Oil plunges 25%, extending recent losses as storage fills

June 13, 2020

Well, here we go again with the old oil plunging story. It’s now May and nobody has seen prices this low for oil. And as I’ve said it once, and will say it again, opportunity is usually being at the right place at the right time, or putting yourself at the right place at the right time and having the knowledge to know what you’re doing and having the capital to do it. So, of course it takes money to make money when you’re trading a commodity or buying and selling something, but it doesn’t always have to be your money, remember that. The greatest fortunes in the world were all built with other people’s money, and that is a fact. So here I tell you probably by the end of June and July oil could be back up 50%. I’m not a trader, I don’t want to be, I did that for years and no one I know ever made a penny nor myself.

I just lost millions and I was considered a pretty good trader. But now being on the outside looking in, people who have millions of dollars behind them who can gamble with other people’s money like hedge funds, those are the people that can make money once in a while, because they’re using other people’s money. But this story is really about opportunity and timing, you may never see oil this low again forever, or you may, who knows what’s going to be happening. That’s why I prefer real estate, something rock hard and tangible. And remember this, it’s got to be the right kind of real estate. I prefer residential single family homes are right now in this market and or other kinds of residential properties. Those are your safest bet for a future of rock solid retirement. I’m at (201) 209-2500 and can be reached at any time. Thank you so much and I hope you enjoyed my rant.

Oil plunges 25%, extending recent losses as storage fills was originally published on CNB C.

About The Author

Robert Annenberg: Robert Louis Annenberg Is a 40 year seasoned property owner, manager, investor, builder/developer and business man who is also an author of five published books to date (Amazon.com) and the chief editor of LifeQuestJournal.com. He can be reached at: Info@RobertAnnenberg.com and (201) 289-2500.