I sold the last of my stocks today except for Berkshire Hathaway. I have been watching oil prices and know this is going to destroy the government budgets of Russia and Venezuela as well as a few other countries. How can I profit off this? You can't short the government directly. The last time Russia had a major problem in 98 they chose to not pay on their own bonds.
Plenty of Russian stocks to trade out there just search with these terms on Google russia adr And, this is an ADR directory http://www.adrbnymellon.com/dr_directory.jsp
You may be a little late to the trade besides the ruble short. RSX is a russia sector ETF, but is already down 80%... It has stabilized here and the panic is over (for now). I actually like RSX as a buy since I am bullish oil long term. What are the odds they nationalize every single company in Russia in this ETF?
You did the exact opposite of what you should do! I am buying commodity stocks and energy today (XLE) in my retirement account.
The historical low for oil is $10 a barrel. We are at $44 or so and falling. The time to buy is when it gets to the $10-$20 range. Oil has never ever been as high as it is now except for the last 4 years. I sold my oil stocks because they were 30% off the high while oil was down 70% and falling.
The market just voted. XLE was at the exact bottom when I posted, and soon after you posted. It went 7.5% UP from that point in few hours.
This is a funny thread. The OP does seem to have the characteristic of puking up at the bottoms. But claiming the bottom on one bar is even funnier. Have I accidentally come to Elite Investors?
I don't claim to know the bottom. I sold the majority of my stocks last June when the hindenburg omens hit. I held on to the oil/gas and wells fargo. I sold my CVX today because: stock was down 30% but oil barrel is down 70% and falling. I'm up on CVX for the few years I owned it and I want to lock in my money now vs it going down the next 6 months to a year, which is likely but not a sure thing. I bought at $26 watched it hit $100 last summer and sold today at $70. I am happy with my $26 - $70 performance as I don't believe I could pick the top/bottom of the market.