Post by
Cobalt on Sep 23, 2022 7:59am
Biden looking brilliant
If he can refill below $80 , 67 cents right now brilliant play. Best crysral ball / forcasters out there, was it really that hard? toss the world into a deep recession to kill off inflation maybe not such a hard call, fun times when to cover shorts hmm
Comment by
masfortuna on Sep 23, 2022 8:09am
Not convinced his move was that brilliant. He has to cover what he used and at the moment he hasn't covered anything.
Comment by
Cobalt on Sep 23, 2022 8:22am
Things can change but at this moment in time it is looking like he just has to put the puck into the open net. Nobody saw this coming but Mike Mcglome and the white house team.
Comment by
dllscwbysfn on Sep 23, 2022 8:47am
I think you are getting a little ahead of yourself. You must consider 2 things, they are still drawing out of the spr for another 2 months and they have no stated plan to restock it. Maybe Mr. brilliant can forgive some more loans.
Comment by
Cobalt on Sep 23, 2022 8:58am
What is to consider? keep selling into seasonal weakness panic everyone out of that market then start adding on a Friday after market or when the news cycle is raging on something easy peasy , did i miss something?
Comment by
dllscwbysfn on Sep 23, 2022 9:13am
You missed everything!!!!
Comment by
masfortuna on Sep 23, 2022 9:21am
What do you mean? If the barrels were bought at a lower cost than what physical oil is worth then it's a net loss to him. And as you know, commodity pricing is volatile. He saved himself some time with the American public but at the end of the day the price of oil will be dictated by supply and demand. FYI Mcglone is calling for $40 dollar oil. If you believe that, then short the thing.
Comment by
Cobalt on Sep 23, 2022 9:25am
Just ment Mcglone had the direction right, net lose matters? 30 trillion, all about net votes
Comment by
masfortuna on Sep 23, 2022 9:33am
Correct but he made the call BEFORE the oil spike to $120. And I don't see oil at $40 today. It's at $80. Nothing wrong Cobalt playing the winning side but I am not an active trader. I am looking at least 6 months out and I see oil still above $65 which is what I am looking for as companies have used that as a marker. So do you see oil at $65?
Comment by
Cobalt on Sep 23, 2022 9:42am
Price target on oil right now is impossible on the edge of a currency black swan , long term still a bull. Traded too may recessions to just hold through them and be down 70% i ride trends nows HQD good luck
Comment by
Re1ndeer2 on Sep 23, 2022 9:41am
This is not Suppy or Demand related, all Capital Markets and Powell.......Elizabeth Warren may be closer to right than we may think..