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Oil down 20% this weekend
Old 03-08-2020, 06:26 PM   #1
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Oil down 20% this weekend

Russia and Saudi Arabia squabbling. Monday will be another wild one.
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Old 03-08-2020, 06:32 PM   #2
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I have been alternating year to year between a long trip in Europe and a long RV domestic trip. This year 2020 was scheduled for RV'ing.

All right! Have cheap gas, will travel.
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Old 03-08-2020, 06:34 PM   #3
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I have been alternating year to year between a long trip in Europe and a long RV domestic trip. This year 2020 was scheduled for RV'ing.

All right! Have cheap gas, will travel.
Hope you have hand wipes for the pump handles.
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Old 03-08-2020, 06:37 PM   #4
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I will need to search the Web to see if gasoline kills viruses.
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Old 03-08-2020, 06:39 PM   #5
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I will need to search the Web to see if gasoline kills viruses.
I would think that it would, easily.
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Old 03-08-2020, 06:47 PM   #6
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I would think that it would, easily.
Even when it is not set on fire?
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Old 03-08-2020, 06:48 PM   #7
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I will need to search the Web to see if gasoline kills viruses.
Just wear a glove while fueling.
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Old 03-08-2020, 06:48 PM   #8
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There goes my energy fund again. It's been a loser for years.
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Old 03-08-2020, 07:45 PM   #9
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Fascinating that Saudi Arabia has the reserve financials to kill Russia, one barrel-price-drop at at time, during a COVID19-driven depression of oil demand. Russia is utterly dependent on its petrochemical economy.
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Old 03-08-2020, 07:50 PM   #10
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I mentioned in another thread that I'm thinking about LEAP options on XOM - looking better in a few days I think.
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Old 03-08-2020, 07:54 PM   #11
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Even when it is not set on fire?
LOL!
Rubbing Alcohol >>> 90% alcohol rubs are more effective against viruses than most other forms of hand washing. Isopropyl alcohol will kill 99.99 % or more of all non-spore forming bacteria in less than 30 seconds, both in the laboratory and on human skin. Alcohol rub sanitizers kill most bacteria, and fungi, and stop some viruses.

but gasoline might be cheaper to use. Lol Being frugal is a hard habit to break. Lol
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Old 03-08-2020, 07:55 PM   #12
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Speaking of LEAF options, I remember in 2002 or 2003 buying a few contracts on an electronics part maker. I don't remember all the details such as the strike price in relation to the then current stock price, but the options were 2 years out and they still expired worthless.

The lesson I got from that was that things could be worse and take a longer time to recover than I thought.
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Old 03-08-2020, 07:57 PM   #13
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Let me add to the pile on tonight's action.....

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Dow futures plunge 1,000 points, crude prices tumble as fears of oil price war add to virus angst....
https://finance.yahoo.com/news/dow-f...234211153.html
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Old 03-08-2020, 07:58 PM   #14
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Speaking of disinfectants, I will not go anywhere without my vial of bleach. Beats alcohol, Purell, gasoline, vinegar, Tabasco sauce, or anything else out there. And it's dirt cheap too.
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Old 03-08-2020, 08:05 PM   #15
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aja8888 >>> Yah, that is not good news. I'm in a IRA rollover to another company so it will set me back but hoping now to buy back in markets at lower share prices.

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Yes, bleach is as good as it gets, I forgot to mention.
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Old 03-08-2020, 09:00 PM   #16
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Oh Oh, the futures for the DOW, S&P 500 and NASDAQ are nearly 5% down at 11 PM on the east coast. Mon is going to be an interesting day indeed.
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Old 03-08-2020, 09:58 PM   #17
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As I have stated many times over years on this forum, avoid the energy sector as it is in a secular bear market. People think this sector will rebound like it did in the early 2000's. It won't. Many of these companies had pristine balance sheets in the late 90's and early 2000's. But with low interest rates, the energy sector went on a debt issuance binge and did stupid things with debt like buy back stock, invest in mega capital projects with very low projected ROI, and pay dividends that could not be supported by free cash flow. The oil service sector is completely wiped out. The major oil companies like Exxon and Chevron are facing declining demand with a glut of supply. That won't change anytime soon.


Just my perspective as a bond investor who actually looks at income statements and balance sheets.
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Old 03-08-2020, 10:24 PM   #18
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Just wear a glove while fueling.
DH does anyway because that gasoline stinks!
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Old 03-09-2020, 12:26 AM   #19
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DH does anyway because that gasoline stinks!
One of the reasons I went electric. Great to not smell that anymore.
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Old 03-09-2020, 02:05 AM   #20
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Crude oil down 28%.

Australian share market closed down 7.33% which is it second worst ever performance.

All driven by irrational behaviour but it is the correction the market needed to have.
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