5% - 10% profit per day trading
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Ignore Oil fudamentals for now - Analyst
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Recent rebound in global equities alongside dollar weakness hard for oil market to ignore, so traders may have to set aside doubts over strength of supply-demand factors in
near term. "We have emphasized that underlying fundamentals in the energy complex have not
shown any improvement and probably won't for several months. But, any additional weakening in
the dollar amidst longer-term inflationary concerns will spur significant speculative buying
interest especially if accompanied by further gains in the stock market," says Jim Ritterbusch
at Ritterbusch and Associates. "Within such an environment, it is best to simply go with the
flow in the process of pushing sizable supply surpluses and a continued weak demand environment
to the backburner, at least temporarily."
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Recent rebound in global equities alongside dollar weakness hard for oil market to ignore, so traders may have to set aside doubts over strength of supply-demand factors in
near term. "We have emphasized that underlying fundamentals in the energy complex have not
shown any improvement and probably won't for several months. But, any additional weakening in
the dollar amidst longer-term inflationary concerns will spur significant speculative buying
interest especially if accompanied by further gains in the stock market," says Jim Ritterbusch
at Ritterbusch and Associates. "Within such an environment, it is best to simply go with the
flow in the process of pushing sizable supply surpluses and a continued weak demand environment
to the backburner, at least temporarily."
Quote from spanish89:
I dont even get why they want me to do the test though, since the contacted me cos they have seen me trading through here for so long, as seen the results n % profit ive constantly managed to rake in, even while under extreme pressure.
So they obviously want me for my ability to do that,
NOT because they think im just another university maths geek whos spent the last 10years studying for hours every night and attening chess society and the Glee club!!
Lol
Spanish, if they have really been through your thread( which I doubt... ), the most credible thing is they are trying a Billy Ray Valentine experiment( watch "trading places" if you don't know what it is ).
In this case, it is a unique chance for you. They are options market makers...Don't how good at math you are, but you'd better stop trading and learn option greeks et al for the tests 'cause they won't be easy...
mebbe u can teach those hedge funds and market makers ur drop lock and engage special technique
1042 GMT [Dow Jones] There is no support for crude oil prices stemming from prompt or
near-term oil fundamentals, says brokerage firm PVM Oil Associates. "This rally is all about
oil as an inflation hedge, a dollar hedge, the lack of credible investment alternatives and
stock market correlations. Other than down-the-road fears that there will be a supply crunch
because of canceled projects, there is nothing in current oil fundamentals to support this
price rally."
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"Prices have dropped a bit this morning but remain well above $53, which is a very strong price. The question really is whether this rally is sustainable," said Victor Shum, an energy analyst with consultancy Purvin & Gertz in Singapore.
Shum said oil and other commodities have rallied in tandem with world stock markets following the U.S. government's recent measures to bail out banks and bolster an economic recovery, but downside risks remain with no signs of oil demand improving.
"Investors are hoping the U.S. government's plans will boost confidence and turn the economy around," Shum said. "But it is premature to say the oil market or oil demand has turned the corner. Inventory remain high in many locations and there is still a supply overhang in the oil market. Oil prices still remain vulnerable."
near-term oil fundamentals, says brokerage firm PVM Oil Associates. "This rally is all about
oil as an inflation hedge, a dollar hedge, the lack of credible investment alternatives and
stock market correlations. Other than down-the-road fears that there will be a supply crunch
because of canceled projects, there is nothing in current oil fundamentals to support this
price rally."
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"Prices have dropped a bit this morning but remain well above $53, which is a very strong price. The question really is whether this rally is sustainable," said Victor Shum, an energy analyst with consultancy Purvin & Gertz in Singapore.
Shum said oil and other commodities have rallied in tandem with world stock markets following the U.S. government's recent measures to bail out banks and bolster an economic recovery, but downside risks remain with no signs of oil demand improving.
"Investors are hoping the U.S. government's plans will boost confidence and turn the economy around," Shum said. "But it is premature to say the oil market or oil demand has turned the corner. Inventory remain high in many locations and there is still a supply overhang in the oil market. Oil prices still remain vulnerable."
IBADAN, Nigeria (Dow Jones)--Leaders of Nigeria's oil workers' unions have decided not to
call their members out on a three-day warning strike Tuesday, one of the leaders said Tuesday.
"The strike has been suspended following talks with government," Elijah Okougbo, general
secretary of the National Union of Petroleum and Natural Gas Workers, or NUPENG, said. "Four
committees have been set up to resolve issues raised by the unions."
He said the meeting with the government took place Monday in Abuja, the Nigerian capital.
Executives of NUPENG and its partner, the Petroleum and Natural Gas Senior Staff Association of
Nigeria, or PENGASSAN, and the Trade Union Congress then met to consider the outcome.
The unions had demanded the government tackle the worsening security situation in the Niger
Delta, where armed militants have made oil operations difficult and put workers' lives are at risk.
Okougbo said other union demands include the cancelation of plans to deregulate the
industry's downstream sector, privatize the state-owned oil refineries and end subsidies on
domestic oil products.
The union also wants the government to reverse the appointment of Cobalt International
Services Ltd. as pre-shipment inspectors for Nigeria's 21 crude oil export terminals.
call their members out on a three-day warning strike Tuesday, one of the leaders said Tuesday.
"The strike has been suspended following talks with government," Elijah Okougbo, general
secretary of the National Union of Petroleum and Natural Gas Workers, or NUPENG, said. "Four
committees have been set up to resolve issues raised by the unions."
He said the meeting with the government took place Monday in Abuja, the Nigerian capital.
Executives of NUPENG and its partner, the Petroleum and Natural Gas Senior Staff Association of
Nigeria, or PENGASSAN, and the Trade Union Congress then met to consider the outcome.
The unions had demanded the government tackle the worsening security situation in the Niger
Delta, where armed militants have made oil operations difficult and put workers' lives are at risk.
Okougbo said other union demands include the cancelation of plans to deregulate the
industry's downstream sector, privatize the state-owned oil refineries and end subsidies on
domestic oil products.
The union also wants the government to reverse the appointment of Cobalt International
Services Ltd. as pre-shipment inspectors for Nigeria's 21 crude oil export terminals.
morning.
Managed to post more gains in my ES trading yesterday.
Gonna risk some of my profits here as im well over my target so far.
Trying a short here at 53.12 - £2 per point
Managed to post more gains in my ES trading yesterday.
Gonna risk some of my profits here as im well over my target so far.
Trying a short here at 53.12 - £2 per point
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