I cut loss on the opening bell and entered into BNO immediately. Still maintain the % exposure in oil, except in a different instrument. Guess it worked out well, USO tumbled like crazy towards the end.

BNO has a lower contango spread. Felt safer for the near term. Storage is more compared to WTI too.

The latest change to USO’s terms came on Tuesday afternoon when the fund said it would invest in varying oil futures contracts. According to a regulatory filing, USO has already moved money into the oil contract for August delivery.
https://www.cnbc.com/2020/04/21/usos-benchm...ract-to-ex.html

Scary.luckily i cut loss yesterday for my 3175hk.

Today 3175hk drop 45% similar to USO.

USO is a very scary play, it keeps changing assets policy. Imagine for those who play options to short it, this can be serious issue. 

Yeah, those 3x leverage ETNs also have huge decay.

After they close UWTI/DWTI pair, they re-open the UWT/DWT pair.
Look at UWT now... DWT after the big dip under 5, with crude under $1, one would like it would zoom back to
40s.. but doesn't work that way. This rollover has collapsed these ETNs.

They're closing up that these two pair too.. now reborn as UWTIF/DWTIF OTC....

Norway’s Equinor announced Thursday it will cut its quarterly dividend payment to shareholders by two-thirds, potentially paving the way for other oil majors to follow suit over the coming days.

The state-controlled oil company said its first-quarter cash pay-out to shareholders would be $0.09 per share, down from $0.27 in the final three months of 2019. That reflects a quarter-on-quarter reduction of 67%.

The move makes Western Europe’s biggest crude producer the first oil major to cut its dividend this earnings season.

“It seems there is a chance that other majors will follow suit,” Tamas Varga, senior analyst at PVM Oil Associates, told CNBC via email on Thursday.

“Clearly, suspending share buybacks and cutting capex (capital expenditure) does not do the trick anymore. In these turbulent times cash is king and the battle for remaining financially sound intensifies,” Varga said.

France’s Total will announce whether they also plan to cut dividends on Friday, with Anglo-Dutch energy giant Royal Dutch Shell scheduled to announce earnings on April 30.

Stateside, Chevron and Exxon Mobil will report their latest quarterly figures on May 1.
https://www.cnbc.com/2020/04/23/oil-price-n...nings-call.html

When $8 Trillion in Global Fiscal Stimulus Still Isn’t Enough
https://www.bloomberg.com/news/articles/202...nd=premium-asia

Ya, I'm vested in various foreign bourses. But I  scratch my head at how it is useful for me  ... maybe coz I like to keep things simple ... like, don't fight the Fed

Cheer up, mang! I read that u sold in March, maybe it's time to reconsider that your thesis may have been wrong?

Many of us might still be jobless 1 year from now. And without a cure or treatment, lockdowns may last a lot longer than many expect.

Researchers cut chloroquine study short over safety concerns, citing a ‘primary outcome’ of death
https://www.cnbc.com/2020/04/24/coronavirus...y-concerns.html

I don't think even for long term investors it is suitable for now at least. It is still trading at 6% premium and as long as the extreme contango issue exists it will be quite difficult to hold its value and not to mention the doezens of retail investors holding it currently.

Global $6 Trillion Slump May Be Optimistic, Economists Warn

That a contraction of this magnitude is based on “optimistic assumptions about both the outbreak and the recovery” underscores the challenge facing policy makers trying to cushion the blow of the pandemic. Under such scenario, U.S. gross domestic product will shrink 6.4%, while euro area GDP is set to contract 8.1%. Japan will shrink 4%, while China will expand at the slowest pace on record.
https://www.bloomberg.com/news/articles/202...nd=premium-asia

Crude and Equities are probably inversely related? 

The U.S. Bureau of Economic Analysis is poised to release its advanced estimate of first-quarter 2020 GDP at 8:30 a.m. ET Wednesday. Here are the main metrics expected from the report, compared to consensus expectations compiled by Bloomberg as of Tuesday morning:

1Q GDP annualized, QoQ: -3.9% expected, +2.1% in 4Q 2019

1Q Personal consumption: -3.5% expected, +1.8% in 4Q 2019

1Q Core PCE QoQ: +1.7% expected, +1.3% in 4Q 2019

https://finance.yahoo.com/news/gdp-1q-2020-....tsrc=fin-notif

Reserve split... 8 to 1.... but still untung sikit la.. enough for 5 days expenses...

Lots of bearishness surrounding USO.
I see eToro social all calling this a rubbish stock.
People calling potential investors to avoid at all cost.

When there's too many people on one side of the boat, the other thing will happen. We'll see. 

Oil major Shell slashes dividend as first-quarter net profit tumbles 46%
https://www.cnbc.com/2020/04/30/shell-q1-2020-results.html

Oil producers scramble to find ‘creative’ storage options after historic price crash
https://www.cnbc.com/2020/04/30/oil-and-cor...ge-options.html

I only do 1-2 days trade for this... aim small to cover 1 week expenses is enough..

Just some sarcasm on fed manipulation, wonder how long can they keep this up for.... At some point bullets do run out.....

Hi,

I am going to use CGS CIMB, but first time buying US shares. I think the min USD25 brokerage is still quite high, but anyway, too lazy change platform and take new risks on foreign brokers or online platforms. I only have Maybank KE for sg investments, but the funds there are limited.

May I ask if you settle in MYR when you buy US shares? Does this give the best forex conversion?

How about when you sell, assuming that I want to keep USD in my trust account for future purchases, should I settle in USD?

I had posted this question in the iTrade thread but nobody replied so far.

Thanks in advance.

What's CIMB brokerage fees like?
Do they charge for dividends admin?

Meaning CIMB brokerage is negotiable from 0.275 to 0.4%?

Are we ready to SELL? 

heh-heh... my internal bearish biased still exist. 
I don't think I seen enough blood on street yet.

Need another bear raid to shake 'em out.