Our Economy is a Dead Man Walking

Murdering the economy is exactly what the leftists voted for

originally posted by: Bluntone22
a reply to: carewemust

Dead pipelines and the coming environmental regulations and carbon taxes will make today’s cheap gas a memory.

2020 was the first year America didn't import a single drop of oil from Saudi Arabia. You'd think the Biden Administration would want America to maintain our self-sufficiency.

If the new Administration's goal is to Make America Dependent Again (MADA), I hope they are stopped before its too late.

In a nutshell, that's why I don't bother much with options trading.

originally posted by: CriticalStinker
a reply to: olaru12

It was fun to watch all the people thinking they'd get free money speculating oil futures when prices were negative though.

The futures contract dictates you have to pick up the oil on _______ date. Those playing musical chairs had a rude awakening when they couldn't offload the contract and had to pick up the oil in Oklahoma.

Almost as funny as the guy who lost his ass gambling on ornamental gourd futures.

a reply to: FamCore

Driving around one of the biggest cities in the US, on a weekday at 5:30pm..

Looking into all the businesses - Restaurants, shops, stores.. all almost completely empty. In certain areas, it was an ocean of people; now very sparse.. one of the biggest cities in the world. Its breathtaking.. unbelievable.

The last few places hanging on, I suspect will eventually close.

originally posted by: Morbidlynx
In a nutshell, that's why I don't bother much with options trading.

originally posted by: CriticalStinker
a reply to: olaru12

It was fun to watch all the people thinking they'd get free money speculating oil futures when prices were negative though.

The futures contract dictates you have to pick up the oil on _______ date. Those playing musical chairs had a rude awakening when they couldn't offload the contract and had to pick up the oil in Oklahoma.

Almost as funny as the guy who lost his ass gambling on ornamental gourd futures.

Options are different than futures.

The caveat is if you ride it to expiration, and are in the money, you may still be asked to exercise the shares... But most brokers would spot you long enough to exercise and sell.

You still need to know what you're doing, but it's far less risk than (some) futures IMO. Typically you're just risking the premium paid.

You are correct. I guess I should have clarified that I'm a long term investor that uses it more like a very high yield savings account that I have to manage myself. I don't enjoy watching or checking it every day. I pop in once a week, make my transactions, and then set my stop loss sales. Since I started I'm up about 40%, so I'm quite happy with that. It's better than the average so I can't complain. That doesn't include the dividend payments that get reinvested once I accrue enough.

originally posted by: CriticalStinker

originally posted by: Morbidlynx
In a nutshell, that's why I don't bother much with options trading.

originally posted by: CriticalStinker
a reply to: olaru12

It was fun to watch all the people thinking they'd get free money speculating oil futures when prices were negative though.

The futures contract dictates you have to pick up the oil on _______ date. Those playing musical chairs had a rude awakening when they couldn't offload the contract and had to pick up the oil in Oklahoma.

Almost as funny as the guy who lost his ass gambling on ornamental gourd futures.

Options are different than futures.

The caveat is if you ride it to expiration, and are in the money, you may still be asked to exercise the shares... But most brokers would spot you long enough to exercise and sell.

You still need to know what you're doing, but it's far less risk than (some) futures IMO. Typically you're just risking the premium paid.

a reply to: Morbidlynx

I'm a fluid trader changing my style all the time.

I'm very aggressive, but also in my low thirties, so I can afford to be.

Once I hit a number, I'll likely do a style closer to yours.

originally posted by: carewemust
2020 was the first year America didn't import a single drop of oil from Saudi Arabia.

You just make that up?

I'm roughly the same age but every refund check I received and any "disposable income" I found since I was sixteen was placed into this. At one point I had to argue with the IRS that they owed me funds based on my refunds that were uncashed and won(despite being beyond the maximum date of "validity"). While foolish at the time I had used those checks as a savings account until I was 25-28. Granted they had zero yield but it was money I couldn't touch until it was important. Now I'm at a point where due to covid and investments I've essentially retired.

Sadly I would love to work currently and god I miss it. But the whole covid situation and my father being elderly and to be honest very frail has left me with at the best the ability to work a part time job. I can't leave him for more than four hours, maybe a little longer. As his only living relative that gives a damn I can't justify putting him in a home. He deserves good food and somebody that genuinely cares about his needs. As the youngest direct child of his I feel the responsibility to ensure he's cared for. He taught me to read and gave me a love for science, when I was young he gave me a subscription to Scientific American. I owe everything I am to him. I am a child of the MIC. He did what he did to make a living. He worked on the HAARP array and the WARLOCK systems. I might be wandering a bit but I feel like it's relevant to my motivations. Also, you don't appreciate love until you clean their bedpans.

originally posted by: CriticalStinker
a reply to: Morbidlynx

I'm a fluid trader changing my style all the time.

I'm very aggressive, but also in my low thirties, so I can afford to be.

Once I hit a number, I'll likely do a style closer to yours.

:

a reply to: Morbidlynx

I'm sorry to hear that man, and thanks for sharing. I find myself forgetting the situations many are in right now.

It's been absolute madness for a while now with no signs of letting up.

I had a humbling wake up when my family in Texas told me about the power outages there with freezing Temps. Not a good region for that to happen as people are ill prepared.

Just make sure your money is going to be safe in a crash type situation, or at least hedged. I have a feeling we're all playing musical chairs, and the music is about to stop.

Sadly I think you're right. I doubt the explosive growth of the market can continue at this pace. Somebody's going to be left holding the bag and I guarantee it wont be the big hedge funds. One of my weekly stock routines is going through and setting new stop loss orders for everything to lock in whatever gains there might be. Worst case scenario everything will be sold off and held to rebuy again at the bottom.

The power outages are crazy to hear about. It's surprising that so little foresight was allowed with the situation that has developed. Fortunately here the utility actually earns their money as far as I've seen I regularly see them maintaining lines and servicing poles. The longest blackout was less than a day and it was after straight line winds blew through and knocked trees down over the main road and destroyed a lot of property on the peninsula. Otherwise its been maybe a 2 hours outage at max and infrequently. Pepco back where I grew up was notoriously incompetent at times. I remember as a kid having a outage during a hundred degree summer that lasted for a week.

One day hopefully things will return to normal. It's hard to hit on the cute girls at the grocery store when everybody has to wear a face mask. I've started thinking covid pickup lines might have to become a thing.

originally posted by: CriticalStinker
a reply to: Morbidlynx

I'm sorry to hear that man, and thanks for sharing. I find myself forgetting the situations many are in right now.

It's been absolute madness for a while now with no signs of letting up.

I had a humbling wake up when my family in Texas told me about the power outages there with freezing Temps. Not a good region for that to happen as people are ill prepared.

Just make sure your money is going to be safe in a crash type situation, or at least hedged. I have a feeling we're all playing musical chairs, and the music is about to stop.

originally posted by: Lumenari
I ended up with roughly 1,000 stocks at $42 each instead of collecting $20,000 for that year.

Awesome, right? They even sent me a cool embossed framed piece of paper that said I owned 1,000 stocks!

Then one weekend in June of last year they bankrupted and I now own 1,000 stocks worth 18 cents each.

I probably should have just taken the money...

Or... just sold the stocks, and invested it elsewhere...

originally posted by: Morbidlynx
One of my weekly stock routines is going through and setting new stop loss orders for everything to lock in whatever gains there might be.

Good strategy, and works... to a point.

But in the event of a catastrophic crash, those stop losses may not work, as there may not be any buyers... anywhere...

originally posted by: nOraKat
a reply to: FamCore

Driving around one of the biggest cities in the US, on a weekday at 5:30pm..

Looking into all the businesses - Restaurants, shops, stores.. all almost completely empty. In certain areas, it was an ocean of people; now very sparse.. one of the biggest cities in the world. Its breathtaking.. unbelievable.

The last few places hanging on, I suspect will eventually close.

Not just large cities....

Some small towns in Texas are virtual ghost towns with no local business and not even a post office, no schools, nothing.
In middle sized towns, most businesses closed except for wall mart and homeless people everywhere.

creeping dystopia....