9.1 Million Barrel Build in Crude Oil. Wow. Get The Hell Out.

Quote from brocklanders:

Look at it this way... If you did the obvious (sold after inventories) yesterday morning you would have made $1.5 - $2.0 tops (assuming you covered at the lows). If you instead bought after the "obvious" drop and held through today you would have made 8+. Of course, if you held on short since yesterday's "obvious" short, you are hurting pretty good right now.
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Yes, but thats not trading thought mate, its just taking punts and gambling basically.

In hindsight you can and will always look back n think **** if only id done that...


But at the time, yesterday afternoon oil inventory number comes out 9million, highest ever in 7years, and you only see it go down $2s...,
apart from using the ''well it didnt go down much yet so it must be gna go up', what other 'tradeable factors could you have used as a strong enough indicator to buy it???
:)



Well done if you did buy and hold it for long enough though mate, drinks on you... lol :p
 
I see resistance at 121.50 area.. :cool:

And see 35% chance itl fall as low as the 118.50 area support..

90-95% it will go back to the the 119.30 area atleast, before touching $130!! :D
 
Quote from spanish89:

Yes, but thats not trading thought mate, its just taking punts and gambling basically.

Well done if you did buy and hold it for long enough though mate, drinks on you... lol :p
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No question that selling the number yesterday was right... but most of the move since has been straight up. Buying yesterday afternoon or early this morning is not gambling. Still playing the short side only after yesterday mid-day IS gambling or emotional trading imho.
 
i expect this to last at least a few days, uso broke a downtrend line, i am pretty sure that is more than maniuplation. us dollar was also ready for a pullback after the run it had, just shutup and trade it.
 
Im selling down not for emotional reasons.. lol

But cos im looking at the future.


Yes ok oil rocketed up today for no real fundamental reason, but thats oil, it does that. ;)

But now thats been done, and over.
If you were luck enough to get in quick enough well done, you made a good trade.


But 4days up in a row, oil rocketing up like this just on such weak reasons, when the US economy is struggling even more...

We are going to see selling coming back in due to other trader's who will also start to anticiate the future demmand destruction that will come again if oil rises much more.



At the end of the day we can all debate on what we think will happen in the future...,
But itl only be in a few days time taht we can look back and see who go it right and who was unluck. :)
 
Quote from spanish89:




Yes ok oil rocketed up today for no real fundamental reason, but thats oil, it does that. ;)
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ahhh ahem the fundamental reason is "russia-US tensions" :):):)
 
Ok... we'll agree to disagree. I agree with an earlier poster that it is all dependent on your time frame. If you have wide enough stops and your time horizon is more than a few days then ok. My timeframe is numbered in the hours and I trail my stop so I could care less if it goes back down. If it does, I will be selling. no bias... no prediction. g/l
 
Quote from staffpro:

ahhh ahem the fundamental reason is "russia-US tensions" :):):)
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Yes, but that isnt anything actually solid! lol

If you are day trading oil then yes 'today' usa have signed some contracts that make russia feel trheatend and gangedup on, so it uses its best political ammo, the USA's oil.

But thats not 'the future' though.. :cool:


The US government might not care about any of its citizens really, apart from the rich 1s, or any other countries apart from rich 1s! lol

But it does care about 2 things; Its Oil & Its money.


So while today the US is being 'careless' and acting without using their brain upsetting russia,
even though Bush is a complete dork, he does have a who team of top boffins who spend their whole life just advisng him on oil prices and how to keep them lower.


And so they will be on the phone to his office today and over the next few days telling him that if he upsets russia they will limit the oil supply and so the il price the USA has to pay will rocket.


And so when thinks actually sinks in to people like bus who have such thick skulls, they will back down and let russia win!


Cos as far as USA goes, if our oil supply n money is involved **** georgia or any other country, we come 1st!! LOL
:D :cool:
 
Quote from spanish89:
even though Bush is a complete dork, he does have a who team of top boffins who spend their whole life just advisng him on oil prices and how to keep them lower.
:D :cool:
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2001: Bush takes office. Oil @ 30

2008: Bush about to leave office: after touching 146 people see oil in the 110's as "cheap" and "oversold".

Well, these "advisers" are doing a heck of a job, aren't they?

Best trading,

Jorge
 
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