Anyone else affected by the dumb oil price war nonsense going on right now?
I got my entire stock portfolio on an oil company because it was looking like an easy profit and then yesterday their stock plummeted to 0.15 cents from this.
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Longpatrol · 31-35, M
TeirdalinFirefall · 31-35, M
@Longpatrol Chesapeake energy. And true it's possible.
Longpatrol · 31-35, M
@TeirdalinFirefall
https://seekingalpha.com/article/4330717-chesapeake-bankruptcy-now-option
https://seekingalpha.com/article/4330717-chesapeake-bankruptcy-now-option
Heartlander · 80-89, M
Yes.
Just walk it down in big steps and wait it out 🤞. Oil stock and oil industry services are going up and down 4%+ a day, sometimes 2 or 3 cycles in a day.
Most of the big oil companies are paying unsustainable dividends. When they pull these in look out below.
The one safe haven seems to be in utilities, probably because everyone's heading there as they bail out of everything else :)
So gently dump the oil, invest that money in utilities, and wait for oil to bottom. Then walk these last two steps backwards. If you catch it right you may become one of those rich people that Bernie Sanders likes to rant about (maybe).
Just walk it down in big steps and wait it out 🤞. Oil stock and oil industry services are going up and down 4%+ a day, sometimes 2 or 3 cycles in a day.
Most of the big oil companies are paying unsustainable dividends. When they pull these in look out below.
The one safe haven seems to be in utilities, probably because everyone's heading there as they bail out of everything else :)
So gently dump the oil, invest that money in utilities, and wait for oil to bottom. Then walk these last two steps backwards. If you catch it right you may become one of those rich people that Bernie Sanders likes to rant about (maybe).
Johnblackthorn · 56-60, M
xixgun · M
I'm happier when I buy gas. Does that count?