crude oil down

Discussion in 'Markets & Economies' started by clear, Nov 27, 2014.

  1. olifrated

    olifrated Active Member Silver Stacker

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    So when it reaches the bottom .... who / what companies do you buy ??
     
  2. sterling-nz

    sterling-nz Well-Known Member

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    Stuff the 20% (thats rolls of my fingers so easily being it is YOUR money)
    Oil will bounce back and your 20% will seem like nothing.
    Gold and silver can go down as they are NOT ESSENTIAL to life , OIL IS.
    Your money is safe , just bite your lip and soldier on (depending on what form you hold of course).
    I can GUARANTEE you oil will bounce back in the future, NOT something i would say for metals in the next few years.
    You made a bet and it will certainly pay off, i can not think of a single thing (other than doing the missus) that does not require oil somehow.
    Can you?
     
  3. -j-p-shmorgan

    -j-p-shmorgan New Member

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    Oil surplus. Why invest now?
     
  4. sterling-nz

    sterling-nz Well-Known Member

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    Because it will certainly go back up.
    Even if it does it $30 (which i personally doubt) the upside is far far greater.
    This is not like our gold and silver here JPm , this is the liquid of LIFE.
     
  5. SilverDJ

    SilverDJ Well-Known Member

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    That is precisely why I'm sitting on a lot of oil and am not worried that it's 10% down on my average buy now. I know it will come back.

    Correct. We are addicted to it, practically everyone and everything requires it every single day. Most countries have weeks or a few months of best stockpile supplies of it. Wars start over it.
    Anyone who doesn't have oil at these low prices is a fool.
    The other great thing about oil it that is always moments away from skyrocketing because of a political action, accident, or other panic.
    People say that about PM's too, but history has shown that basically never really happens, but it does so regularly as clockwork with oil.
     
  6. SilverDJ

    SilverDJ Well-Known Member

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    Because it's cheap, and will go back up.
    If you don't understand why then you don't understand how the world works and how addicted and reliant upon the stuff we are.
    If you are trying to pick the bottom at $30, good luck, that's usually not a good strategy.
     
  7. SilverDJ

    SilverDJ Well-Known Member

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    Easiest way to to simply buy the OOO ticker code on the ASX, it's an exchange traded fund that tracks the oil price. It is also hedged against the wild AUD
     
  8. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    This is what I don't understand, why oil price ever went down? We were supposed to have past peak oil production (supply/demand) over a decade ago if recall correctly. The is less oil to supply the world but world is using more of it. I think your right, the upside is going to be far far greater.
     
  9. sterling-nz

    sterling-nz Well-Known Member

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    My personal view is that the Saudi's have brought the price down in order to punish the USA.
    The USA may well say that it is to put pressure on the Russian economy, but from the start of the decline i have always thought it was punishment against the USA.
    With the "oil boom" in the USA this is a great way to stress and collapse a HUGGGGGGE chunk of the USA economy.
    We have already heard about the little oil companies in the USA going out of business due to the price drop and many more telling us how close they were to collapse after the price started heading up again NOW THAT WE ARE DOWN again i guess those companies are in the SH** again.
    I will have to check my records to remember what brought me to this conclusion, as it happened some time ago i have forgotten the specifics but remember my general view.
     
  10. SilverDJ

    SilverDJ Well-Known Member

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    On the surface oil is another commodity, and all commodities are rock bottom at present.
    But oil is course special, special enough to have wars started over it, and the oil price is as much a complex political smoke and mirrors games as it is based on actual supply and demand.
     
  11. billybob888

    billybob888 Well-Known Member Silver Stacker

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    Just bought my first "barrel of oil" today

    So watchout, further declines ahead
     
  12. SilverDJ

    SilverDJ Well-Known Member

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    Exchange traded fund?
     
  13. tolly_67

    tolly_67 Well-Known Member

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    Oil will keep going down and not because of some underhanded play. The OPEC nations are no different than our own government in the sense that they spend wayyyyyyyyy too much and as such have to fund the promises. They are locked into pumping at whatever the price or risk turmoil in their own land. It is simply bad governance. The demand for oil is weakening so look out low 30's.
     
  14. billybob888

    billybob888 Well-Known Member Silver Stacker

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    No i took physical delivery
     
  15. SilverDJ

    SilverDJ Well-Known Member

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    You guarding it Mad Max style?
     
  16. billybob888

    billybob888 Well-Known Member Silver Stacker

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    If you dont hold it, you dont own it
     
  17. SilverDJ

    SilverDJ Well-Known Member

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    Shit, I'm screwed :(
     
  18. billybob888

    billybob888 Well-Known Member Silver Stacker

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    Oh yes indeed
     
  19. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    A weekly close below $42.44 and it could be lights out
     
  20. SilverDJ

    SilverDJ Well-Known Member

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    What do you mean? It'll plummet after that?
    Becomes even more of a bargain!
     

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