5% - 10% profit per day trading

Status
Not open for further replies.
Swine flu is pushing crude oil futures lower for a second day, raising concerns
that further spread of the disease could curb economic activity and oil demand. Oil prices have
fallen as low as $48.55/bbl, following Monday's trading pattern. Futures rebounded yesterday to
end above $50/bbl, and have plenty of time to do the same today. June crude trades at
$49.13/bbl, down $1.01
 
Wall Street is set to open lower Tuesday on worries about the spread of swine flu and the viability of banks.

1) Concerns that swine flu could hurt industries such as travel and tourism are escalating after the World Health Organization said it is too late to contain the virus. The WHO raised its alert to a phase 4 out of 6, saying the flu spreads easily but is not pandemic.

2) Investors are nervous that banks' souring assets could also hinder the economy's recovery. The Wall Street Journal reported Tuesday that U.S. regulators told Bank of America Corp. and Citigroup Inc. the companies may need to raise more capital.

Regulators briefed officials at the 19 biggest U.S. banks on Friday about the "stress tests" they conducted on them, but are not planning to release the results publicly until May 4.



3) Later Tuesday, the Federal Reserve will begin its two-day meeting on interest rates. The Fed has already lowered its target rate to a range of zero to 0.25 percent and started buying Treasurys in an effort to keep market rates low.

Investors are curious about the central bank's assessment of the economy, and whether it will accelerate its purchases of Treasurys.
 
Pace of home-price declines slows:
--------------------------------------------
WASHINGTON (MarketWatch) -- Home prices fell 2.2% in 20 major cities in February after a 2.8% decline in January, according to the Case-Shiller home price index released Tuesday by Standard & Poor's. Prices in 20 cities are down 18.6% in the past year, compared with a 19% drop in the 12 months ending in January.

It was the first time in 16 months that the decline in prices did not set an annual record.

Prices fell in all 20 major cities in February, led by a 5% drop in Cleveland
 
1) Markets worldwide on Tuesday were affected by a report in The Wall Street Journal that Bank of America and Citigroup have been told to raise more capital based on early results of the government's stress test. Executives at both banks are objecting to the preliminary findings, the report said.

In pre-market trade, Bank of America dropped 9.6% and Citi fell nearly 7%.

"Among the many delicate points, you have to wonder where the government will get the funds to bail some of the top 19 banks out they don't want to let go," said Kenneth Broux, an economist at Lloyds TSB Corporate Markets. "In other words, as the article makes clear, either the banks will have to tap private investors, the capital markets, or see the government preference share holding converted into ordinary shares."

2) Meanwhile, the swine flu outbreak took a toll on Asia and Europe travel stocks for a second straight session as the World Health Organization raised its threat level to Phase 4 from Phase 3. US Airways fell 10% in pre-market action.

"We believe if concerns rose to SARS type levels, which we believe is very unlikely, then markets could fall 10% to 15%," said strategists at Credit Suisse, referring to the severe acute respiratory syndrome outbreak which struck Asia in 2003.
 
unbelievable weakness in oil even on the strength of equity markets
- it seems weak oil price is weighing more on strong dollar ( EURUSD) than on strong equity market

- i let go lots of profit due to this oil weakness
- it feels like oil may not top 50.0 today
 
i haven't put in a trade yet today. not sure what oil is doing, but it's moving pretty choppily. i agree though IV, definitely going to look for a short if we can get close to 50.00
 
U.S. stocks turn up on rise in consumer confidence

Last update: 10:07 a.m. EDT April 28, 2009

NEW YORK (MarketWatch) -- U.S. stocks tossed aside the bulk of early losses on Tuesday after a report showing consumer confidence jumped in April

- Investors see positive signs in consumer-confidence data, taking the sting out of worries over Citigroup, Bank of America and stress tests
 
for EURUSD change from 1.30 to 1.31 we see oil spike 15 pennies in last 5 min ...

Quote from InvestVision:

unbelievable weakness in oil even on the strength of equity markets
- it seems weak oil price is weighing more on strong dollar ( EURUSD) than on strong equity market

- i let go lots of profit due to this oil weakness
- it feels like oil may not top 50.0 today
More...
 
Oil Inventories Seen Rising


NEW YORK -- U.S. crude oil inventories are expected to increase for the eighth-straight week in data due Wednesday from the Department of Energy, according to a Dow Jones Newswires survey of analysts.

The data, put out by the department's Energy Information Administration unit and covering the week ended April 24, are due to be released at 10:30 a.m. EDT Wednesday. Separate weekly U.S. oil data from the American Petroleum Institute are due at 4:30 p.m. EDT Tuesday.

Crude oil inventories are expected to show an increase of 2.3 million barrels, according to the mean of six analysts' forecasts. All of the analysts predict an increase, with estimates ranging from 1.5 million barrels to 3.5 million barrels.

Gasoline inventories are expected to have declined 300,000 barrels, according to the analysts' average, with four analysts predicting a draw and two a build. Estimates range from a decline of 1 million barrels to a build of 800,000 barrels.

Stocks of distillates, which include heating oil and diesel fuel, are expected to have increased 200,000 barrels. Analysts are evenly split on whether inventories will show an increase or a decrease, with forecasts ranging from a draw of 750,000 barrels to a build of 1 million barrels.

Refinery use is seen unchanged at 83.4% of capacity.

U.S. oil inventories are at 370.6 million barrels, the most since September 1990. Stockpiles peaked that year at 391.9 million barrels in July, still the highest level reported since at least 1982. Analysts' Estimates Analyst

Analysts' Estimates
Analyst Crude Gasoline Distillates Refining
Cameron Hanover +3 -1 -0.75 +0.25
Citi Futures Persp. +1.5 -1 +1 -1
MF Global-Fitzpatrick +1.8 -0.9 -0.6 +0.5
Ritterbusch & Assoc +1.5 -0.4 -0.4 unch
Summit Energy +2.5 +0.75 +1 +0.5
Tradition Energy +3.5 +0.8 +1 unch

Average Estimate +2.3 -0.3 +0.2 unch
 
Status
Not open for further replies.
Back
Top