HOLY TOLEDO...FUTURES SAYING CRUDE OIL TO GET CRUSHED

bishqqq

bishqqq

EOG Addicted
Experts are calling dramatically lower crude prices as major OPEC and non-OPEC producers prepare for an all-out price war, in a sudden U-turn from previous attempts to support the oil market as the new coronavirus hammers global demand.

″$20 oil in 2020 is coming,” Ali Khedery, formerly Exxon’s senior Middle East advisor and now CEO of U.S.-based strategy firm Dragoman Ventures, wrote Sunday on Twitter. “Huge geopolitical implications. Timely stimulus for net consumers. Catastrophic for failed/failing petro-kleptocracies Iraq, Iran, etc - may prove existential 1-2 punch when paired with COVI

knowing the middle east, this should cause a war or 2..........jeez
 
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bishqqq

bishqqq

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there could be a domino effect.......allot of banks in the southwest, loaned a TON of money to the oil related companies.......who were already struggling, may start defaulting on loans this summer. I would not be buying any banks- finance companies stock etc. , from this area ( texas, okla. louisiana )
 
bishqqq

bishqqq

EOG Addicted
from a tweet i saw...6 hrs. old........."Mark Fisher tells me oil indicated to open below $32 a barrel tomorrow - a stunning $9.50 below where it closed on Friday. Sounds like it’s full on bananas in the oil markets... Have to watch high-yield and the banks." ...........Fischer is a famous oil trader...........$32 ???......that's hard to believe.
 
railbird

railbird

EOG Master
1st responder is a lame phrase manufactured by George Bush jr. All the 911 pigs did was stand around and watch fireman run in circles. they are all out of shape too, compared to Socal guys. Real 1st responders dont wear uniforms.
 
DotPark

DotPark

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railbird said:
1st responder is a lame phrase manufactured by George Bush jr. All the 911 pigs did was stand around and watch fireman run in circles. they are all out of shape too, compared to Socal guys. Real 1st responders dont wear uniforms.
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You truly are a piece of shit.

If I ever see you, I'd knock you the fuck out.
 
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jimmythegreek

jimmythegreek

The opening odds start here
Nevermind the crude. Futures themselves are down nearly a thousand points or nearly 4%. This "correction", especially in foreign markets is flirting with, if not already in recession. Unless you're in it for the long haul and even those who are having second thoughts, retirement savings are disappearing like Japanese liquifaction from '11.
 
bishqqq

bishqqq

EOG Addicted
this is not good...............a very black monday for sure.........maybe historic...........hope i'm wrong !
 
WildBill

WildBill

2
jimmythegreek said:
Nevermind the crude. Futures themselves are down nearly a thousand points or nearly 4%. This "correction", especially in foreign markets is flirting with, if not already in recession. Unless you're in it for the long haul and even those who are having second thoughts, retirement savings are disappearing like Japanese liquifaction from '11.
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Long long way until people will have lost retirement savings. If someone didn't open a statement with balances in 2019 they wouldn't be too concerned. Deflated bubble is all we have seen so far. Recession is pretty much a certainty because of the reaction to the virus and the trade war, but doesn't look like a real big one unless some leaders act dumb.
 
jimmythegreek

jimmythegreek

The opening odds start here
WildBill said:
Long long way until people will have lost retirement savings. If someone didn't open a statement with balances in 2019 they wouldn't be too concerned. Deflated bubble is all we have seen so far. Recession is pretty much a certainty because of the reaction to the virus and the trade war, but doesn't look like a real big one unless some leaders act dumb.
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So I shouldn't pay attention to a 20% decline even at a low risk over a 2 week stretch? I might as well have pounded Prairie View or Southern Utah for 5 regular seasons straight.
 
mr merlin

mr merlin

EOG Master
The saudi's are gonna shove it up putins ass for not cutting, with worldwide oil demand in free fall because of corona virus, it'll be $15 soon. i guess that's good for a lot of people.
 
WildBill

WildBill

2
mr merlin said:
The saudi's are gonna shove it up putins ass for not cutting, with worldwide oil demand in free fall because of corona virus, it'll be $15 soon. i guess that's good for a lot of people.
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Couple decades ago that would have been good for the US but not any more. At $32 very little oil production is economically feasible, tons of layoffs are coming to the oil patch.
 
blueline

blueline

EOG Master
my order at a fast food drive-thru a couple of hours ago came out to $6.66 is that a sign of something
 
T

TEXED

EOG Veteran
Right now Crude Oil futures mkt is 29.93 down 11.63 for the night. S&P and NASDAQ futures are down the limit with trading halted. Down about 4.5%.
 
mr merlin

mr merlin

EOG Master
All the russians have to do is agree to cut production, like 5% of their production, being stubborn and watching oil prices get cut in half is insane. (they would lose half their revenue, and produce at a loss) far better to do what the saudi's want.
 
jimmythegreek

jimmythegreek

The opening odds start here
TEXED said:
Right now Crude Oil futures mkt is 29.93 down 11.63 for the night. S&P and NASDAQ futures are down the limit with trading halted. Down about 4.5%.
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To my knowledge futures have been shifting a lot more down constantly than up but are still changing every 10 minutes. When and where did you hear trading was halted?
 
WildBill

WildBill

2
jimmythegreek said:
So I shouldn't pay attention to a 20% decline even at a low risk over a 2 week stretch? I might as well have pounded Prairie View or Southern Utah for 5 regular seasons straight.
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SPX is down just 5.5% over last three months. Market got really frothy and has given that up in last few weeks. However if one is an investor with retirement savings they should have some diversity including bonds which would limit losses. I know this isn't how most people think, but perspective is important to have.
 
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