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RE: Negative Crude Oil Give Away For Idiots
Now imagine what the gold price will be if people started to take physical delivery of gold futures. If oil can go to - 36 then gold could go to 5000 bucks easy
"Unfortunately", they rather take the delivery on metals. If you're going to speculate on precious minerals, uranium are the ones that people does not take delivery and even if they wanted, they can't unless they have the permits to hold them. So, yeah those stuff can go negative value on their futures contract.
LOL yes that would be a major fuck up good point I’ll be watching those next this could be my new fan fact if we see more negatives
With manufacturering too, like steel and stuff, also I hope those hedge funds who have been long on this stuff don’t get bail outs
Dude. The point is, use the future market to predict the spot market. They pretty much tells you what the "future" will look like 😂😂😂 this case for example, future fall to -36, spot market still on 14 dollars. So the next best thing is, you park a buy order at spot market for 7 dollar, and see it bounce right up.
Remember this, it's not life stock. It's not perishable. Crude oil is raw material. And raw material can't go negative. At worst, the oil refinery close down and don't wanna sell you oil. You can go there Rob them and take their barrels at the same time 😂
Other perishable product, like lean hog. If you take the negative contract, it will be worst because next thing you need to deal with, is a truck load of dead pig 🙈 it's like they pay you to get rid of their dead pigs.
Bottom line is, you need to identify and compare the spot market price with the future contract. This oil thing, could be once in a life time. I mean, after yesterday's incident, I don't think there's anyone else daring to speculate the crude oil futures 😂 or they're too busy to arrange transport for their 200 barrels now, and probably for the next 10 months.