5% - 10% profit per day trading
- Thread starter spanish89
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Oil futures rallied nearly 4% in a volatile session Tuesday to approach $50 a barrel, after a report showing a surge in U.S. housing starts offset expectations that U.S. crude inventories rose last week.
http://www.marketwatch.com/news/sto...x?guid={0A015116-AAF6-4C2F-85BB-A63A6AABA8BD}
But on the supply side, analysts surveyed by Platts expect
- data will show a 2-million-barrel increase in U.S. commercial crude stockpiles
- decline of 2.1 million barrels in gasoline stocks
- 400,000-barrel increase in distillate inventories
when the Energy Information Administration (EIA) releases its closely watched weekly petroleum data at 10:30 a.m. Eastern on Wednesday.
the Platts survey showed.
Refinery utilization is expected to remain unchanged at 82.7% of capacity.
"The fundamental picture for oil is looking a little better, largely due to OPEC's efforts, but more still needs to be done to counter the weakening demand and to reduce the glut of crude in storage," said Nimit Khamar, analyst at Sucden Financial Research.
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"The economic data and inventories expectations" were moving crude prices, said Phil Flynn, vice president at Alaron Trading. "People also expect OPEC will show better compliance."
The expiration of options on the front-month April futures contract added extra volatility to Tuesday's trading, Flynn added, as traders scrambled to cover their option positions before they expire.
"It's also option expiration madness," he said. "Today is really about finding out what put or call players do to cover and protect their positions."
http://www.marketwatch.com/news/sto...x?guid={0A015116-AAF6-4C2F-85BB-A63A6AABA8BD}
But on the supply side, analysts surveyed by Platts expect
- data will show a 2-million-barrel increase in U.S. commercial crude stockpiles
- decline of 2.1 million barrels in gasoline stocks
- 400,000-barrel increase in distillate inventories
when the Energy Information Administration (EIA) releases its closely watched weekly petroleum data at 10:30 a.m. Eastern on Wednesday.
the Platts survey showed.
Refinery utilization is expected to remain unchanged at 82.7% of capacity.
"The fundamental picture for oil is looking a little better, largely due to OPEC's efforts, but more still needs to be done to counter the weakening demand and to reduce the glut of crude in storage," said Nimit Khamar, analyst at Sucden Financial Research.
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"The economic data and inventories expectations" were moving crude prices, said Phil Flynn, vice president at Alaron Trading. "People also expect OPEC will show better compliance."
The expiration of options on the front-month April futures contract added extra volatility to Tuesday's trading, Flynn added, as traders scrambled to cover their option positions before they expire.
"It's also option expiration madness," he said. "Today is really about finding out what put or call players do to cover and protect their positions."
days like these make my counter-trend trading style reaaaally hard. so oil is going up because traders have a positive outlook on the economy now?
Market big players pulled oil to 49.80 set the perfect stage for touching tomorrow 47.0 ( if not lower) when EIA numbers are released .
EIA Mcgraw hill report show 2 million increase , where as Bloomberg shows 1 million.
so it is certain it shows at least 600,000 crude oil stock piles increase .
EIA Mcgraw hill report show 2 million increase , where as Bloomberg shows 1 million.
so it is certain it shows at least 600,000 crude oil stock piles increase .
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