OIL

Firespawn
Firespawn

What the FUCK is going on with oil? Stocks are up 15% in the last 3 days. Pic related, tempted to sell it and buy back when it goes back down.

Nude_Bikergirl
Nude_Bikergirl

hmm. i might Do the same with SDRL. any reason why this is happening?

Playboyize
Playboyize

Canada has oil shortages in places, would that do it?

Emberfire
Emberfire

you're stupid as fuck and you're going to lose all your money

New_Cliche
New_Cliche

its artificial, you should have expected this seeing that its an election year.

You are gonna see a war before oil reaches 20$

King_Martha
King_Martha

How do I lose my money if i'm up 15% and sell it.

StonedTime
StonedTime

What the FUCK is going on with oil?
Some environmental terrorist organization in Nigeria (?) took down a plant and caused shortage. It's barely been in the news.

farquit
farquit

OP is about to make a profit

Yur gonna lose your money!

Neat-o.

happy_sad
happy_sad

Probably ISIS members getting BTFO by Russia

Nojokur
Nojokur

What is buying a futures contract on oil?

Illusionz
Illusionz

If you sell the stock then the stock wins.

lostmypassword
lostmypassword

Okay Trudeau

Burnblaze
Burnblaze

Oil is going up but will it break the $69-$70 hyper-resistance level?

SniperWish
SniperWish

Nigeria has gotten a lot worse with militant attacks.
Venezuela is in a downward spiral. Their national company might stop paying workers and stop production soon.
Canadian production hasn't recovered yet.
Shale wells are continuing to dry up without more drilling.
It's summer and people are buying more.

Not all of these are really new, but the market takes a while to react to things.

mfw I'm up 30k so far this week

Dreamworx
Dreamworx

Not likely.

Far too many near broke companies will start drilling long before that and re-flood the market. Granted there is a delay between spudding and production but the market watches rig counts pretty closely.

Garbage Can Lid
Garbage Can Lid

nice dude well done. Most commodities are up actually. Do you trade precious metals at all?

farquit
farquit

It's kind of surprising though, the timing of it. There isn't much difference in the fundamentals this week as opposed to last, but there's been a large price change.

I bought oil because I like to think I understand the fundamentals about it, and the low price months ago was the biggest news in Canada.

I don't get gold. I don't understand the demand of it. Looking at charts I see there's a support level around $1100, so buying it a few months ago would have been a good idea.

cum2soon
cum2soon

environmental terrorism in nigeria
That's actually fucking hilarious.

All these people dying of aids and poverty are inevitable, what isn't is the health of our ecosystem!

takes2long
takes2long

If you really want to piss off an MBA who asks you, "Why is oil going up?" just use this answer:

"More buyers than sellers."

Inmate
Inmate

It's not ecologically motivated. They live in Biafra, which fought a losing civil war for years. Almost all of the oil is there, and they don't like sharing it with the rest of the country.

JunkTop
JunkTop

You cant just "start drilling" if you're a near bankrupt oil company. You need money to start new projects and no bank is going to give it to you. Bankers wont see new E&P as a good investment until crude stays in the $60s for 6 months. Offshore projects take a couple years from tenders to crude, anyway. Even onshore is takes awhile from the time the project is approved till the oil flows.

Invest in oilfield services because the rush they are going to get to get everyoned projects online as fast as possible will be the biggest in history. $SPN is already up to $19.50 from when I bought it at $14 last year

Techpill
Techpill

Okay Trudeau
Best response

Burnblaze
Burnblaze

I knew oil was gonna rise. It sucks not having any money to invest :(

Firespawn
Firespawn

OP is prepared to based on a total guess. do you even have a valuation of the company? can you discuss the company intelligently in any depth at all?
why is BNE inevitably going back down? why is the stock price even being driven by oil and not a change on the board etc? why is oil even going back down?

this is why you're stupid as fuck, you literally gamble based on Veeky Forums "common knowledge" and have no idea what you're doing.

CouchChiller
CouchChiller

30k in a week
how? what kind of position size do you have, or do you use margin or options?

JunkTop
JunkTop

OP sells at a profit
"stupid gambler, youre gonna lose all your money"
I dont think you thought this through, user

Fuzzy_Logic
Fuzzy_Logic

Gold is simply. It's worthless when the economy is good but when economic uncertainty hits you'll have right wing/austrian economists pushing for people to buy gold to hedge against inflation.

hairygrape
hairygrape

I held my SDRL through today

Snarelure
Snarelure

Lmao

takes2long
takes2long

About 70k. Not that impressive really.

LuckyDusty
LuckyDusty

so much this

Dreamworx
Dreamworx

what happens when chinese artificial demand plummets?

Lunatick
Lunatick

What do I do?

LuckyDusty
LuckyDusty

mfw hopped in on HCLP @ 6.90 usd

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