hehehe, he forgot USO is not open at 5am.
Don't tell me you were investing in futures now.
you just don't get it. Once you get into hedging, you are trading. Trading is NOT an easy job. Most people lose money in trading. That means sooner or later, the airlines will lose money in trading. Many airlines have lost big money in 2008 market crash.
yahoo finance spread this rumor:
OIL GIANT WARNS: Crude Could Crash To $30
By Myles Udland 22 hours ago
This time, they spread rumors that oil would drop to 40s.
buy or sell the other direction.
You know who they are. Those who spread rumors on CNBC and finance media.
That means the Russian government will get into oil trading. As most of us know, trading is not easy. I doubt Russians will get out alive from oil trading after they get into it.
I don't think airlines companies are buying. I have a friend in the airlines hedging department. He said arilines don't do futures hedging anymore, because they got burnt before. Airlines now generally buy fuel on the spot market. No futures.
I am utterly disgusted at today's rebound, after I sold with a big loss last week.
If I held until today, I would have lost less. But the analysts were all predicting oil would drop to 50 or even 30s. So I capitulated last week.
I am dead. I will never be able to trade again. I lost most of my trading capital. I am finished.
I went long again yesterday and held overnight, fully convinced that OPEC would cut production.
But, the rest is history............... I am in serious trouble, I am holding.
without an announcement of production cut on Thursday, I will be finished.
All my money is in a long position of oil.
Help me, Allah, please make the Arabs cut production.
I went long yesterday in the morning. I was in profit until noon when it dropped, but I knew OPEC would cut production, so I held overnight. This morning, it came back up. So I was happy that I didn't sell yesterday. I planned to hold until OPEC meeting, because the Arabs would cut production to raise price. It's good for themselves, so I was confident they would do that.
But, to my horror, the price suddenly dropped today. I don't know what happened. The OPEC meeting is Thursday, why this violent action?
The bad thing is that I am still holding my long position, because I was convinced OPEC would cut production.
I hope I will get out of this mess alive this time. I will hold until Thursday.
I regret enormously............. The regret is even more painful than yesterday's loss.
I don't know which is more painful, a simple loss or a rebound after a loss? This rebound is pure evil to people who sold yesterday with a big loss.
I listened to you and sold yesterday in after hours. Now it bounced back today. you #$%$ clueless @@#%.
these manipulators took my hard-earned money.
fp12345, I know you are long, tell me how you feel.