting history. I have been, am, and will continue to be right on oil (started shorting when it fell below 100. I could be early - I had originally called for the turnaround in spring, and, as I have maintained, oil could slog around here for a while, but it Saudis will not let it go below 20.
Ummmm ... I believe that's what you said at 60 ... and at 50 ... and at 40.
Somebody down-voted me. Dingly ... is that you? LOL!!! I told you six months ago oil would not turn until the spring. Why you no listen?
You're right. I said the easy money had been made. I'll put a toe in the water when USO touches 10.50. And you'll still be under water for a long, long time.
But with the world economy the way it is, and the p-ssing contest on supply between the Saudis and the Russians oil could stay at these levels for a long, long time.
That's why you're a sucker. Because you can't admit you've been wrong. The idea isn't to be a stopped clock. You lose a lot of money that way.
You've lost 50% of your money just since April, dingly. When oil was 60 you said 200. When USO was 20+ you said Buy, Buy, Buy. "cmon, u know it". Now oil is 35. USO is sub 11.
You're NEVER going to even get back to break-even.
Meanwhile, the smart people ... you know, like me ... were SHORT. And in my case DOUBLE-short through SCO. Read my post history. You'll see it.
Thanks for the money, dingly. The only one with egg on their face is YOU.
Your [sic] welcome?! For what? You being WRONG about oil for more than a year! LOL!!!
"OIL this low is going to start collapsing stocks"
Baloney. Oil stocks maybe. But most companies BENEFIT on the bottom line from low oil prices.
At this point, I recommend cyanide. You can buy it, you know. It's a little pricey but probably one dose will do it. I recommend the 20 PPM cylinder. Hook it up, open it up, and breathe slowly.
Oh ... but before you do ... sell your USO and at least leave your family with a little something!
kingly, I haven't been here in a couple of months. Thought I'd check in to see if you were still here spouting your BS. I can't even believe that you are. When oil was 100/bb you were saying 200 while I was short. C'mon bro, level with us. How much ya down?