anyone made a killing in oil today?

BPtrader · Sep 30, 2009

or was killed?

Uncle_Ho · Sep 30, 2009

I got smoked, donated a lot of money to CL today, anyone who killed it should thank me for the donation

Ex_d · Sep 30, 2009

CL getting wild ;-) I missed the news...what did they say?

el pollo · Sep 30, 2009

Quote from Ex_d:

CL getting wild ;-) I missed the news...what did they say?

Ever hear of EIA inventory report?

R. Raskolnikov · Sep 30, 2009

Asking someone to peek at an econ calendar each day is WAY too much to ask

Quote from el pollo:

Ever hear of EIA inventory report?

Ex_d · Sep 30, 2009

Do not pretend to be smarter :-)

I've missed report as I said.

el pollo · Sep 30, 2009

Quote from Ex_d:

Do not pretend to be smarter I've missed report as I said.

I enjoy you on the other side of my trades, keep doin' what you are doin'!

Ex_d · Sep 30, 2009

Quote from el pollo:

I enjoy you on the other side of my trades, keep doin' what you are doin'!

Who told You that I'm on the other side??

BPtrader · Sep 30, 2009

Let me replay the first minute after the report:

Some shorts got the number, what? not that bad as I thought, damn, better cover, and price shot up 40 cents in 5 seconds.

Sideliners got the number, an increase in inventory, it should go down, let's sell, and price tanked 60 cents in 20 seconds.

More traders took a look at the number, not a disasterous number at all, just a slight increase, forget about it.

Those heavy shorts didn't get what they wanted: a big drop, their original plan of covering at below $60 was not going to happen, so they started to cover, that started an unstoppable rally, the rest is history.

tmarket · Sep 30, 2009

This was a response to an EIA report for NG some time ago, but it might as well suit this occasion:

As far as Thursdayâs NYMEX goesâ¦ what was that all about? If anyone tells you they have a rational explanation for what happened in the wake of the EIA report, you should immediately dismiss them. After all, the average true-range of the April contract for the last month was 20.3 cents. The marketâs true-range yesterday was 74.9 cents. In the wake of Thursdayâs EIA report, only a trader in Stage 3 dementia would attempt to justify that.