WARNING: Read me before buying OOO, page-476

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jimk3758

22,721 Posts.

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23/04/20

19:48

Post #: 44220496
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Originally posted by Jmorson ↑

No, you dont understand. I have sold a larger number of shares with a lower value for a smaller number of shares with a higher value. My invested amount is still the same. I have reduce leverage though which is a shame. But I'd rather reduce leverage and have something left in a month or 2, than have high leverage and go bust which was likely if we stayed 1 month forward. You invest in what you want RWC1, but make sure you understand what your investing in.
I bought OOO understanding it was u large risk/reward purchase. I think production cuts that will come with this low price will put alot of oil companies under, not just small high cost fracking companies either. I think if i dont get crushed by contargo and make it through a few months, the reduced production will increase future oil prices. I also believe the US will take drastic measures to see oil prices rise and WTI futures will gain more, and quicker than investing in oil majors. Investing in FUEL i believe is just as risky as i think a number of those 50 companies will also be adversely affected short term by this low oil environment, and a number will cease to exist. Invest where you will, but stick to fact, not your unwanted opinions.

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June contacts were purchased for $26+ and sold for around $15. Sept was purchased for $26+

Spot oil must increase 68% to $26 to break even and not lose money. Day trading is different.

Last edited by jimk3758: 23/04/20

OOO Price at posting: $19.36 Sentiment: None Disclosure: Held
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