03-31-2020, 03:44 PM
(03-31-2020, 03:41 PM)fenders53 Wrote:I have listened to you before, lol. Otherwise I would be neck deep in oil already. Thank you for reminding me to wait. Agreed, doesn't look like oil is recovering tomoorw. My speculation is that Trump will focus more on oil closer to election time, not at this moment.(03-31-2020, 03:20 PM)vbin Wrote: I am chest deep in oil.and ready to go neck deep. We will see super cycle in oil once demand comes back and high debt companies have filled ch 11( don't get me wrong, I am not happy people leaving jobs but that's what will happen unfortunately. )
Not that you have ever listened to me before on oil but........... Wait for a little more blood in the streets. We are getting close. Nobody is out of business yet, hardly anyone has cut a dividend yet. Capitulation has not happened yet.
What is your thesis that oil demand recovers anytime soon? That has to happen in a big way. You believe the virus is doing VERY real damage right? (your short positions say you believe that and you put your money where your mouth is). That thesis absolutely flies in the face of oil being anything but treacherous for many months. We know demand is dead for a good while. I can only think of one way the supply chain is disrupted and nobody is in the mood to start a regional war right now IMO.
I will never invest another nickel in oil until companies are panicking. It has to be starting but I haven't seen it yet.