Oil is below $34 a barrel - is it time to buy more? - GoFuckYourself.com

Kard63 · 02-12-2009, 12:36 PM

Oil is below $34 a barrel - is it time to buy more?

Scott McD · 02-12-2009, 12:37 PM

Prices are going up every day here for the last 2 weeks or so...

seeandsee · 02-12-2009, 12:38 PM

it's time!

Furious_Male · 02-12-2009, 12:45 PM

I am watching DIG and DBO. I am holding a good amount now. I am going to add a little at these levels but I am really waiting for it to crack below 30.

Kenny B! · 02-12-2009, 01:35 PM

It better go up, my HOU stock is in the toilet

SomeCreep · 02-12-2009, 01:37 PM

Quote:

Originally Posted by Kard63

Oil is below $34 a barrel - is it time to buy more?

Yes, if you know what you're doing. No, if you don't.

woj · 02-12-2009, 02:02 PM

can't go wrong with buying some now, when the economy recovers will make significant profits

Kard63 · 02-12-2009, 02:15 PM

aight, I'm gonna buy 50% more.

Joshua G · 02-12-2009, 02:23 PM

oil will rocket in price at the first whiff of job growth.

$5 submissions · 02-12-2009, 02:28 PM

It's dipped to this level before. Regardless, it may be a good bet to buy at this and lower levels. Prices will be pushed up by inflationary pressures caused by all the bailout/stimulus money being rolled out by many governments. More money printed + same amount of goods = price of goods goes up. Just my 2 cents.

DaddyHalbucks · 02-12-2009, 02:30 PM

Yes, it's time to buy! My suggestion is to drain your swimming pool of water, and fill it up with light sweet crude. You'll be the envy of your neighbors.

Furious_Male · 02-12-2009, 02:39 PM

Quote:

Originally Posted by joshgirls

oil will rocket in price at the first whiff of job growth.

Yes indeed. Thats why I have been accumulating at this level for some time now. If it cracks below 30 I am going to dive in heavy.

Offshoremadame · 02-12-2009, 03:50 PM

If it goes a bit further and you know what you're doing then dive in. I just wish the damn price of gas would stop going up again - don't know where everybody else is at but in Miami it's already at 2.35 in some places again and it was at an all time low of 1.65 just a month ago

...people will have to garage their Hummers again

JP-pornshooter · 02-12-2009, 03:55 PM

buy?
oil options or futures?

$5 submissions · 02-12-2009, 04:00 PM

Quote:

Originally Posted by Offshoremadame

If it goes a bit further and you know what you're doing then dive in. I just wish the damn price of gas would stop going up again - don't know where everybody else is at but in Miami it's already at 2.35 in some places again and it was at an all time low of 1.65 just a month ago

...people will have to garage their Hummers again

The difference in the price between gasoline and oil is due to refining costs and the different demand curve for gasoline.

Yeah, it's pretty bad here in the Philippines as well. Gasoline is ratcheting up every week even as oil goes down.

Kard63 · 02-13-2009, 12:14 AM

Quote:

Originally Posted by $5 submissions

The difference in the price between gasoline and oil is due to refining costs and the different demand curve for gasoline.

Yeah, it's pretty bad here in the Philippines as well. Gasoline is ratcheting up every week even as oil goes down.

Then refining costs have gone WAY up in 7 months because the gap in inconsistent.

Kard63 · 02-13-2009, 12:34 PM

How is oil up 10% today and USO is down 2%? I was right- oil went up, but I would have bought USO instead of futures so I would have lost. I thought they moved up and down in very close tandem with each other...?

SomeCreep · 02-13-2009, 12:50 PM

Quote:

Originally Posted by Kard63

How is oil up 10% today and USO is down 2%? I was right- oil went up, but I would have bought USO instead of futures so I would have lost. I thought they moved up and down in very close tandem with each other...?

Like I stated above, never invest in things you do not fully understand.

"Here are the current prices for oil contracts with expirations in the next six months. Notice how every contract is more expensive than the one that preceded it. USO follows a simple strategy of buying the current contract and then rolling into the next contract before the current one expires.

March 2009 - $40.42

April 2009 - $46.22

May 2009 - $48.88

June 2009 - $50.45

July 2009 - $51.28

August 2009 - $52.70

Source:NYMEX. Data as of 2/9/08.

Until last Friday, USO owned the March 2009 contract. Specifically, it owned 84,378 March contracts, entitling it to 84.4 million barrels of oil.

But on Friday, it sold all those contracts and bought the April contract instead. But because the April contract cost $6/barrel more than the March contract, it couldn't afford as many contracts. In fact, if you exclude new inflows into the fund, it could only buy 73,444 April contracts.

Whammo presto, the holders of USO lost 13.4% of their exposure to crude oil. They now control less oil. If the spot price stays near $40/barrel, the value of those April contracts will decay back to $40/barrel over the next month and investors will lose their shirts. If the price of oil jumps 15% in the next month—before USO rolls again into the May contract—investors will only break even."

source: http://biz.yahoo.com/indexuniverse/0...2_id.html?.v=3

Kard63 · 02-13-2009, 12:56 PM

Quote:

Originally Posted by SomeCreep

Like I stated above, never invest in things you do not fully understand.

I already have some but your comment, and the person who agreed with you, are big reasons I didn't go buy more yesterday evening. I guess if USO was up 10% today I would be calling you guys names but it seems it worked out ;)

Thanks for the explanation. I'll check it out when I get home.

Kard63 · 03-04-2009, 01:53 PM

I think I'll switch it all to USL tomorrow.

02-12-2009, 12:36 PM	#1
Kard63 Confirmed User Join Date: Nov 2003 Location: 237 619 975 Posts: 8,944	Oil is below $34 a barrel - is it time to buy more? Oil is below $34 a barrel - is it time to buy more? __________________

02-12-2009, 12:37 PM	#2
Scott McD Too lazy to set a custom title Join Date: Nov 2002 Location: Glasgow, Scotland Posts: 67,795	Prices are going up every day here for the last 2 weeks or so... __________________ I Buy My High Quality Traffic Here, You Should Too!

02-12-2009, 12:38 PM	#3
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	it's time! __________________ BUY MY SIG - 50$/Year Contact here

02-12-2009, 12:45 PM	#4
Furious_Male Doing the grind since 99 Industry Role: Join Date: Oct 2003 Location: Buffalo NY Posts: 16,880	I am watching DIG and DBO. I am holding a good amount now. I am going to add a little at these levels but I am really waiting for it to crack below 30. __________________ Living in Virtual Reality Contact: Email (preferred): furiousmale .at. gmail - Skype: live:shanedws

02-12-2009, 01:35 PM	#5
Kenny B! Confirmed Abuser Industry Role: Join Date: Jun 2003 Location: Montreal Posts: 5,716	It better go up, my HOU stock is in the toilet __________________ Kenny -at- YourPaysitePartner.com Skype: kennyb514 Do business with us: Your Paysite Partner Kenny's Pennies Sticky Dollars Radical Cash Indie Bucks Stand Ahead Read My Ambush Interview Here

02-12-2009, 02:02 PM	#7
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	can't go wrong with buying some now, when the economy recovers will make significant profits __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

02-12-2009, 02:15 PM	#8
Kard63 Confirmed User Join Date: Nov 2003 Location: 237 619 975 Posts: 8,944	aight, I'm gonna buy 50% more. __________________

02-12-2009, 02:23 PM	#9
Joshua G dumb libs love censorship Industry Role: Join Date: Jul 2008 Posts: 8,198	oil will rocket in price at the first whiff of job growth.

02-12-2009, 02:28 PM	#10
$5 submissions I help you SUCCEED Industry Role: Join Date: Nov 2003 Location: The Pearl of the Orient Seas Posts: 32,195	It's dipped to this level before. Regardless, it may be a good bet to buy at this and lower levels. Prices will be pushed up by inflationary pressures caused by all the bailout/stimulus money being rolled out by many governments. More money printed + same amount of goods = price of goods goes up. Just my 2 cents. __________________ Need a NON-ADULT income stream? We build your YOUTUBE CHANNEL for only $20 per video! For Hire: $3/hour or $400 per month Marketing Specialist Virtual Assistants

02-12-2009, 02:30 PM	#11
DaddyHalbucks A freakin' legend! Industry Role: Join Date: Feb 2004 Location: Las Vegas, Nevada USA Posts: 18,975	Yes, it's time to buy! My suggestion is to drain your swimming pool of water, and fill it up with light sweet crude. You'll be the envy of your neighbors. __________________ Boner Money

02-12-2009, 03:50 PM	#13
Offshoremadame Registered User Join Date: Feb 2008 Location: Miami Posts: 15	If it goes a bit further and you know what you're doing then dive in. I just wish the damn price of gas would stop going up again - don't know where everybody else is at but in Miami it's already at 2.35 in some places again and it was at an all time low of 1.65 just a month ago ...people will have to garage their Hummers again __________________ ~Laura Miamioffshoreservices.com Florida & Nevada LLC / Inc, EIN & U.S. Bank Account Belize IBC & offshore bank account

02-12-2009, 03:55 PM	#14
JP-pornshooter Confirmed User Join Date: Sep 2006 Location: westcoast usa Posts: 4,007	buy? oil options or futures?

02-13-2009, 12:34 PM	#17
Kard63 Confirmed User Join Date: Nov 2003 Location: 237 619 975 Posts: 8,944	How is oil up 10% today and USO is down 2%? I was right- oil went up, but I would have bought USO instead of futures so I would have lost. I thought they moved up and down in very close tandem with each other...? __________________

03-04-2009, 01:53 PM	#20
Kard63 Confirmed User Join Date: Nov 2003 Location: 237 619 975 Posts: 8,944	I think I'll switch it all to USL tomorrow. __________________ Last edited by Kard63; 03-04-2009 at 01:54 PM..