Originally Posted by Buehler445:
So the front month of Crude closed at -37.63/brl. Yes. That is NEGATIVE. To my knowledge commodities haven’t went negative.
My buddy is the CEO at the coop and his broker is pretty connected. (I’m assuming it came from his broker) said that it was an ETF that held all the contracts that got slaughtered. I’m sure now is normally a perfectly acceptable time to get out of the front month unless it’s May 2020 contract.
Just one of many reasons not to I Evers anything in ETF of commodity markets.
With negative oil prices, I've settled on a new career path. I'm going to buy the biggest gas-guzzling RV that I can find, and I'll make a fortune driving around the country.
If I drive 55 miles per hour and get 5 miles to the gallon, then every hour on the road will consume 11 gallons of oil and give me $410 in income. I'll drive 40 hours a week and gross $16,000. [Reply]
Originally Posted by ghak99:
There's one that's not too far away, but it's twice the haul, 1/3 more expensive, and would require adding water back into the ration. The ethanol plants have just spoiled us and it would be a terrible time to try to pencil in the extra input costs.
Gas is below $1 in several places here, so who knows how long the local plant will hold out. If it gets real ugly, I guess I could try roasting some of our own beans. Never even seen it done though, so I'm sure it'd be a disaster.
Heh. Take video. I’d be interested to see if it worked.
RE: margins. I feel you. Mine are ass but nothing like bloodbath you cow guys are taking. Dads got a field next to this little feedyard this guy runs. 1000 head or something. Anyway I roll in there with my sprayer and see this cow by the chute. So I call him and make sure he knows and I’m not going to spook her to hell and gone. He answers and I ask how he’s doing. His response is: “well, the markets are closed.” :-)
Originally Posted by Rain Man:
With negative oil prices, I've settled on a new career path. I'm going to buy the biggest gas-guzzling RV that I can find, and I'll make a fortune driving around the country.
If I drive 55 miles per hour and get 5 miles to the gallon, then every hour on the road will consume 11 gallons of oil and give me $410 in income. I'll drive 40 hours a week and gross $16,000.
June futures are still 20.43. Fairly certain you won’t be selling the opportunity to offload physical oil. [Reply]
Originally Posted by Rain Man:
Hey, do I destroy YOUR dreams?
No. But the market does regularly. So you’re not alone there. And as much as I killed your dreams, at least you’re not holding a bunch of long contracts $20 crude oil and sit through a -$57 day. [Reply]
Originally Posted by Buehler445:
No. But the market does regularly. So you’re not alone there. And as much as I killed your dreams, at least you’re not holding a bunch of long contracts $20 crude oil and sit through a -$57 day.
So with Oklahoma sweet at -$41.00 does that mean I can buy a barrel of oil for 0 and get a check for $41 with it?
Back to the deep value restaurant thing, it looks like Darden Restaurants is getting ready to sell more shares to raise cash instead of going into more debt. They should be fine, but some quick math made it look to me like what appeared to be a possible double on the eventual rebound is most likely going to be a 30 to 40 percent gain that may take a while to play out. At least it doesn't appear that they will be diluting the shares enough to totally tank the price. I bought in cheap enough that it's not going to hurt and my position in Darden is small. But those who bought into some of these at levels before the crash are probably cringing pretty hard right now. [Reply]
Originally Posted by lewdog:
Using the terms “new” and “hobby investor“ (WTF does this mean?!), I’d say **** no!
Ive recently started throwing a few hundo at stuff here and there. Hobby- Not my career, and im not dependant on the money invested to give me a return in any way, you know like a hobby something you put money into for entertainment, or for education, of just for satisfaction of doing it. I have some riding on insego and its been a real roller coaster! [Reply]
Originally Posted by Dunerdr:
Ive recently started throwing a few hundo at stuff here and there. Hobby- Not my career, and im not dependant on the money invested to give me a return in any way, you know like a hobby something you put money into for entertainment, or for education, of just for satisfaction of doing it. I have some riding on insego and its been a real roller coaster!
No one loses money for fun. USO for example is down 40% in a week.
