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BStowers023

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well that opec meeting today went well lol. Currently world is consuming 2 million less barrels then we produce, IRAN pledges to boost production up 1 million barrels a day, and Saudi's continue to boost production.

 

USO 52 week LOW

 

I guess either lambo next year or no toy. I've just bought another 2k share.

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Ended up panning out better than I expected. Got premium for $2.29/gal which was only $0.60 more than premium. Way better than the local $2.80+, and the station is only ~20 minutes away so not too bad of a drive to get it.

 

Finally, a place to get decent premium. Paid $2.13/gal today. It's well worth the 20 minute drive to save $0.75+/gal.

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USO is down to $11.18....thoughts on buying 1-2k? I'm fine holding it for a year...is it going to hit $10.xx?

 

Im personally waiting until 10/10.50 as an entry point but for only 1-2k waiting for another .50 cents doesnt really hurt you and you are atleast in the game.

 

I like the XLE better than USO, im stalking that one hard! Be patient and wait for the trend to turn instead of catching falling knives.

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anyone catch that 35 handle? :PPPPPPP

 

I know, right? :fuuuu:

 

The market, apparently, was just waiting for me to make a wager before running against me. :lolguy: I think I'm bout to be out $50.

 

If it keeps going like this, it won't be worth fighting for for much longer. Which might actually be a good thing.

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I like Scottrade. My ACH deposits usually take about 5 minutes to complete and be available for trading. Bought more USO this morning, I own a ridiculous amount of oil right now.

 

So you buying more tells me it's worth buying. 52 week high is like $23/share, so basically potential to double your money on a long term hold...minus taxes. Is it even worth making 1k minus taxes?

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So you buying more tells me it's worth buying. 52 week high is like $23/share, so basically potential to double your money on a long term hold...minus taxes. Is it even worth making 1k minus taxes?

 

You should have a decent understanding of the market, before tossing in some cash.

 

 

Just my advise...

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You should have a decent understanding of the market, before tossing in some cash.

 

 

Just my advise...

 

Definitely appreciated. In real estate, I jumped in head first with no market knowledge at the age of 21 and made a crap load of money. Sounds like that won't work as well in this case.

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So you buying more tells me it's worth buying. 52 week high is like $23/share, so basically potential to double your money on a long term hold...minus taxes. Is it even worth making 1k minus taxes?

 

I mean, I can never say what another person should or shouldn't buy. Is oil priced historically low? Yes. With time on my side do I have to worry less about prices going lower or "catching a falling knife"? Yes.

 

As far as if it is worth making $1000 minus taxes? I always like making money no matter how little, lol. Best of luck, and I hope you have fun with it, learn, and make money.

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ETF, exchange traded fund. just a group of stocks put together into a single fund to make it easier for you to get involved with investing without having to know what stocks your in specifically and follow each one. Diversification, etc is done for you by the fund managers if they any good.

 

Important to make sure your getting the best deal you can find on funds as not all are the same, some will have high maint fees that the guy selling it to you will sometimes like to hide in the details.

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Tractor is correct, USO is an ETF that tries to match the price changes of the West Texas Intermediate Crude spot price. They do it by buying futures contracts, other types of oil, natural gas, gasoline, etc...

 

Here are a couple of good explanatory links for you.

 

http://www.investopedia.com/terms/e/etf.asp

 

http://www.nasdaq.com/etfs/what-are-ETFs.aspx

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One thing I will say about buying oil now, imo, is that you have to look at it like it is a bank CD. If you have cash that you would otherwise put into a CD at the bank and not use for the next 2-5 years, I am all for putting it in oil right now. If you have money that you will need to use in the next 1-2 years or less, buying oil will entail some risk for you. This is how I am looking at it anyways.
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