@MihkelRdpp, Hey Mihkel, sorry for the late reply. I never saw your note. Ever since the COVID-19 pandemic shut down economies worldwide, the demand for oil has plunged to all-time lows. As a result, oil futures tanked. They even went into negative numbers. It was purely panic and the prices have since returned, but the outlook is not good for oil.
danielgwatkin
⋅
What do you think we can do with this to make some money?
jpbrown1023
⋅
@danielgwatkin, honestly I think this is another catalyst that will contribute to further selling in all markets worldwide. Think about how many businesses and jobs globally will be affected by the plunge in oil prices. Big losses, lots of layoffs. I'm shorting all the major indicies here in the US. I will be looking to load up on precious metals though. They're a good hedge against the dollar and with the Fed printing trillions of dollars in stimulus, it bodes well for gold/silver/etc.