Don't want to get political, but I can think of lots of things other than oil to tax;
More tax on Tobacco and Alcohol
Double the luxury tax on items like Rolex watches, cars costing over $100,000, Yachts, and homes purchased for more than $2M.
Increase the tax bracket on everyone making more than $1M a year, and exclude them from collecting social security....why should TRUMP and Buffett be able to collect? JUST stupid if you ask me.
Legalize prostitution and tax the industry accordingly...you can develop an entire economy around the industry...specialized health care/exams, ID Cards, also apply a sales tax to all clients.
Just a few ideas....along with no disabled soldier should ever have to pay income tax on any benefits.
No illegal alien should collect any benefits that US citizens are eligible for....SS, unemployment, Medicade,
Medicare....food stamps, welfare, etc.....
If ETE gets into the $6's, I may just buy 1000 shs....that Williams deal is a disaster....debt upon more debt...can they get themselves out of that mess??
I think ETE will survive this mess...its not LINE by any stretch of the imagination.
Wait til under $7.00....its coming.....under $6.00 when the cut the divvy...which is also coming....is there anyway they can get out from under the Williams deal, or is it too late??
Back to $12 without Williams.
Mark, I do not know where you got the info about $22. being a break even point for oil...is that just shale?
I thought that figure was well over $30....look at WLL...they are almost bankrupt at $30 oil...
I own UWTI and UGAZ....bought at 1.74 and 1.33....the problem with these is you need to buy enough shares to trade them on a daily basis....like 10,000 share lots....I am not that comfortable with these as yet to buy that much...I am in for like 3,000 share lots....I love both for the long term, but these are not long term investments...they are short term trading vehicles, although not near as bad as TVIX. I am still getting a handle on how to trade these.
I know...weak dollar, no rate increases....I really missed that one...still holding on to UWTI bought at $1.75....
Finally bought something at the right price at the right time....liking GLOP and KNOP purchases as well...could we have seen the bottom in oil?? We can only hope so....FB still falling....glad I sold when I did....take profits whenever you can....especially on stocks without dividends....Still holding on to UWTI which I bought at $1.74...not holding any TVIX at the moment....BAC coming back, but low interest rates for the forseeable future will keep a lid on the price...hoping for increase in divvy and stock buybacks.
Sarge, its a traders market....I liked FB when I bought it at 92...they it went crazy after earnings, and is now losing that froth...I may buy it back. Right now, I take quick profits.
Trying to make a little here and a little there....I like stocks that go up, even on bad days, they snap back nicely, so that's what I keep....APPL, AA, BA, KNOP, GLOG, DOW, ....all keepers with decent divys while you wait.
This market is an investors nightmare....gotta trade to eke out some gains.
Good price here...under $13 is a steal....but don't expect any real improvement until next year.
Are you selling any FB? It had a really big run up, and is getting sold off today...may have reached its peak for a while.
God, I hope not...If so, there will be an opportunity to buy TVIX again unless the market just continues to go down, which I doubt...I am still hoping it holds above the recently tested lows...bought
some UWTI today...$1.75....I will buy more if oil gets to 25.00...I cannot see oil much under that.
Sold some I bought under $5.00 on the Zitka run up still long and will be longer once the hype is over.
I have not been really keeping technical track of the S&P, which I know is more symbolic of the over all market than the DOW...but, just looking at the DOW, we may have just come off a double intermediate low....I don't know if it will hold or not, but so far so good. The market does think there may be a deal between Russia and the Saudi's....I don't think so, and when oil goes back down, the market will go back down...still, I can fee the bottom for oil somewhere in the mid to high 20's...we may have hit it, but we may need to retest...who knows???
I just keep plugging along looking for bargains each time the market tanks...staying away from oil/gas...I have only KNOP I picked up at a a nice price recently. I do know, you don't want to be out of the market when it turns...it turns way to fast now with all the quants and computer programs.
Mark, you have been a "Gloomy Pete" for months now....if you didn't get long some of the bargains out there, you missed a big run up....are you buying anything except tax free muni funds? I have those too, and I'm glad I do, but jeez....of course, I am #$%$ at losing so much money staying in energy too long and not trading out of a huge position in BAC, so I must churn my portfolio to get back what I lost....you were probably not in that position....I hate to even admit how much holding onto BAC has cost me....over rated the effect of the FED's interest rate increase, over rated the economy, which now is moving into a recession, and underrated the 21 B in energy loans, 2.3 B reserved for BAC....all in all, pretty stupid 6 months for me.