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Did someone say negative WTI? WTF!
Q: What do you say when the market offers you free oil? A: No Tanks! 🙂 April 20, 2020 has made a name for itself in history as on this day, WTI prices for May delivery went below zero and settled at -$37.63/bbl. June contracts are trading (April 21, 2020) at $11.16/bbl (Thank God!). Who would’ve thought we would be happy to see oil prices in low teens? What caused the massively unprecedented event that made all the headlines? The expiry of the May futures was on April 21, and some traders held on to long positions (contracts to buy crude) too long and found themselves with no one to…
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Virtual goes the Weasel!
Covid-19 has turned our lives topsy-turvy. In Calgary, schools have been closed and we have been working from home since March 16, 2020. Today (April 21, 2020) is week 6 of this craziness, which is quickly becoming the new normal. Work is done in the home office, meetings via MS Teams, classroom via Google Meet and drinks/coffee with friends via Zoom. When we go back to the “old ways”, what will change and what will remain the same? It is a fun game to guess and make predictions (everyone is doing it), so here are my predictions: People who are sick (cold/flu etc.) won’t go into the office wearing it…
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Money or Mud?
Markets are on a wild ride these days. The CBOE Volatility Index (VIX), which measures market’s expectation for volatility in the coming 30 days, has been on its own wild ride. But volatility is not always bad. There are opportunities to invest and make money. Here’s my strategy for stock purchase in my portfolio: Stick with the winners (buy big names with solid balance sheets, those that can survive a recession) and leave the rest to the others. Be patient and buy the dip (watch your watchlist). Dollar cost average your way into the dip (buy some stocks every time the market goes down). Today (April 15, 2020), Jim Cramer…