RE:RE:RE:RE:RE:Back in I gotta agree with that snowballer , I long ago dropped my 1/4 million shares and left a note on my bosses desk , it said "gone fishin" . riski has 1.2 million shares which translates into $12K for each penny up or down , I'm too old for that kind of rollercoaster ride .
Today alone was $0.19 X $12K = $228,000.00 down in 6.5 hours (I'd be puking)
Snowballer wrote: You keep insisting Riski that traders are missing "it again". Is this a joke? Most of us sold our massive positions from over the years at $9 and/or $8. Then we've been bouncing between $5's and $7's. It would seem only you MISSED IT. Many got rich already lol. Now the need to keep risking huge amounts isn't necessary for many. Easy money has been made but keeping exposure not a bad idea.
For your sake I hope it doesn't got to $3 or $4 cause that would seem like an incredibly wasted opportunity you had given the size of your position. I would argue that it is already the case being back here at $5's but you never know, maybe you get lucky and the economic crash will somehow leave oil unscathed? We shall see.
riski wrote: This is the narrative spun by Western nations. Oil was high because of the evil Russia bogeyman.
However, every barrel of oil that Russia would have sold without war got sold during the war just the same.
This narrative ignores that there is a structural problem with supply that will send oil much higher than $70/barrel. Much, much higher.
The opportunity is before you - a second chance to get rich, but it sounds like you and many bearish traders on this board are going to miss it again. Sadly.
David01montreal wrote: Had bought cve cve at 20.00 sold at 21.00 not even a month ago, bought it back at 18.12, I thought I got a bargain, it still went further down . I believe that the oil industry had a huge increase because of the Ukraine war and made alot of people rich, but share prices will go back down and debt will stay high. Poor management, what do you think the average buyback share price is. To bad glt the longs