Stocks to Watch Thread

[KI4MVP]

There’s some seriously bearish sentiment on the future of oil right now with defaults already starting and banks seizing assets. From what I’ve read starting and stopping drilling is an extremely expensive endeavor so a lot of these companies are willing to sell at a massive loss to try to weather the storm because of how expensive it is to stop drilling

certainly can't cost anything to stop drilling new wells - this article is from November

Alberta allows producers to drill new conventional oil wells without production limits | Globalnews.ca

Just in time for the winter drilling season, the Alberta government is hoping to boost the economy by allowing new oil wells to be drilled.

globalnews.ca

 

[KI4MVP]

@KI4MVP oil has absolutely cratered to the point that the oversupply is so extensive that Oil prices in Canada are now negative. people are literally being paid to take oil

ohio price in US negative now too.

"benchmark U.S. crude for May delivery plummeted to negative $3.70 per barrel, as of 2:15 pm. Eastern time"

Oil prices plunge below zero, stocks close lower

Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic.

www.usatoday.com

 

[The Wizard of Moz]

ohio price in US negative now too.

"benchmark U.S. crude for May delivery plummeted to negative $3.70 per barrel, as of 2:15 pm. Eastern time"

Oil prices plunge below zero, stocks close lower

Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic.

www.usatoday.com

I made a comment in the coronavirus thread but it blows my mind how a legal cartel can be this incompetent. Let them reap what they sewed on this.

 

[Huber.]

Where does one go to receive a barrel of crude oil along with cash once this hits -$20 a barrel?

 

[bob2the2nd]

Where does one go to receive a barrel of crude oil along with cash once this hits -$20 a barrel?

Lets run this idea out. What would you do with a barrel of crude oil?

I assume the 20 dollars turns into strippers and blow.

 

[bigking777]

That's per contract. And each contract controls 1000 barrels of oil.
So one contract closed at negative $37.
So you would need to take delivery of 1000 barrels tomorrow and you'd collect $37,000.
Not a bad deal if you've got a couple tanker trucks (or a ship).

 

[Huber.]

That's per contract. And each contract controls 1000 barrels of oil.
So one contract closed at negative $37.
So you would need to take delivery of 1000 barrels tomorrow and you'd collect $37,000.
Not a bad deal if you've got a couple tanker trucks (or a ship).

What about a pickup truck and the Cuyahoga River? Burn on, big river, burn on.

 

[Triplethreat]

I'm in Tesla at 695 finally.

Would've like to be in earlier, but I will long it at this price.

 

[RonG]

I am waiting for the bottom to fall out before i go all in. I really don't see what is keeping the market up. The economy is a hot mess, everyone is bleeding so I just don't trust it. Literally i can't fathom how just printing money is keeping the markets moving.

I bought one stock so far, 1000 shares of MGM at just under 6 dollars an hour.

 

[The Wizard of Moz]

I am waiting for the bottom to fall out before i go all in. I really don't see what is keeping the market up. The economy is a hot mess, everyone is bleeding so I just don't trust it. Literally i can't fathom how just printing money is keeping the markets moving.

I bought one stock so far, 1000 shares of MGM at just under 6 dollars an hour.

It was the quickest 35% loss in the history of the stock market. Even quicker than the bear market that involved the 23% black Monday crash in a single day

timing markets very rarely works out

 

[RonG]

It was the quickest 35% loss in the history of the stock market. Even quicker than the bear market that involved the 23% black Monday crash in a single day

timing markets very rarely works out

I agree with you that trying to time markets rarely works out, but there is no way its hit rock bottom. Things will get worse before it gets better. I should have said i am waiting for another market correction.

 

[The Wizard of Moz]

I agree with you that trying to time markets rarely works out, but there is no way its hit rock bottom. Things will get worse before it gets better. I should have said i am waiting for another market correction.

Fair enough. I waited too long in December of 2018 and have been mostly sidelined since with a plan to jump back in so I am likely biased from being out for so long.

What I learned from that was I’m never going to get exact bottom, but cash doesn’t get you any returns. So on the slide down I slowly deployed my cash in by dollar cost averaging in. These are mostly very long term holds so I won’t get the best prices, but my outlook long term is bullish.

 

[The Wizard of Moz]

playing Twitters earnings. I wrote a straddle and bought 100 shares. Max gain is 20.5% if Twitter is above 32 on Friday.
Watching SNAP absolutely soar on better than expected daily active users (35% gain next day) made me think Twitter would have a good earnings. If not I am fine holding the company longer term (would be 200 shares if it falls below 29 because my put would be exercised and I would take the shares)

It’s honestly kind of wild to me SNAP and TWTR have the same market cap given where each is in its development

 

[Triplethreat]

My play on Casinos has paid off MASSIVELY.

Penn hit 4.00 on March 18 and MGM was at about 5.00.

That’s a 400% return so far on both of them. Unfortunately I had to keep dollar cost averaging and my return is not even close to that.... If you dumped money into the casino industry on March 18 you’re looking at 10x upside.

 

[Triplethreat]

Fair enough. I waited too long in December of 2018 and have been mostly sidelined since with a plan to jump back in so I am likely biased from being out for so long.

What I learned from that was I’m never going to get exact bottom, but cash doesn’t get you any returns. So on the slide down I slowly deployed my cash in by dollar cost averaging in. These are mostly very long term holds so I won’t get the best prices, but my outlook long term is bullish.

@RonG