@spanish89
ah, i see that. but what about the less than expected build in oil today?
ah, i see that. but what about the less than expected build in oil today?
5% - 10% profit per day trading
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the 0.2million less than expected...?? :eek:
Ive traded this market for a long lonnng time now, every single wednesday been in there with the rest playing this number every afternoon..
seen expected drawdowns of 2million barrels, had actual build of 8million, yet instead of crashing oil rocketd on that.
even though the market does normally react logically on the number,
a change of 0.2million will just go unoticed. :/
http://finance.yahoo.com/news/Oil-markets-grow-volatile-apf-14465882.html
1) crude inventories:
The government report also said that crude inventories rose by 700,000 barrels, or 0.2 percent, to 351.3 million barrels. Analysts expected crude stocks would grow by 2.25 million barrels, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.
2) Gasoline inventories :
slipped by 3.4 million barrels, or 1.6 percent, to 215.3 million barrels, which is 7.6 percent below year-ago levels.
3) gas demand ( gas used by people ):
the Energy Department's Energy Information Administration said in its weekly report that gasoline demand was up 1.7 percent for the week ended Feb. 20, compared with the same period last year to an average of 9 million barrels per day.
4) Zarembski said oil traders are heartened by reports that 80 to 90 percent of OPEC members were complying with production cuts.
"For the cartel, that's quite unbelievable," Zarembski said. "There were some expectations that some of those members would sneak in a few extra barrels to sell. But maybe OPEC is serious about doing something about low prices."
1) crude inventories:
The government report also said that crude inventories rose by 700,000 barrels, or 0.2 percent, to 351.3 million barrels. Analysts expected crude stocks would grow by 2.25 million barrels, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.
2) Gasoline inventories :
slipped by 3.4 million barrels, or 1.6 percent, to 215.3 million barrels, which is 7.6 percent below year-ago levels.
3) gas demand ( gas used by people ):
the Energy Department's Energy Information Administration said in its weekly report that gasoline demand was up 1.7 percent for the week ended Feb. 20, compared with the same period last year to an average of 9 million barrels per day.
4) Zarembski said oil traders are heartened by reports that 80 to 90 percent of OPEC members were complying with production cuts.
"For the cartel, that's quite unbelievable," Zarembski said. "There were some expectations that some of those members would sneak in a few extra barrels to sell. But maybe OPEC is serious about doing something about low prices."
It is all 3 factors crude inventories, gasoline inventories, gas demand (actual gas used by people) are bullish for oil price today , in usual Wednesday govt. report of these 3 factors 1 positive, 1 negative, 1 nuetrual kind of situation .
I am going to hold this $2.40 spread( averaged with couple of them) for a week , I am sure by next week this time this spread will be flat or positive .
I am not short in this rally that is silver lining( but missed some part of the rally ), only above couple of spread contracts
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