blooming builders are here and cut the power there for a while. Annoying, lol.
5% - 10% profit per day trading
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http://finance.yahoo.com/news/Oil-rises-on-positive-US-data-apf-14750977.html
Gains in global stock markets also supported oil prices, and the uptick in sentiment appeared to be enough to temper concerns over sharply accumulating inventories in the U.S., although analysts warned this may not last.
"Without the continued support of equities, crude oil should have more difficulties to move above the $55-a-barrel mark as the fundamentals are not yet providing enough evidence of a tightening market," said Olivier Jakob of Petromatrix in Switzerland.
Oil prices fell Wednesday -- the contract lost $1.21 to settle at $52.77 a barrel -- on news that crude in storage last week rose 3.3 million barrels to 356.6 million barrels, according to the Energy Information Administration Wednesday, much more than what was expected. The figure marks a 15.6 percent rise from year-ago levels, and stockpiles are now at their highest level since 1993.
But traders seemed to shake that off amid hopeful signs in the United States, the world's biggest oil consumer.
"We could see today the rally go slightly higher from here on yesterday's figures," said Christoffer Moltke-Leth, head of sales trading at Saxo Capital Markets in Singapore. "You have a little modest rally in Asia on the back of that, and that's sort of helping crude a bit."
Most Asian markets gained after a late rally on Wall Street Wednesday that lifted the Dow Jones industrials 1.2 percent, while European markets were only slightly higher.
But Moltke-Leth warned against reading too much into Thursday's bump. He predicted that prices will be capped around $55 and could fall as low as $43 a barrel over the next two weeks as other big countries release key economic indicators that could very likely be grim.
"Traders are so desperate that they are now buying, not on fundamentals, but rather on fear of missing out before this market heads back into the toilet," said The Schork Report, edited by U.S. oil analyst and trader Stephen Schork.
Japan, which said exports plunged by nearly half in February, will release a quarterly business sentiment survey called the "tankan" next Wednesday that experts say is likely to be quite gloomy.
"Japan is the world's third-largest oil consumer, and the tankan is expected to drop to a 30-year low," Moltke-Leth said. "I see more demand destruction down the way."
Gains in global stock markets also supported oil prices, and the uptick in sentiment appeared to be enough to temper concerns over sharply accumulating inventories in the U.S., although analysts warned this may not last.
"Without the continued support of equities, crude oil should have more difficulties to move above the $55-a-barrel mark as the fundamentals are not yet providing enough evidence of a tightening market," said Olivier Jakob of Petromatrix in Switzerland.
Oil prices fell Wednesday -- the contract lost $1.21 to settle at $52.77 a barrel -- on news that crude in storage last week rose 3.3 million barrels to 356.6 million barrels, according to the Energy Information Administration Wednesday, much more than what was expected. The figure marks a 15.6 percent rise from year-ago levels, and stockpiles are now at their highest level since 1993.
But traders seemed to shake that off amid hopeful signs in the United States, the world's biggest oil consumer.
"We could see today the rally go slightly higher from here on yesterday's figures," said Christoffer Moltke-Leth, head of sales trading at Saxo Capital Markets in Singapore. "You have a little modest rally in Asia on the back of that, and that's sort of helping crude a bit."
Most Asian markets gained after a late rally on Wall Street Wednesday that lifted the Dow Jones industrials 1.2 percent, while European markets were only slightly higher.
But Moltke-Leth warned against reading too much into Thursday's bump. He predicted that prices will be capped around $55 and could fall as low as $43 a barrel over the next two weeks as other big countries release key economic indicators that could very likely be grim.
"Traders are so desperate that they are now buying, not on fundamentals, but rather on fear of missing out before this market heads back into the toilet," said The Schork Report, edited by U.S. oil analyst and trader Stephen Schork.
Japan, which said exports plunged by nearly half in February, will release a quarterly business sentiment survey called the "tankan" next Wednesday that experts say is likely to be quite gloomy.
"Japan is the world's third-largest oil consumer, and the tankan is expected to drop to a 30-year low," Moltke-Leth said. "I see more demand destruction down the way."
All the buying in oil is coming from equity market strength .
Every fund manger know that if stock market bottom out here and rise from this point on for next couple of months , the safest and top high return sector is energy sector ( all companies involving oil, gas ) etc. so they are all buying energy sector stocks and oil .
if you can give me S&P price I can give you oil price
S&P 850 , oil 55
S&P 900 , oil 60
what I meant was those S&P numbers are not just daily or week numbers but base line numbers which should be month avarages
Yeah I think you are right about that. Too bad I didn't see this rally 2 weeks ago. Now I feel like I have missed boat and its too late to jump on board.
i felle even more gutted taht i saw it 4x at the los and bought each time, and let made barley anything form it cos i dont hold trades for long.
atleast i can forget about trading for a while now tho.
fel veyr guted that i made that trend-trade lastnight though.
As it wiped out 2/3s of my profit for the week
Quote from spanish89:
i felle even more gutted taht i saw it 4x at the los and bought each time, and let made barley anything form it cos i dont hold trades for long.
atleast i can forget about trading for a while now tho.
fel veyr guted that i made that trend-trade lastnight though.
As it wiped out 2/3s of my profit for the week
sorry to hear that dude. Whats your capital now?
I going to see if I can get some sleep. There is nothing to trade right now.
Aloha mate, i withdrew £800 yesterday for the rent for next month.
so had just 220 left.
Lost 99 on the trade, so undid all of yesterdays profit. So just left with mondays profit.
And now i jsut have to wait till the government stop being lazy n send the housing benefits money and jobseekers allowacne money to me.
(They should have paid it back at the start of Febuary, but they are extremely lazy and incompetent at doing their job)
But hopefully il get that into my bank next week, so i can put it inot my trading account and use it to make enough money t buy some food. :/
(The money they pay under 25s for housing benefit is £360 per month, so just half of my rent. And so even when i add jobseekers money £160 per month, im still over £100 short on rent, and with no money for food or bills)
So survival is tough!
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