O&G guys: Oil is mooning this morning

[quickfeet]

So much for the release of the strategic reserve driving down prices. What is the word out in Texas/Oklahoma?

 

[Landjeff]

Nice to see it rebound and hope it soon reaches $150/BO. Not receiving much work but am enjoying higher royalty checks.

That said, tell me about your avatar? Why you doing ladder drills?

 

[quickfeet]

Nice to see it rebound and hope it soon reaches $150/BO. Not receiving much work but am enjoying higher royalty checks.

That said, tell me about your avatar? Why you doing ladder drills?

Just helps keep my feet quick (but really its just an image I found when I googled quick feet)

 

[BurntJ]

Just helps keep my feet quick (but really its just an image I found when I googled quick feet)

Just further proof you have the quickest feet on this site! Keep up the good work bro!

 

[Landjeff]

Just helps keep my feet quick (but really its just an image I found when I googled quick feet)

My son (8th grade) is an expert ladder drill kid. Great at cones as well. Would be nice if all the work (And $$$) would translate to better on field performance. It has definitely increased his speed though.

 

[quickfeet]

My son (8th grade) is an expert ladder drill kid. Great at cones as well. Would be nice if all the work (And $$$) would translate to better on field performance. It has definitely increased his speed though.

The full story is back in high school was when the Dance dance Revolution game came out. We went to the arcade one time and we saw it. I hopped on and everyone was like “damn you got some quick feet”! Also I was always pretty good at the agility stuff playing sports like the ladder drill

 

[quickfeet]

Just further proof you have the quickest feet on this site! Keep up the good work bro!

Thanks bro. But be prepared to have your beloved 1980 leave ATL with an L saturday

 

[BurntJ]

Thanks bro. But be prepared to have your beloved 1980 leave ATL with an L saturday

Whoa…..talk about a punch to the nuts. I never expected this from you…I would expect this from @TJHall1

SAD!

 

[quickfeet]

Whoa…..talk about a punch to the nuts. I never expected this for……I would expect this from @TJHall1

SAD!

It just means more this week

 

[TJHall1]

Whoa…..talk about a punch to the nuts. I never expected this for……I would expect this from @TJHall1

SAD!

Fucks sake, at least be coherent if you're gonna tag me.

 

[BurntJ]

Fucks sake, at least be coherent if you're gonna tag me.

I’m not sure I’m sober yet.

 

[Jtrain80]

So much for the release of the strategic reserve driving down prices. What is the word out in Texas/Oklahoma?

Hiring like crazy. It's not coming down soon.

 

[quickfeet]

Hiring like crazy. It's not coming down soon.

I almost tagged you but I wasn't 100% sure if I had the right poster

 

[TJHall1]

Hiring like crazy. It's not coming down soon.

Hire me.

 

[quickfeet]

Well we had a good run

 

[ChicagoFats]

Well we had a good run

Omicron variant is bullshit. This will be an afterthought in a couple months.

 

[Sikness23245]

The full story is back in high school was when the Dance dance Revolution game came out. We went to the arcade one time and we saw it. I hopped on and everyone was like “damn you got some quick feet”! Also I was always pretty good at the agility stuff playing sports like the ladder drill

Never knew we had an actual legend on the board.

 

[quickfeet]

Never knew we had an actual legend on the board.

That's pretty much it right there

 

[quickfeet]

Omicron variant is bullshit. This will be an afterthought in a couple months.

As in big rebound incoming?

 

[Rebarcock.]

Omicron variant is bullshit. This will be an afterthought in a couple months.

None of them have been as bad as made out really

 

[Rebarcock.]

As in big rebound incoming?

A judge,congress or new president could snap their fingers and fix this mess

 

[shiv]

A judge,congress or new president could snap their fingers and fix this mess

What's the steel world looking like right now?

 

[ChicagoFats]

As in big rebound incoming?

I continue to like oil here at $66/bbl. As long as democrats are in control you have to be long oil.

Long term it is too much of a necessity and its not going away as an energy source during the next 20 years or so.

 

[Jtrain80]

Hire me.

You are closer to the Bakken in ND.

Winter is coming up though. Fuck that.

 

[Rebarcock.]

What's the steel world looking like right now?

Slight plateau but December has alway been preventative maintenence months. Unless there is a boom. Markets are string but some normal beams are scarce which we hope is an anomaly rather than an indicator. Some experts see pricing declining per ton(not sheet cold or hot) i disagree. I hope I am wrong but I see Bidenflation causing incredible price increases. My issue may be keeping labor wages adequate.


Sorry had been around yall. Crazy times w fam

 

[GarnetPild]

Never knew we had an actual legend on the board.

That's pretty much it right there

 

[MortgageHorn]

So much for the release of the strategic reserve driving down prices. What is the word out in Texas/Oklahoma?

OU Sucks is The Word Out of Texas

 

[ChicagoFats]

Oil up 5% this morning and trading $68.5 per barrel

Oil trading in correlation with other risk assets like the stock market as a whole. This tells me that sell off was related to Omnicron variant and lets face it the people of the world will not allow any more lockdowns.

We were told from the very beginning that Viruses mutate and when they do they become weaker. So im not buying any omnicron bullshit. keep buying oil until dems are out of office.

 

[ChicagoFats]

Oil following the broad trends of the general markets. Trading about $71.25 a barrel for the March futures contract which is up~5% since last posting which is about the same as the S&P 500.

ChicagoFats continues to be bullish on oil as the corona virus fades away and people return to more normal travel schedules. While travel demand may continue to recover it will take a while to get back to pre-pandemic levels.

SnP 500 = 4690
Oil = 71.5

 

[Jtrain80]

Oil following the broad trends of the general markets. Trading about $71.25 a barrel for the March futures contract which is up~5% since last posting which is about the same as the S&P 500.

ChicagoFats continues to be bullish on oil as the corona virus fades away and people return to more normal travel schedules. While travel demand may continue to recover it will take a while to get back to pre-pandemic levels.

SnP 500 = 4690
Oil = 71.5

Does your analysis take into acct the inventory levels? DUC's? Rig counts etc.

 

[ChicagoFats]

Does your analysis take into acct the inventory levels? DUC's? Rig counts etc.

No, i trade or pay attention more to macro-economic trends. Its just my personal hunch, which i understand is not worth much more than other peoples opinion.

There are certainly people who focus on the micro trends and developments such as rig counts, inventory levels etc.

Personally i feel like the macro trends of inlfation, corona, easy money policy have much more influence over the markets right now than the micro economic factors.

Oil kind of reminds me of the housing markets going back to say 2008 or so. The housing market imploded and supply was rampant. Kind of like Oil during Corona. There was no travel and so spot oil just got hammered.

Fast forward a few years and there is a severe under supply of housing, quite possible because we over corrected after the real estate crash in 2011 or so. Did oil similarly over correct?

 

[ChicagoFats]

And just like that an article appears on Zerohedge saying the same exact thing i just said. For the record their post is 2 minutes ahead of the post i made above. But i did not see it before writing my post.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[shiv]

Oil up 5% this morning and trading $68.5 per barrel

Oil trading in correlation with other risk assets like the stock market as a whole. This tells me that sell off was related to Omnicron variant and lets face it the people of the world will not allow any more lockdowns.

We were told from the very beginning that Viruses mutate and when they do they become weaker. So im not buying any omnicron bullshit. keep buying oil until dems are out of office.

What are you trading oil related?

 

[ChicagoFats]

What are you trading oil related?

Any tool will work. Depending on my trading theory i will use

Oil Futures - on Ameritrade the symbol is "/CLH22" - (Crude light March 2022 expiration)

Oil ETF - symbol "VDE" - a vanguard ETF that is seemingly a little less volatile than oil spot prices. Its made up of companies that produce the oil like Exxon etc.

Oil ETF - USO - tracks the spot price of WTI.

A long time ago, maybe 10-15 years ago, i made some money on the difference in price between the light crude and the heavy crude spread. It had expanded out to historical width and eventually came back to norms.

I don't have any trading theory's on oil right now other than i want to be long it. I think there have been years of under investment and political interruption in the markets that have artificially depressed the price. Medium to long term bullish. Hell, even short term bullish. I don't think the people will take any more shutdowns and that is from a global perspective. I think global demand steadily increases and if any cure or effective treatment for Covid and you could see an explosion in travel.

 

[shiv]

Any tool will work. Depending on my trading theory i will use

Oil Futures - on Ameritrade the symbol is "/CLH22" - (Crude light March 2022 expiration)

Oil ETF - symbol "VDE" - a vanguard ETF that is seemingly a little less volatile than oil spot prices. Its made up of companies that produce the oil like Exxon etc.

Oil ETF - USO - tracks the spot price of WTI.

A long time ago, maybe 10-15 years ago, i made some money on the difference in price between the light crude and the heavy crude spread. It had expanded out to historical width and eventually came back to norms.

I don't have any trading theory's on oil right now other than i want to be long it. I think there have been years of under investment and political interruption in the markets that have artificially depressed the price. Medium to long term bullish. Hell, even short term bullish. I don't think the people will take any more shutdowns and that is from a global perspective. I think global demand steadily increases and if any cure or effective treatment for Covid and you could see an explosion in travel.

When you say tool do you just mean like an investment vehicle right?

If I remember correctly, I thought USO was more of a short term swing trade thing. I can't remember specifics on that though

 

[ChicagoFats]

When you say tool do you just mean like an investment vehicle right?

If I remember correctly, I thought USO was more of a short term swing trade thing. I can't remember specifics on that though

Yeah, like a trading or investment vehicle.

Sometimes you can take advantage of an idea with stocks etc. Other times you have to buy the physical product.

Im still a huge proponent of Real Estate right now. Best hedge against inflation. I do suppose it will cool off at some point in the future but probably not until they raise interest rates which is still a ways off.

 

[America 1st]

Nice avatar @quickfeet

 

[ChicagoFats]

JP morgan says oil could reach $125 barrel of oil next year because OPEC does not have the capability to boost production high enough to counter anticipated demand. Basically, they are not investing enough in Oil right now as we were talking above.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com