It’s a good time to buy Oil futures (Long term). I imagine the correction will smart. But in the mean time, this is putting about $325 a month in my pocket each month measured against $3.50/gallon gas. That’s almost $4,000/year.
It’s like a great tax break. Thank you Mr. President. Your the greatest! ( <—— = That there is Sarcasm)
Well as I read in USAToday, “republicans talked a lot about drill baby drill but it was Obama that made it happen”
So feckless dems will take credit for anything good.
Just be aware, anyone following along the same line of thinking, that oil futures (CL, the West Texas Intermediate oil that is usually cited) expire every month. We just shifted to March futures this session (starting Sunday night) as the volume of trades are now in March and not February contracts. So, a long term entry must be in a distant contract month that will match your definition of "long term".