Hi /biz/I've sold my shares in oil supply companies, and now have all my money in cash. Never bought anything but stocks.I'm strongly considering doing a fairly YOLO buy of 3x leveraged bull oil ETN today, and jump out towards end of Monday. I realize there are even 15x products here, but I've landed on 3x as my comfort zone.I realize there is massive risk with these products, but I'm absolutely convinced oil will climb on Monday. I don't see any chance whatsoever that oil prices will go down.Anybody else planning on something like this? Anybody here with ETN experience? I've never bought these things. I've read up, but I have some questions...
>I've sold my shares in oil supply companiesretard
>>61951552I should have specified better: Supply vessel companies. Not tankers. I made a very nice profit from that investment, and it's moving horizontally atm, so I secured profit.
>>61951548If you can buy these in weekend everything is priced in.If you buy the kind that you can only buy in monday it will go up dip and go up. Buy that dip and you might get 50% on that day. These will have daily costs so it will rape your wallet if you keep it in for days.This is only if your product is derivate, but there is multiple kinds. Anyways you are late and you will prob lose. Using only 3x will not get you to 0 tough.
>>61951636Thanks for the advice. I will stay out of it. I don't understand the product well enough and can easily get burned. I'm just looking for opportunities to make money. I'll let the cash rest for a while until a real opportunity arises. I want to be ready for the next big dip.
>>61951548>I'm strongly considering doing a fairly YOLO buy of 3x leveraged bull oil ETN today,It's sunday you can't buy right now.>end of mondayOil will open up at least 10%.
>sold my shares in oil supply companiespicrel
>tankers
