Search results

IGINDEX rolled over. They base their front month on volume traded. That might be causing the confusion.

Thanks. Missed all of the directional move. So it is nice to see a set-up that stands a chance of making some money.

I am holding a 1 CL contract from 47.38. Stopped moved to break even. I am hopoing it breaks the neckline of this double top, in which case target will be 45.30.

Also dollar weakening

There are many good books on the subject by people with no allignment to wall street or the arabs. I recommend 'The End of Oil' by Paul Roberts. I would also recommend reading this below and then the full report. It is by Bob Hirsh a senior energy consultant and the report was for the US...

I am afraid to say your are in for a very big shock my friend. The only long-term supplies of 'oil' are shale based and suffer from production flow problems as it is far harder to produce shale than pump it out of the ground. Oil shale will never contribute to more than 10 million barrels...

Forget 40 years, try 15-20 maybe less. We will be using electric vehicles but the cost of changing away from an oil based economy will be daunting. Many people think it will cause the collapse of the world economy and billions of people will starve as oil is so important in the production of...

Well the $ is key. It was only 1998 when oil traded at $15. We have a very large build in spare capacity and lots of new non-OPEC supply coming to the market this year. I think c $25 is an absolute floor at the moment but if we keep seeing demand fall and spare capacity rised to 10 million...

I am not shorting until we break the uptrend line which is currently at 4360 or so. I have closed my USO position taken a few weeks ago for half the profit I could have taken but still 3k profit non the less. The only bullish factor for oil is the $ could tank if and when the fed announces...

OPEC to keep production levels steady By MarketWatch Last update: 12:43 p.m. EDT March 15, 2009Comments: 1SAN FRANCISCO (MarketWatch) -- The Organization of Petroleum Exporting Countries said Sunday it will leave oil-output levels unchanged and will fully comply with production targets the...

Doea anyone know what time the OPEC announcement will be?

Well tomorrow is comic relief so any profits I make tomrrow are going to charity. Knowing my luck i'll have a monster day after a slow week!!

I have to take my hat of to you. Excellent call. I had called for $50 as well but was wavering considering the extent of the retracement and the build in inventories.

Gold is looking bearish now. It has broken its intermediate trendline and fallen back into its long-term down-trend channel. The last move down appears to be a five wave down signalling a change to a bear market. I have given up on gold for the time bieng. here may be a retracement back...

I moved my stop to 928 and got out for a small gain. Looks like the bull move in gold may be over and we have a new intermediate downtrend. I think we will break the intermediate uptrend line soon at 915 and move down to 885 or so.

Looking at the chart it seems we may retest the $50 upper range. Oils rising trend is suprising me considering this absolutely appauling economic news that has come out over the last couple of weeks. However, OPEC's cuts must have taken the spare capacity out of the market. If the dollar...

This is a good move. You don't have to give up trading though. Just one thing, now you are getting a job, you'll be paying tax and hate scrounging bastards just as much as we do.

Thanks but I can't take credit I got it from Sunday's shadowtrader broadcast! I just used a spead bet.

I think you missed it. I am long from 905 a couple of days ago. It hit a confirmed intermediate trendline and the $900 mark. If it breaks the $930 mark you may want to look for an entry on a retracement.

Yes I meant MAY-JUNE. Just added to it as well. I don't think there is any risk of this going into backwardation unless there is a major short sqeeze like that one back when oil was just trading under $100 last year. I like this stategy but I don't like not using stops.