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I started trading shares in early February when I was on holiday in South Africa. Read about the virus and listened to a podcast by a viroligist that freaked me out. So I sold FTSE100 and CAC40. Tiny amounts, just for fun, pocket money.
I bought back too early. Have since played around shorting airlines, cruise lines and going long pharma and Danish banks.
I was in the oil industry so oil intrigues me and I could be tempted to buy back in. TLW is a possibility, but most likely too risky for me, I prefer to play it safe.
So will most likely end up being BP, Total for Shell, but only for short term gain, long term I think they're all f*()d
Novecking, if you want proof, I can happily provide it.
I was a 'downstream' trader i.e. refined products (distillates like jet and diesel mainly).
I know a fair bit about refining, shipping etc. but not so much about exploration and drilling and production.
Some now saying, that as with the flu / common cold, no vaccine will ever be found that is over 60% effective.
And if it does come it will be in 2021.
Germany reopening very tentatively.
China still has many restrictions in place.
USA is widely recognised to be flirting with disaster if they do try to reopen and many states are simply refusing to do so.
Spain, France, Italy, UK still very much locked down.
But the big question here is; what happens if cases spike back up in any of these countries once lockdowns really are fully lifted? That would mean a new lockdown and a big market plunge.
PAD, I don't have a short position, just sniffing around to buy if it gets really cheap.
I don't think crude or Tullow will go much lower today.
Best get your cheque book ready, it's almost there.
Sounds reasonable. And will improve for all because the 13$ part is only over a few days.
As of tomorrow May TI expires and we go to June which is at 22.50.
How about 2021?
Could have been a lot worse for the SP in my opinion......
It was pointed out on this board just how bad the prompt situation was many, many times.
Yes, it looks better further out (how could it not?!), but you have to clear away this surplus first and with demand in the crapper, it will take time.
Could you maybe post something concrete, you know ideas, facts, as to why you think it will be going up?
Torna, good point and good idea, makes sense.
However, Spain just rejected this approach. I live in Mallorca and there are very few cases here. As an island it would make sense to open us up slowly as an experiment. But no, common sense is lacking in a terrible Spanish government, so we stay locked down.
True.
Question is, who's buying?
OK please chaps, can we understand this point....
You cant' compare May WTI with June Brent. May is about to expire and under extreme pressure.
Compare June WTI to June Brent. It's 4.50$.
TJH, no it isn't.
It's MAY WTI, versus JUNE Brent.
Yes. This point has already been covered multiple times, see below.
They will collect on the hedge whatever. But by how much can they reduce production, that is the million dollar question.
Hmm, not moving up is it?
Have to say it's scary that people like you are trying to make a fast buck here on something you know nothing about.
WOuldn't you be better off betting on football or something?
Doc, post proof, or you just confirm you're an idiot.
I can prove I was a jet fuel trader. Can you prove you're an idiot?