Search results

Here is the Bloomberg article where one analyst says we could have a June contract around $-100/BBL.

Correction: IB is permitting trading the June front month in CL. Of course, the margin requirement is high ($12,500). You must liquidate your position by 9 am on May 18th or they will do it anyway. Many other brokers like AMP and TOS have placed the June contract on "liquidation only"...

Massive supply/demand imbalance and the lack of inventory space. This is somewhat incoherent. There is no conspiracy. The NYMEX has operated their exchange for years with complete openness and laisse faire...letting the buyers and sellers determine the price of a commodity. Who cares ...

Don't underestimate the Donald. He has openly said he wants to protect "our great oil industry". Anyway, his announcement is likely to have more reaction in the market than the actual implementation. He's out to burn the shorts....taking a playbook from Elon Musk. Of course I meant open for...

Those short in crude oil futures should beware the Trump administration has not one but two plans to resolve the crude oil "problem". 1) pay domestic producers to stop or cut-back on their drilling activities. This will be done thru the Fed. 2) activate the SPR and/or expand it to hold more...

Yep. 7 Pt move within seconds today.

No chance. Things have changed.

Crude oil prices have been on the rise and indeed June CL has broken over $20.00 recently. Hopes are that supply cut-backs will stave-off inventory problems. What's the current demand draw is anyone's guess...

Apple earnings dip amid coronavirus pandemic Oh really ? You changing market rules and finance theory then ?

IMHO these earnings announcements coming out are worthless.....they don't reflect the full impact of the economic slowdown.....and there's no forward guidance.

July CL is about a $3 premium to June right now. I think it should be much higher.

Up $2/BBL in less than 30 minutes ! Hard to believe it went into the 19's. How far can this run given the supply-demand situation for June delivery ?

June CL moved up $1/BBL to HOD of $18.62 and then promptly gave it all back. Market moving up on expectations that supply cut-backs from OPEC will prevent inventory overload. Norway cut-backs were also in the news today. Of course there is also some short covering going on. The EIA has the...

CL just made a new HOD at $18.00 and then backed off 50 cents. Pretty strong PA this morning.

Yeah, I have noticed the recent support at $15-$16. I've got to write a post about the market tomorrow. Lots of impending news items and announcements forthcoming.

Actually we have a perfect EWT 5 wave move up from the 3/23 low.....now in the 5th wave.

But it was 26 points or 2.6 points per minute....or $130/minute per contract.

Here you go. 200 tick chart for Wed. 4/29.

Good cover given the PA at the time. Note: The market just loved the 2929 level this afternoon.....was hit 4 times....and bounced.

Triple top at 2947 HOD level today spelled doom for the longs. Straight down from there.