Society Corona - Stock Market thinktank

[Le Chat Noir]

Thought you fellas would find this hilarious and a little alarming

https://www.reuters.com/article/us-...s-big-short-on-shale-comes-good-idUSKCN21W0E7

Part of the article:

(Reuters) - Just like the street hustler turned commodities broker in the 1980s comedy “Trading Places” for which he named his twitter account, @WillRayValentin (BRV) is an outsider making waves in the world of energy stocks trading.

A petroleum engineer by background, BRV is a member of the ‘Energy Fintwit’ (EFT) community on Twitter made of oil industry insiders - engineers, geologists and former traders - who have gained notoriety and thousands of followers for their unabashed bearish tweets about the U.S. shale industry.

As U.S. crude oil prices halved in March under the weight of recession fears and a price war, many of the group’s members had a field day as their ‘shorts’ on U.S. shale companies - bets that their stock prices would fall - paid off.

BRV’s own trading account, which he shared with Reuters, showed he pocketed $4 million in just one week between March 9 and March 16.

Le Chat Noir
©

 

[Wild]

Thought you fellas would find this hilarious and a little alarming

Troll no more: Energy Twitter group's big short on shale comes good

Part of the article:

(Reuters) - Just like the street hustler turned commodities broker in the 1980s comedy “Trading Places” for which he named his twitter account, @WillRayValentin (BRV) is an outsider making waves in the world of energy stocks trading.

A petroleum engineer by background, BRV is a member of the ‘Energy Fintwit’ (EFT) community on Twitter made of oil industry insiders - engineers, geologists and former traders - who have gained notoriety and thousands of followers for their unabashed bearish tweets about the U.S. shale industry.

As U.S. crude oil prices halved in March under the weight of recession fears and a price war, many of the group’s members had a field day as their ‘shorts’ on U.S. shale companies - bets that their stock prices would fall - paid off.

BRV’s own trading account, which he shared with Reuters, showed he pocketed $4 million in just one week between March 9 and March 16.

Le Chat Noir
©

Billy Ray!!!

 

[Wild]

Up $200 so far today.

 

[Wild]

Bought 5 more shares of BA when it was down 4% earlier in the day.

 

[Rambo John J]

buying precious metals
prices starting to rise

so much winning

no longer interested in hypothetical assets

so much winning

not my images, fingers, or coins

 

[ThatOneDude]

@Le Chat Noir do you understand this whole cup with a handle or saucer thing when it pertains to stock charts?

 

[ThatOneDude]

Ok, little bit of a wtf moment going on. I purchased CHK for like 18 cents, I mention it in this thread. I wake up this morning, I have no shares of CHK, and its now worth 20 something dollars a share....What, the, fuck.

 

[ThatOneDude]

apparently they did a reverse stock split, 1 for 200.

 

[ThatOneDude]

I just put in a limit buy for CHEF and BLMN. Lets see how they do today. I think they are going to be on the upswing.

 

[Hauler]

apparently they did a reverse stock split, 1 for 200.

That's never good.

 

[ThatOneDude]

That's never good.

No, I bought it because it was so low and showed it had higher prices in the past. Over all it was a cheap lesson learned. It was a bad buy all around. It even said so in the first few pages of one of the books I am reading.

 

[Hauler]

No, I bought it because it was so low and showed it had higher prices in the past. Over all it was a cheap lesson learned. It was a bad buy all around. It even said so in the first few pages of one of the books I am reading.

I've learned plenty of those lessons along the way.

 

[Le Chat Noir]

@Le Chat Noir do you understand this whole cup with a handle or saucer thing when it pertains to stock charts?

Basically it's when a stock is trending upward (bullish) and then takes a small bowl shaped dip as people sell off a portion, rises and then a smaller dip, the handle, before continuing upward again. The buy should be as the handle moves back to equal with the top of the cup.

Here is a more in depth explanation:
Cup and Handle

Le Chat Noir
©

 

[ThatOneDude]

Well those buys executed rather quickly....

 

[ThatOneDude]

Basically it's when a stock is trending upward (bullish) and then takes a small bowl shaped dip as people sell off a portion, rises and then a smaller dip, the handle, before continuing upward again. The buy should be as the handle moves back to equal with the top of the cup.

Here is a more in depth explanation:
Cup and Handle

Le Chat Noir
©

You're the man, thanks for explaining that

 

[Hauler]

Oil at $20

It's hit $19.50 today, bounced a bit.

34 million barrels in storage. No place left to put it. Russia and Saudis still cranking it out. Nightmare situation for drillers.

 

[Judobill]

Oil at $20

It's hit $19.50 today, bounced a bit.

34 million barrels in storage. No place left to put it. Russia and Saudis still cranking it out. Nightmare situation for drillers.

It’s $1.00 per gallon at the station near my house. I can’t remember seeing it that low in decades.

 

[Hauler]

It’s $1.00 per gallon at the station near my house. I can’t remember seeing it that low in decades.

And $0.18 of that goes to the Fed, and the average state tax is around $0.30

Not much left over for profit-taking.

 

[ThatOneDude]

It’s $1.00 per gallon at the station near my house. I can’t remember seeing it that low in decades.

I haven't filled up in close to a month. Maybe I need to

 

[Wild]

I haven't filled up in close to a month. Maybe I need to

Filled my POS Dodge Ram up yesterday for $40. It was euphoric.

 

[ThatOneDude]

I just checked gas prices for my area. Looks like reg is $1.48 and 93 is $2

 

[Wild]

@Hauler - you looking to buy more BA? What price would you be looking for?

 

[Hauler]

@Hauler - you looking to buy more BA? What price would you be looking for?

I'm watching it. Anywhere in here I think is safe. It just depends on how low you think it will go.

They had their own issues even before Covid, so there is that to consider. But investors love Boeing, and I don't think it goes too much lower than this before people start gobbling it up.

I don't know that $120 gets tested again, but if it does I'm probably gonna think pretty hard about grabbing more.

 

[Wild]

I'm watching it. Anywhere in here I think is safe. It just depends on how low you think it will go.

They had their own issues even before Covid, so there is that to consider. But investors love Boeing, and I don't think it goes too much lower than this before people start gobbling it up.

I don't know that $120 gets tested again, but if it does I'm probably gonna think pretty hard about grabbing more.

Do you know when they report earnings?

 

[Hauler]

Do you know when they report earnings?

Next week 4/22