5% - 10% profit per day trading
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OPEC Will Consider âAll Optionsâ as Oil Demand Extends Slide
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http://www.bloomberg.com/apps/news?pid=20601087&sid=aGCfRErTSUw0&refer=home
In a Bloomberg survey,
- 31 of 41 analysts said OPEC will limit output for the fourth time next week.
- Of those, 13 expect a reduction of 500,000 to 1 million barrels a day,
- 12 say 1 million barrels and two estimated 1.5 million.
- The rest declined to provide an estimate.
- Ten of the 41 analysts anticipated no change.
The analysts were surveyed on March 3 and March 4.
Hannes Loacker, an analyst at Raiffeisen Zentralbank Oesterreich, said a compromise could be a relatively small cut of 500,000 barrels a day, âotherwise, there will be a negative market reaction.â
âWe have to insist on higher compliance of the cuts, which we believe has been good, but needs to be completed,â Rafael Ramirez said in an interview as he arrived for the March 15 meeting. âWe have to look at the fundamentals of the market and the macro economic situation. It is very complicated.â
âThere is a risk of over-tightening and the last thing the global economy needs is a spike in oil prices,â Francisco Blanch, head of global commodity research at Merrill Lynch & Co., said in a Bloomberg Television interview. âOPEC should not think about cutting more until they meet their quotas.â
Kuwaiti Oil Minister Sheikh Ahmed al-Abdullah al-Sabah said âall options are on the tableâ at the meeting.
âWe donât want to hurt the international economy, but at the same we donât wonât to hurt ourselves,â he said in an interview at Vienna airport today. âIt is a very difficult equation. It is still undecided.â
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http://www.bloomberg.com/apps/news?pid=20601087&sid=aGCfRErTSUw0&refer=home
In a Bloomberg survey,
- 31 of 41 analysts said OPEC will limit output for the fourth time next week.
- Of those, 13 expect a reduction of 500,000 to 1 million barrels a day,
- 12 say 1 million barrels and two estimated 1.5 million.
- The rest declined to provide an estimate.
- Ten of the 41 analysts anticipated no change.
The analysts were surveyed on March 3 and March 4.
Hannes Loacker, an analyst at Raiffeisen Zentralbank Oesterreich, said a compromise could be a relatively small cut of 500,000 barrels a day, âotherwise, there will be a negative market reaction.â
âWe have to insist on higher compliance of the cuts, which we believe has been good, but needs to be completed,â Rafael Ramirez said in an interview as he arrived for the March 15 meeting. âWe have to look at the fundamentals of the market and the macro economic situation. It is very complicated.â
âThere is a risk of over-tightening and the last thing the global economy needs is a spike in oil prices,â Francisco Blanch, head of global commodity research at Merrill Lynch & Co., said in a Bloomberg Television interview. âOPEC should not think about cutting more until they meet their quotas.â
Kuwaiti Oil Minister Sheikh Ahmed al-Abdullah al-Sabah said âall options are on the tableâ at the meeting.
âWe donât want to hurt the international economy, but at the same we donât wonât to hurt ourselves,â he said in an interview at Vienna airport today. âIt is a very difficult equation. It is still undecided.â
one of the oil Short guy perspective
http://www.alaron.com/energy_report.aspx?id=17654&blogid=80
The impressive turnaround in oil was not all about the politics of OPEC.
- It had a lot to do with the surging stock market. Retails sales were better than expected and Bank of America said they actually made money and just like that all our economic worries have gone away.
- Donât focus on over supply and spare production capacity just focus on better days ahead.
But commodities in general rallied on news that the Swiss National Bank announced plans to intervene in the safe haven Swiss franc trying to drive out those seeking shelter from the storm.
- The threat of intervention sent the Swiss tumbling and the precious metals soaring.
- The rally in the gold helped the other commodities look more attractive in a day when economic optimism permeated the air.
http://www.alaron.com/energy_report.aspx?id=17654&blogid=80
The impressive turnaround in oil was not all about the politics of OPEC.
- It had a lot to do with the surging stock market. Retails sales were better than expected and Bank of America said they actually made money and just like that all our economic worries have gone away.
- Donât focus on over supply and spare production capacity just focus on better days ahead.
But commodities in general rallied on news that the Swiss National Bank announced plans to intervene in the safe haven Swiss franc trying to drive out those seeking shelter from the storm.
- The threat of intervention sent the Swiss tumbling and the precious metals soaring.
- The rally in the gold helped the other commodities look more attractive in a day when economic optimism permeated the air.
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 group agreed to late last year.
OPEC, which controls about a third of the world's oil production, met in Vienna on Sunday to mull possible moves as oil prices trade below their July high of $147 a barrel despite recent cuts to output. Crude finished a volatile session down nearly 2% to $46.25 a barrel on Friday, but despite the losses, closed the week with a 1.6% gain.
OPEC has already agreed to three production cuts since September totaling 4.2 million barrels a day. The International Energy Group, an energy adviser, said Friday that OPEC has shown an 80% compliance with its earlier production cuts.
The oil cartel said it will meet again on May 28 and Sept. 9 in Vienna to reassess output. OPEC President and Angolan oil minister Jose Maria Botelho de Vasconcelos hinted that more tightening may be considered at the group's meeting in May, according to reports.
"All measures are possible at our May meeting," Vasconcelos said.
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 group agreed to late last year.
OPEC, which controls about a third of the world's oil production, met in Vienna on Sunday to mull possible moves as oil prices trade below their July high of $147 a barrel despite recent cuts to output. Crude finished a volatile session down nearly 2% to $46.25 a barrel on Friday, but despite the losses, closed the week with a 1.6% gain.
OPEC has already agreed to three production cuts since September totaling 4.2 million barrels a day. The International Energy Group, an energy adviser, said Friday that OPEC has shown an 80% compliance with its earlier production cuts.
The oil cartel said it will meet again on May 28 and Sept. 9 in Vienna to reassess output. OPEC President and Angolan oil minister Jose Maria Botelho de Vasconcelos hinted that more tightening may be considered at the group's meeting in May, according to reports.
"All measures are possible at our May meeting," Vasconcelos said.
Anyone who held longs over the weekend i would STRONGLY advise getting out the trade now before the asian markets open,
even if its for a loss.
Since there now is no reason for oil to now drop down to 40.26 / 39.26 now, if not lower.
And especially since its extremely like that the dow will fall over 100points tomorrow.
Which as a result will also make the dollar stronger, therefore adding further down pressure to oil.
Hopefully it till be above 44.86 when it opens for the UK at 7am, so i can then get my sell trade in and hold it till under 40.26
I wont be doing any buying till wednesday afternoon though.
even if its for a loss.
Since there now is no reason for oil to now drop down to 40.26 / 39.26 now, if not lower.
And especially since its extremely like that the dow will fall over 100points tomorrow.
Which as a result will also make the dollar stronger, therefore adding further down pressure to oil.
Hopefully it till be above 44.86 when it opens for the UK at 7am, so i can then get my sell trade in and hold it till under 40.26
I wont be doing any buying till wednesday afternoon though.
Oooh, the piece of shit gapped down nearly 2dollars in seconds!! :eek:
Tapping down under 44dollars.
Did you have a guaranteed stoploss usman, so you managed to get out at break even atleast mate??
(I wouldnt ever trust trading through a broker, so dont know about how stoplosses are honoured with them for after hours movements like this, or what hours n days they are open for you to put new trades in).
When i get some more money i am gna have to put money into my igindex account too though, since they let you put trades in at anytime day or night, even on saturday mornings if you like..
So you can easily take advantage of news movements like this and other things that happen over the weekend.
ALthough i am talking to EtxCapital about them changing to 24hours too.
Tapping down under 44dollars.
Did you have a guaranteed stoploss usman, so you managed to get out at break even atleast mate??
(I wouldnt ever trust trading through a broker, so dont know about how stoplosses are honoured with them for after hours movements like this, or what hours n days they are open for you to put new trades in).
When i get some more money i am gna have to put money into my igindex account too though, since they let you put trades in at anytime day or night, even on saturday mornings if you like..
So you can easily take advantage of news movements like this and other things that happen over the weekend.
ALthough i am talking to EtxCapital about them changing to 24hours too.
Ok chart to show the next trade setup..
(Used the monthly chart since everyone already has the normal daily chart , and so can see why i want 45.26/39 as entry,
But this monthly chart shows why i want 40.26 as a target.
And why that now all the bullish factors are gone form oil why 40.26 is an extremely obvious target for where its going on teh downside now)
I am doing another all-nighter now, to make sure that im awake when 7am comes..,
and im gna have a sell order at 45.26 (highest i think it could poissbly go today is 45.39)
And my target will be 40.26
This trade opportunity looks extremely low risk..
As after opecs shameful display at their meeting,
combined with fact that they have delayed next meeting now till 28th may (http://uk.reuters.com/article/oilRpt/idUKVAT00037920090315),
wtf is there left for traders to use as an excuse to buy oil instead of short-sell oil...?!!
:eek:
Hopefully this will even re-widen the contango spread between the later month contracts and brent,
causing a big big gap down in the final few days of the contract.
(Used the monthly chart since everyone already has the normal daily chart , and so can see why i want 45.26/39 as entry,
But this monthly chart shows why i want 40.26 as a target.
And why that now all the bullish factors are gone form oil why 40.26 is an extremely obvious target for where its going on teh downside now)
I am doing another all-nighter now, to make sure that im awake when 7am comes..,
and im gna have a sell order at 45.26 (highest i think it could poissbly go today is 45.39)
And my target will be 40.26
This trade opportunity looks extremely low risk..
As after opecs shameful display at their meeting,
combined with fact that they have delayed next meeting now till 28th may (http://uk.reuters.com/article/oilRpt/idUKVAT00037920090315),
wtf is there left for traders to use as an excuse to buy oil instead of short-sell oil...?!!
:eek: Hopefully this will even re-widen the contango spread between the later month contracts and brent,
causing a big big gap down in the final few days of the contract.
spnish chart is crisp and clean
i do not know about 40.26 but I agree with 45.26 short , if one places limit sell at 45.26 with target 50 cents profit ( as bracket order -> placing profit target at the time of limit order entry itself ) it is good setup and low risk , if it is executed order entry you 50 cents are almost guaranteed.
Recently I am noticing placing these limit orders with 50 cents profit objective built into the order itself showing good profits if it hits.
i do not know about 40.26 but I agree with 45.26 short , if one places limit sell at 45.26 with target 50 cents profit ( as bracket order -> placing profit target at the time of limit order entry itself ) it is good setup and low risk , if it is executed order entry you 50 cents are almost guaranteed.
Recently I am noticing placing these limit orders with 50 cents profit objective built into the order itself showing good profits if it hits.
Quote from spanish89:
and im gna have a sell order at 45.26 (highest i think it could poissbly go today is 45.39)
And my target will be 40.26
This trade opportunity looks extremely low risk..
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