Long Position on Silver and Gold?

[whitewalrus]

I?m trickling into ERX as its down huge. It doesn?t have to get back to normal levels to make a little $ at this point.

Why not get into a non leveraged fund? You will pay for the leverage until the market goes back up. Leveraged funds are typically used for short term trades.

[MrPrena]

There is a video here on tanker storage

https://www.bloomberg.com/quote/CL1:COM

I didn't watch it yet.

Thanks. Also read seeking alpha with interesting article and storage as well.

[Sawin]

Why not get into a non leveraged fund? You will pay for the leverage until the market goes back up. Leveraged funds are typically used for short term trades.

Yep, and it’s gone up 57.08% in the last month. I agree levered funds are best for a short term, tactical position for sure.

[MrPrena]

Yep, and it?s gone up 57.08% in the last month. I agree levered funds are best for a short term, tactical position for sure.

I accidentally forgot to dispose very small amount of DWT from many money market I opened for freebies. Had it for a while and it is not worth much (even when gas price went negative).
Yeah, as people said, those 2x 3x lev are for short run.

If I bought a regular inverse 1x, I would have made decent % by not disposing by an accident.

[MrPrena]

June Contract started trading!

Crude Oil Jun 20 (CL=F)
NY Mercantile - NY Mercantile Delayed Price. Currency in USD

10.57 -1.00 (-8.64%)
As of 12:17AM EDT. Market open.


Okay, June's Settlement date is 5/19. Supply* is given now. If demand isn't there, we might see another same/similar (but less crazy) stuff happening on 5/17-5/19.

* we know the estimate cuts (change in output, output, and storage, etc)

[MrPrena]

Although oil etf are up, I am totally unhappy with their performance. I am taking all the risk for little %.
I am going to find a better etf than USO/USL /DBO etc.


Worst freaking case, I am opening a commodity account.

[earplug]

Oil and copper were both down and hurting prior to COVID19. Both are basic building blocks of a a solid global economy. Check the BALTIC index past freight prices for what the economy was prior to the virus.
COVID19 was a head shot after a double tap to the body. Recall the trade war, tariffs and various currency issues?

[roberth]

Oil is on the way up.

WTI on the $32 handle, Brent on the $35 handle.

[MrPrena]

Yup. Tomorrow would be the last day of June contract. Tomorrow would be very interesting. My guess is it has a higher probability of being lower.

[MrPrena]

I was about to hold uso for a year.
I was expecting 100 to 180% in 12mo, but going to take the $$ and run.

MARKET PULSE
USO says it may have to hold larger amounts of Treasurys and cash
By Steve Goldstein
Published: May 26, 2020 6:24 am ET

https://www.marketwatch.com/amp/stor...6-9107729667CA