Come on, Mike. Demand for oil is in the toilet; nobody is commuting to work. Shale crapped out a few years ago, and surpluses are happy, i.e., the supply side is fat, and the demand side doesn't care at all. Oddly, the oil sector has been up the past couple of days, but that will probably be over on Monday, much like the recent banking/hedge fund stock trend represented by mortgage-backed security scuzz trying to fix up their balance sheets while everyone was/is dropping (mortgage-packed) bonds like toxic waste.
Dividends are in a funny state now, too, as they have become yet another cost to cut. I got one last week for holding a gold ETF for like four days . . . it only paid for one beer, but it was swell, nonetheless.
On a fun California note, it is interesting (should be alarming) how Tesla is in bed with PG&E on a central coast solar/battery farm thing (in the midst of the largest utility bankruptcy ever). Too legit to quit, those folks . . .
Happy shelter-in-place weekend, dudes!
Quote:
Originally Posted by glassman
Fundamental changes.
I'm long and my funds and stocks are being watched by a very small broker.
And cautiously optimistic. Strange times, strange times indeed.
Oil is strange. Were gonna need it and the demand for it is ever increasing despite what the stocks tell us. it's bad now but the economist reports I read is the electric cars and buses all need the recharging (caption obvious) but where is that energy coming from? Solar= not enough, Nuclear=everybody's scared. Oil=easy, not sure.
I'm not heavy in oil, other than some divi Chevron stock.
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