Long Position on Silver and Gold?

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Originally Posted by roberth

http://www.wsj.com/articles/opec-dea...und-1480481281

https://www.bloomberg.com/energy

Pump price will go up. Maybe we'll see a jump in domestic oil activity.

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We have 3 rigs by our house at this moment. One is freaking loud too.....

I saw the headline about oil going up, and as always, I'm like "Shit. Higher pump price" but at the same time up in Weld county we have so many rough necks that it would be good to see them working again. It seemed like it only slowed production and didn't stop it completely.


Sounds like OPEC's plan to bankrupt the U.S oil companies hasn't work'd and they figured they'd try to drive the price up a bit.

Quote:

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Originally Posted by bryjcom

We have 3 rigs by our house at this moment. One is freaking loud too.....

I saw the headline about oil going up, and as always, I'm like "Shit. Higher pump price" but at the same time up in Weld county we have so many rough necks that it would be good to see them working again. It seemed like it only slowed production and didn't stop it completely.

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Always a trade off.

Quote:

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Originally Posted by bryjcom

Sounds like OPEC's plan to bankrupt the U.S oil companies hasn't work'd and they figured they'd try to drive the price up a bit.

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The Sauds have to pay for their Yemen excursion, Daesh, their ongoing conflict with Iran, problem is that they're putting money in the pockets of their enemies too.

The US has been a net exporter of petroleum products since 2011. Our biggest recipients? Canada (20% of total exported petroleum products), Mexico (15%), Netherlands (5%), China (4%), and Brazil (4%), in that order.

We export more than 5 million barrels a day. I'm not too worried about the pump prices.

Oil is up due to winter demand. DOW broke the 19,000 barrier. It is just the math of supply and demand.

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Originally Posted by BushMasterBoy

Oil is up due to winter demand. DOW broke the 19,000 barrier. It is just the math of supply and demand.

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OPEC just voted to reduce the future global supply, of course it will take a period of time to clear the current glut.

Quote:

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Originally Posted by BushMasterBoy

Oil is up due to winter demand. DOW broke the 19,000 barrier. It is just the math of supply and demand.

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The DOW and oil are up due to winning. Non stop November winning. Are you tired of winning yet?

Get ready for more winning...

http://www.bloomberg.com/news/articl...t-every-sector


Yes, I'm sensing some bull propaganda too. I think the market will need to adjust to Trump and market rates but we'll have to wait to see how that shakes out.

Strongest dollar since 2009 too. WINNING!

Side note... Gold is not winning today and I suspect there will be some buying opportunities in Dec/Jan. If Trump is sincere in trying to peg the dollar to gold (or PMs, an impossible task IMHO) we might see a bump after the inauguration just on speculation alone.

DOW is approaching 20K, I guess they're calling it the Trump Bump. Oil was climbing but stalled at $55 a barrel. Gold is under $1150, silver is close to $16, both are up today. 10-year Treasury Note down to 2.57, was over 2.60 earlier this morning - http://www.marketwatch.com/investing...countrycode=bx.

the DOW broke 19,000 on 11-30-16 and today it broke 20,000 for the first time. It's been a lot of fun watching the 457 climb at such a fast pace. Winning is fun.[Beer]

Bush's fault ;)

Market is down...Trump's fault. Market is up...Trump's fault.

Having a President that isn't a wishy-washy wimp....Trump's fault.