Thunderpants 0 Posted August 16, 2005 Share Posted August 16, 2005 ..but W is working on a cleaner world Click here Link to post Share on other sites
soubriquet 0 Posted August 16, 2005 Share Posted August 16, 2005 It's encouraging to see politicians taking a geological perspective of time Link to post Share on other sites
Curt 1 Posted August 17, 2005 Share Posted August 17, 2005 Quote: W is working on a cleaner world I always have trusted the man. Link to post Share on other sites
damian 0 Posted August 17, 2005 Share Posted August 17, 2005 Quote: Originally posted by Kintaro: I'm not against capitalizing on the price of oil...any one else seeing some profits from the current environment? Yes, as part of my personal program trading I bought three NYMEX sweet light crude contracts (futures) around $50. If you know the big point value of a CL contract then you know my approximate open profit. I also own natural gas, heating oil and unleaded gasoline contracts. I recommend that you all try to profit from what is going to be the biggest event in decades. Link to post Share on other sites
Ocean11 0 Posted August 17, 2005 Share Posted August 17, 2005 > I'm not against capitalizing on the price of oil... What are the moral implications of doing that? Does capitalizing on the price of oil create any new value? Link to post Share on other sites
NoFakie 45 Posted August 17, 2005 Author Share Posted August 17, 2005 Invest in Torture! US Government approved! Don't miss the boat! Here's Fox News' advice on how to react to innocent people being blown up. http://mediamatters.org/items/200507070007 Link to post Share on other sites
sava 0 Posted August 17, 2005 Share Posted August 17, 2005 How can you buy 3 contracts? Most places (at least in australia) require you to invest a minimum of $25,000 ? Link to post Share on other sites
Siren 0 Posted August 17, 2005 Share Posted August 17, 2005 Congrats for being in-the-money already, DB. So are we in backwardation or contango now? Link to post Share on other sites
Siren 0 Posted August 17, 2005 Share Posted August 17, 2005 By the way don't fall for what DB says because he is just using you to drive him further in-the-money! Link to post Share on other sites
damian 0 Posted August 17, 2005 Share Posted August 17, 2005 Quote: Originally posted by sava: How can you buy 3 contracts? Most places (at least in australia) require you to invest a minimum of $25,000 ? Hi Sava, I am not sure what you mean. It is perfectly possible to buy/sell "only" three contracts. Three contract of crude is actually quite a lot if you look at the dollar value of a typical day's range. I currently have open trades in 50 different commodity markets with the largest position being 7 contracts (of sugar). Nearly all my positions are 1 or 2 contracts. Among other activities, I day trade the S&P full contract using two different systems and my broker is instructed to only ever trade 1 lot for each system. Be assured that 1 lot trades are very possible. Perhaps you mean that to open a futures brokerage account (in Australia) you need to deposit $25,000? Given margin requirements this seems quite possible. A trader using $25,000 to trade long term positions in crude futures is going to have a very high probability of ruin if they 'only' have 25k trading capital. BTW, there is a way to directly speculate on the price of crude without using futures or the capitalisation required. Check out UK based spread betting houses. Link to post Share on other sites
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