Well you're bad at it. The bulls got pretty much everything they could have hoped for out of this report including big inventory draws in all products and record high product demand - however, it appears it took the machines a little longer to read down the report and spot the fact that production soared to new cycle highs... and WTI/RBOB prices are tumbling.
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Well you're bad at it. The bulls got pretty much everything they could have hoped for out of this report including big inventory draws in all products and record high product demand - however, it appears it took the machines a little longer to read down the report and spot the fact that production soared to new cycle highs... and WTI/RBOB prices are tumbling.
Man how can you trade oil and not at least be aware of the reports.
Yeah, sure you trade off of price, but the reports are usually areas of volatility.
That's the information that anyone should derive from this.
Some trade the reports, some avoid them; that's discretionary.
It may not matter as much for a long term trade, but the timing is something to be aware of.
Timing is everything, right derivativesguy?
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News is too much information since it's too difficult for the retail trader to determine direction from news. I disregard news entirely an only use chart/price/indicator combo.Yeah, sure you trade off of price, but the reports are usually areas of volatility.
That's the information that anyone should derive from this.
Some trade the reports, some avoid them; that's discretionary.
It may not matter as much for a long term trade, but the timing is something to be aware of.
Timing is everything, right derivativesguy?
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And end of day settlement price ; most have voted by then..................................................
Settlement price has no bearing on price movement upon market re-open (with futures at least). Come on Murray, you're better than that.
Settlement price is the most important price of the day. Murray, you don't need to take this vitriol.Settlement price has no bearing on price movement upon market re-open (with futures at least). Come on Murray, you're better than that.