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I have invested some money in Halcon (HK). It isn't a lot of money, around $4k and I bought at just over $2/share. Essentially, I think that oil will recover .... not to $100/bbl but probably to the $65-$75/bbl level and that will push the share price up. Of course it is highly speculative but that is okay. HK have much of their production hedged through 2015 and 2016 so it is a waiting game. I could make 50% - 100% over the next 12 months. Then again they could go bust. That is the nature of a speculative play.
The think about this thread is to start remembering names, some people here, one should not take their investment advise from.
I said I was tempted to short it, but never did. I personally would not buy or short it right now. It's very choppy. It looked like it was ready for a next leg down, but it obviously wasn't.
The only position I have now is a short on TSLA. I had a large position in SPY, but closed it on 3/24 because it closed below the 20 day. I'm sitting on mostly cash.
If I buy or short OIL, USO etc I'll post it here. It's really choppy, which makes it hard to trade.
I would not trade it either. The macroeconomic environment has not changed (oversupply, low global demand). The choppiness of the trade to the upside had more to do with announcements around the fed meeting and new turmoil in the middle east. I still think the overall trend is down, but I plan to just stay away from oil ETFs.
I would not trade it either. The macroeconomic environment has not changed (oversupply, low global demand). The choppiness of the trade to the upside had more to do with announcements around the fed meeting and new turmoil in the middle east. I still think the overall trend is down, but I plan to just stay away from oil ETFs.
I hope oil go down to under 45 again, I will throw some more money that way.
You were just complaining that you are throwing money away buying as its been dropping. You are still below your breakeven, but are now hoping it drops more. Learn from your mistakes.
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