oil has moved so far south before the open, i hope we can at least go up a bit so we have some range to trade.
5% - 10% profit per day trading
- Thread starter spanish89
- Start date
- Status
Sh 48.69
St 48.85
edit: too early, stopped out. waiting for now.
St 48.85
edit: too early, stopped out. waiting for now.
3 BEAR FACTORS ON OIL PRICE
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1) Everybody's worried about the swine flu and what it could do to air travel," said Michael Lynch, president of Strategic Energy and Economic Research in Amherst, Mass. "It's going to be on people's minds as a downside risk in the next couple of days."
2) Mideast OPEC members said Sunday that oil markets are oversupplied, but the cartel is unlikely to approve a further cut in official output quota at the meeting.
"There is a surplus (in the market), but it doesn't mean that we're heading for further cuts, no. We have to wait," Kuwait's oil minister Sheikh Ahmad Al Abdullah Al Sabah told Dow Jones Newswires in Tokyo.
Saudi Arabia's oil minister, Ali Naimi, said the current market is "definitely oversupplied", but that it would eventually tighten.
3) Crude oil has hovered near $50 a barrel for weeks as high oil inventories cap price gains. As of April 21, large speculative traders were net short, or largely betting on a price decline, in Nymex oil futures, according to Commodity Futures Trading Commission data released Friday.
The net short position of 14,605 contracts was the first since March 10 and the biggest since Nov. 11.
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1) Everybody's worried about the swine flu and what it could do to air travel," said Michael Lynch, president of Strategic Energy and Economic Research in Amherst, Mass. "It's going to be on people's minds as a downside risk in the next couple of days."
2) Mideast OPEC members said Sunday that oil markets are oversupplied, but the cartel is unlikely to approve a further cut in official output quota at the meeting.
"There is a surplus (in the market), but it doesn't mean that we're heading for further cuts, no. We have to wait," Kuwait's oil minister Sheikh Ahmad Al Abdullah Al Sabah told Dow Jones Newswires in Tokyo.
Saudi Arabia's oil minister, Ali Naimi, said the current market is "definitely oversupplied", but that it would eventually tighten.
3) Crude oil has hovered near $50 a barrel for weeks as high oil inventories cap price gains. As of April 21, large speculative traders were net short, or largely betting on a price decline, in Nymex oil futures, according to Commodity Futures Trading Commission data released Friday.
The net short position of 14,605 contracts was the first since March 10 and the biggest since Nov. 11.
sh 49.02
no stop, adding 1 more if we go up.
let's go down now
no stop, adding 1 more if we go up.
let's go down now
wow, what the hell was this spike
waiting for 50.00 to try shorting again.
Short 49.73
adding 1 more if we approach 50.00
equities are coming off their highs, it looks safe to short
adding 1 more if we approach 50.00
equities are coming off their highs, it looks safe to short
Short heavily (2 cars lol) avg price 50.08. this up move is way over done. is it time to drop back yet?
edit: out and in again. b/e for the day at 50.16. holding on, i really can't believe we're up this much. equities haven't moved in 1hr +
edit: out and in again. b/e for the day at 50.16. holding on, i really can't believe we're up this much. equities haven't moved in 1hr +
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