If you want to be bullish in the face of a historic depression-like business environment, stick to stocks. At least in stocks it's all paper and the Fed (so far) has managed to levitate everything with a money flood. But the oil market is real. The Fed cannot create additional oil storage out of thin air with a well timed announcement.
Onepunchgarou
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@MystryBox, Seriously, in the face of unprecedented demand destruction and rapidly filling storage facilities, how would oil rise at all in the long run?
MystryBox
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@popovica, eventually there will be production cutbacks, bankruptcies, etc that reduce supply. Or maybe the stock market bulls are right and they'll reopen the economy and everything will instantly be normal again.
Onepunchgarou
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@MystryBox, I agree 100% with you but for now supply still remains much larger than demand and will probably remain that way for several more weeks. Even if the economy does bounce back in a V-shape, oil prices might stay suppressed due to all the storage
MrRenev
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Stop it. Get some help.
I'm not sure what you are doing & what those disgusting lines are but I think the MJ message still applies.
These conditions are different than usual. Alot of pros are getting rekt. Alot call it difficult idk maybe it is more difficult for most. Different for sure.
Strategies from just 2 months ago don't work anymore. Don't forget to reduce position sizes when volatility is *10, and when you see different conditions if you cannot adapt just take some holidays.
No idea if you were profitable before but either way those troubled times are when traders get wiped out the most.
mikhail_bobrov
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200,000 RobinHood users bought USO, they are waiting for oil prices to go up... unfortunately market always plays against the crowd, too many bulls in oil.