I Became An Instantaneous Oil Futures Stock Trader This Afternoon At 2:30pm.
WOW! Talk about historic. Oil futures going BELOW $0.00. Oil prices, albeit in a futures contract, going below $0.00. Down to about -$32. Yes, MINUS $32.
Well, you don’t have to be Einstein to work out that they can’t be below $0.00 forever. Right?
Yes, short-term they might go down another $20. But, oil can’t stay below $0.00.
As some of you know I am a very active trader & investor. But, I have NEVER done oil before. Knew NOTHING about oil. 90% of what I do and what I have done is my sphere of experience/expertise high-tech. But, I am also uniquely equipped mentally & with the technology to do deep-dive research. And that is what I did. Flipped that magic-switch I have. Had my brain going in overdrive. Didn’t take long to work out what ETFs I needed to buy.
I had a fairly large stash of cash sitting on the sidelines just for an opportunity like this. SMILE. I pulled the trigger. No pussy-footing. I went in BIG. SMILE. V. BIG. Large trade. Now I am just going to sit back and wait. As oil demand comes back — as it has to FROM TODAY — I will be smiling even broader. This was insane.
So EASY. I am still smiling.