I don't see how we don't get some kind of a pullback. I guess retesting the lows is out of the question unless the virus takes a turn for the worst
I don't see how we don't get some kind of a pullback. I guess retesting the lows is out of the question unless the virus takes a turn for the worst
Thanos was the hero
I think so too. Probably just more consolidation type pullbacks. I guess it's time to start flipping earnings for me, and hold what I've got now for a little while.Originally Posted by boneil
If the Remdesivir clinical trials are not positive and we don’t have any other drugs on the horizon I can see that causing a sharp pullback but who knows in this environment.
That's true. Do you know when that data is supposed to come out?
End of this month I think
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Hmmm, that'll be interesting to see.
There is one at the end of the month and I think I read today that the bigger clinical trail results will be released the end of May. Keeping my fingers crossed that we have some type of treatment for those who are adversely affected by this virus.
Yeah, no doubt
This market isn't going to have any type of significant pullback until some larger stocks that are not travel or oil and gas related have serious misses on earnings in the coming months. Nothing else matters at this point to the markets right now. The market is expecting a poor showing and bailout for airlines, hotels, cruises, oil and gas companies, etc, so until some companies outside of these areas have problems, the market will generally keep marching up....
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The oil market is crashing and taking the overall market with it. The consumption is down to nothing and the storage tanks are full.
And yet COP is flirting with green today. I plan to sell it today at some point.
Amazing, isn't it???
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24p Fury 4
24v 47" Lowrance Ghost / Lowrance HDS
Sure is. We may not see another severe pullback in the market as a whole, but oil has got to pull back again if this continues, don't you think?
I don't understand whats up with this market
Thanos was the hero
What are your thoughts on oil?
Wishin' I was fishin'...
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Oil is a train wreck, and I feel for those involved. May contracts are expiring so they have to accept delivery, and nowhere to put it. Cushing is full, tankers are dang near full...July and August contracts are above 20, but that all depends on IF the economy is moving again, and that is a big if....
What we cannot obtain from intelligence, we can learn from experience.
It makes sense to me that oil stays low for a couple of months. Storage is filling up. Oil will go back up to $40+, the question is how many companies go bankrupt waiting. Could there be a bail out for US producers? Yeah, I think there could be.
If the economy doesn't open up in the next few weeks then next months oil contract goes to $10 again.
But why isn't gasoline futures falling?
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I think a barrel of filtered water is more expensive than oil
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Great question
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