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Misc Stock Market

Well I am buying a lot of stock in oil. My guess is govt. steps in to boost it. They have to step in because the energy market will bankrupt if continues to fall. I could see it in 1-2 years $150 a barrel.
 
Being new to stocks on my own. I started about a month ago and have invested almost a 1k in stocks. Lots of smaller cost ones to buy. Recommendations from some of you. I am $10 dollars positive lol. I lost $21 so far this week due to oil prices.
 
I wonder how much the insanely low oil prices will translate to super low prices at the pump? Gas prices in the last few weeks have already come down to levels I haven't seen since my childhood (admittedly, not that long ago, lol).
 
I think your second pullback that I've been wondering about has finally arrived, maybe even being forecasted by that crazy oil stuff. If this virus situation doesn't go off the rails, I feel as if it's not going to go as poorly as early March, but it's here nonetheless.

Just hope with this one that I'm not too late with closing that REIT, if it dips below 25, I might need to suck it up and wait and see if I can get a second chance bounce later this year. I maybe should've taken my loss when it was around 36 but I decided then to gamble and wait (which might have been dumb given that I found out earnings is later this week).

I was even wanting to close it immediately this morning when I saw the premarket but I couldn't do it on mobile.
 
Will Rossman said:
I wonder how much the insanely low oil prices will translate to super low prices at the pump? Gas prices in the last few weeks have already come down to levels I haven't seen since my childhood (admittedly, not that long ago, lol).
Click to expand...

Some more areas are definitely going to dip below $1 imo (saw others posting about it). Last I saw was 1.38-1.39 when I was out.

Too bad the way some oil is trading (the June contract has now been tanking some, but not like May yesterday) suggests that very few are going to travel this summer and that I guess we better cancel any ideas of going out.
 
June crude, the most traded contract the last few days by far, is down a whopping $7/35% down to just over $13!! Unlike yesterday’s May contract extreme collapse, this is not on an expiring and thinly traded contract. Yesterday it fell about $4. These are historic times in the oil market.
 
I could actually see the oil market do a whiplash in the longer term. Say these super low prices extend for weeks and months. We will then begin to see many US oil companies, and refineries, go bankrupt. If that happens, whenever we do see prices rise from more demand, (such as lifting of lockdowns around the world) and less supplies (possible wars or other disasters affecting critical oil trade routes), we will be hit hard at the pumps with high prices. I really hope I'm wrong though.
 
GaWx said:
June crude, the most traded contract the last few days by far, is down a whopping $7/35% down to just over $13!! Unlike yesterday’s May contract extreme collapse, this is not on an expiring and thinly traded contract. Yesterday it fell about $4. These are historic times in the oil market.
Click to expand...

yep, the June contract is starting to get a taste of reality.
 
Unreal times. Never thought I would see the oil market like this. Bankruptcies almost certain. I also agree about the whiplash.
 
Crude trading has been temporarily halted to extreme losses of over 50% to below $10!!

Crude Oil Contract
RT-Derived
BuySell

The best bids/asks are now at $9.34!

9.34 -11.09 -54.28%

Halted again with best bids/asks way down in the $6.50 area!
 
GaWx said:
Crude trading has been temporarily halted to extreme losses of over 50% to below $10!!

Crude Oil Contract
RT-Derived
BuySell

The best bids/asks are now at $9.34!

9.34 -11.09 -54.28%

Halted again with best bids/asks way down in the $6.50 area!
Click to expand...

And just 35 minutes later, June crude has doubled that $6.50 low and is back way up to $13 just before the official settlement period for the day!
 
By the way, May crude, which is minutes away from expiration, is up a whopping $50 or near $13/where June is at.

Edit: I think May may have expired back down near the $11 area. Hard to tell. But even that would be up like $47-8 on the day! Crazy times!
 
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