CL Redux
- Thread starter schizo
- Start date
yessir. i had been looking for this all morning. thanks for finding it.
out 97.10
holding that 95 line just above 2 ticks is epic , of course it has to hold given Equities and Euro and not selling big way ( even at that time ).
gasoline RBOB gave some directional clues for CL today ...
gasoline RBOB gave some directional clues for CL today ...
I realized the triple bottom.
I did not trade today, I was on field trip with my schoolers.
before I left, I wrote a limit order at 96.125with JULY qm and 1point stop. it is filled. added 1lot 97.6 at the closing
I think this train will finally flip over to 105.6.
my stop is moved to 97.6 to lock some profit, preapared to hold and add if it goes more higher.
I did not trade today, I was on field trip with my schoolers.
before I left, I wrote a limit order at 96.125with JULY qm and 1point stop. it is filled. added 1lot 97.6 at the closing
I think this train will finally flip over to 105.6.
my stop is moved to 97.6 to lock some profit, preapared to hold and add if it goes more higher.
What's up everyone? I've been reading up on the thread as much as I can, but unfortunately the 9-5 has been extremely busy and I haven't been able to participate. I hope you are all doing well.
I've also been tinkering with a little paintbar strategy for TOS, in hopes of locking down some of my volume conditions automatically. I think it's getting there, but I have to do more testing to see if it is exactly where I want it. Strangely enough, it seems to work really well on the NQ out of all instruments, although I have no idea why it would work better on one instrument and not another.
http://i262.photobucket.com/albums/ii90/bigsnack/2011-05-17-TOS_CHARTS_CLAM.png
Hopefully I will have some more time to check out the thread in the coming weeks. It's been too bad that I've had to bail out when this thread really started to pick up.
I've also been tinkering with a little paintbar strategy for TOS, in hopes of locking down some of my volume conditions automatically. I think it's getting there, but I have to do more testing to see if it is exactly where I want it. Strangely enough, it seems to work really well on the NQ out of all instruments, although I have no idea why it would work better on one instrument and not another.
http://i262.photobucket.com/albums/ii90/bigsnack/2011-05-17-TOS_CHARTS_CLAM.png
Hopefully I will have some more time to check out the thread in the coming weeks. It's been too bad that I've had to bail out when this thread really started to pick up.
Oil futures rise as dollar extends declines
May 18, 2011, 1:37 a.m. EDT
http://www.marketwatch.com/story/oil-futures-gain-as-dollar-declines-2011-05-17
Weak housing data, which helped inflame concerns about U.S. demand levels, contributed to the downward price pressure on Tuesday.
1/ The American Petroleum Institute (API) inventory report showed
- crude-oil supplies rose 2.7 million barrels in the week ended May 13.
- Gasoline stocks declined 676,000 barrels, and
- stockpiles of distillates down 2.8 million, the trade group said late Tuesday.
The API data came ahead of the more closely watched Department of Energy report, due later Wednesday.
1.2/ Analysts polled by Platts expect
- oil inventories to increase 500,000 barrels.
- Gasoline stockpiles are seen up 550,000 barrels,
- while distillates stocks are expected to rise 600,000 barrels.
2/ Analysts at Barclays Capital said the U.S. remains the focus for the energy market, and supply disruptions caused by flooding along the Mississippi River are likely to pressure stock-builds.
âThe recent floods and power outages have created an illusion of severe weakness in underlying demand. While growth rates are slowing down, underlying U.S. oil demand for May is ultimately likely to turn out stronger than the apparent consumption figures show,â the analysts said.
âWhile the short-term direction of trade could very well be sideways amid heightened volatility, structurally, the risk to the upside outweighs those to the downside,â the analysts said.
3/ The dollar extended weakness during Asian trading hours, which helped renew appetites for energy, as well as other commodities
May 18, 2011, 1:37 a.m. EDT
http://www.marketwatch.com/story/oil-futures-gain-as-dollar-declines-2011-05-17
Weak housing data, which helped inflame concerns about U.S. demand levels, contributed to the downward price pressure on Tuesday.
1/ The American Petroleum Institute (API) inventory report showed
- crude-oil supplies rose 2.7 million barrels in the week ended May 13.
- Gasoline stocks declined 676,000 barrels, and
- stockpiles of distillates down 2.8 million, the trade group said late Tuesday.
The API data came ahead of the more closely watched Department of Energy report, due later Wednesday.
1.2/ Analysts polled by Platts expect
- oil inventories to increase 500,000 barrels.
- Gasoline stockpiles are seen up 550,000 barrels,
- while distillates stocks are expected to rise 600,000 barrels.
2/ Analysts at Barclays Capital said the U.S. remains the focus for the energy market, and supply disruptions caused by flooding along the Mississippi River are likely to pressure stock-builds.
âThe recent floods and power outages have created an illusion of severe weakness in underlying demand. While growth rates are slowing down, underlying U.S. oil demand for May is ultimately likely to turn out stronger than the apparent consumption figures show,â the analysts said.
âWhile the short-term direction of trade could very well be sideways amid heightened volatility, structurally, the risk to the upside outweighs those to the downside,â the analysts said.
3/ The dollar extended weakness during Asian trading hours, which helped renew appetites for energy, as well as other commodities
Oil Falls Near Three-Month Low as Housing Start Drop Damps Growth Outlook
May 17, 2011 1:50 PM PT -- <b>Tuesday EOD report </b>
Oil fell to the lowest price in almost three months
- as U.S. housing starts dropped
- and industrial output stalled in April,
damping optimism about the economic and fuel-demand outlook.
http://www.bloomberg.com/news/2011-...decline-damping-economic-growth-optimism.html
- Supplies rose 1.7 million barrels in the week ended May 13,
- Gasoline stockpiles increased 950,000 barrels last week
- distillate fuel, a category that includes heating oil and diesel, probably climbed by 250,000 barrels.
according to the median of 15 estimates in a Bloomberg News survey of analysts. A gain of that size would leave inventories at 372 million barrels, the highest level since the week ended May 1, 2009.
Market Pressure
<b>âMost folks are expecting another inventory build in tomorrowâs report,â said Addison Armstrong, director of market research at Tradition Energy in Stamford, Connecticut. âThis is putting pressure on the market.â
<< this item is one of the factor on Tuesday for that drop to 95.0 level .. >>
</b>
Mississippi River water pouring through 15 gates on Louisianaâs Morganza floodway has greatly reduced the risk of flooding to oil refineries that account for about 14 percent of U.S. capacity.
The Mississippi crested at about 17 feet in New Orleans yesterday, 2.5 feet below the forecast, and is expected to top out at 45 feet tomorrow in Baton Rouge, below a record 47.5 that was expected by May 22, according to the U.S. Lower Mississippi River Forecast Centerâs website.
<b>âOvernight news continues to indicate that the flooding problems at refineries on the Mississippi River are unlikely to be as bad as previously feared,â JPMorgan Chase & Co. analysts led by New York-based Lawrence Eagles, said in a report today. âThe opening of the Morganza spillway over the weekend has spared the worst of the flooding for the concentration of refining assets near Baton Rouge, New Orleans and St. Charles.â</b>
<< this gates opening relieved the fear of flooding at Refinaries hence reverse of Friday CL premium built based on this issue.
- It seems this put Pressure on CL both on Monday and Tuesday also ..
>>
-----
<b>Crude slipped 0.5 percent after the Commerce Department said work began on 523,000 houses at an annual pace, down 11 percent from March. Production at factories, mines and utilities was unchanged, the Federal Reserve reported today. Yesterday, the dollar touched the highest level against the euro since March 29, reducing the appeal of commodities.
âThe terrible housing numbers added to worries about the economy and demand destruction,â said Phil Flynn, vice president of research at PFGBest in Chicago. âWeâre facing what could be the biggest washout since 2008, especially if the dollar continues to rally.â </b>
Crude oil for June delivery dropped 46 cents to $96.91 a barrel on the New York Mercantile Exchange, the lowest settlement since Feb. 22. Futures have risen 38 percent in the past year.
Prices rebounded from the settlement after the American Petroleum Institute reported at 4:30 p.m. in Washington that U.S. crude-oil stockpiles increased 2.67 million barrels to 369.9 million. June oil rose 1 cent to $97.38 a barrel in electronic trading at 4:31 p.m.
Brent oil for July settlement declined 85 cents, or 0.8 percent, to end the session at $109.99 a barrel on the London- based ICE Futures Europe exchange.
Oil in New York tumbled from a record $147.27 a barrel in July 2008 to a low of $32.40 in December of that year as the deepest economic slump since World War II reduced fuel demand.
<b>Home Construction</b>
Builders were forecast to start constructing 569,000 homes in April, according to the median forecast of 74 economists surveyed by Bloomberg News.
Total U.S. manufacturing fell 0.4 percent, while it rose 0.2 percent excluding automobiles, according to the Federal Reserve report. Economists had forecast a 0.4 percent gain in industrial production, according to the median estimate in a Bloomberg News survey.
âSome negative economic numbers have taken a lot of the froth out of the market,â said Chris Barber, a senior analyst at Energy Security Analysis Inc. in Wakefield, Massachusetts. âFocus has shifted to the huge surplus we have on hand.â
A âDudâ
âEconomic news has been driving the market lately, and there hasnât been a lot of good economic news,â said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. âThe summer driving season was the last hope for the bulls, but now that looks like a dud.â
May 17, 2011 1:50 PM PT -- <b>Tuesday EOD report </b>
Oil fell to the lowest price in almost three months
- as U.S. housing starts dropped
- and industrial output stalled in April,
damping optimism about the economic and fuel-demand outlook.
http://www.bloomberg.com/news/2011-...decline-damping-economic-growth-optimism.html
- Supplies rose 1.7 million barrels in the week ended May 13,
- Gasoline stockpiles increased 950,000 barrels last week
- distillate fuel, a category that includes heating oil and diesel, probably climbed by 250,000 barrels.
according to the median of 15 estimates in a Bloomberg News survey of analysts. A gain of that size would leave inventories at 372 million barrels, the highest level since the week ended May 1, 2009.
Market Pressure
<b>âMost folks are expecting another inventory build in tomorrowâs report,â said Addison Armstrong, director of market research at Tradition Energy in Stamford, Connecticut. âThis is putting pressure on the market.â
<< this item is one of the factor on Tuesday for that drop to 95.0 level .. >>
</b>
Mississippi River water pouring through 15 gates on Louisianaâs Morganza floodway has greatly reduced the risk of flooding to oil refineries that account for about 14 percent of U.S. capacity.
The Mississippi crested at about 17 feet in New Orleans yesterday, 2.5 feet below the forecast, and is expected to top out at 45 feet tomorrow in Baton Rouge, below a record 47.5 that was expected by May 22, according to the U.S. Lower Mississippi River Forecast Centerâs website.
<b>âOvernight news continues to indicate that the flooding problems at refineries on the Mississippi River are unlikely to be as bad as previously feared,â JPMorgan Chase & Co. analysts led by New York-based Lawrence Eagles, said in a report today. âThe opening of the Morganza spillway over the weekend has spared the worst of the flooding for the concentration of refining assets near Baton Rouge, New Orleans and St. Charles.â</b>
<< this gates opening relieved the fear of flooding at Refinaries hence reverse of Friday CL premium built based on this issue.
- It seems this put Pressure on CL both on Monday and Tuesday also ..
>>
-----
<b>Crude slipped 0.5 percent after the Commerce Department said work began on 523,000 houses at an annual pace, down 11 percent from March. Production at factories, mines and utilities was unchanged, the Federal Reserve reported today. Yesterday, the dollar touched the highest level against the euro since March 29, reducing the appeal of commodities.
âThe terrible housing numbers added to worries about the economy and demand destruction,â said Phil Flynn, vice president of research at PFGBest in Chicago. âWeâre facing what could be the biggest washout since 2008, especially if the dollar continues to rally.â </b>
Crude oil for June delivery dropped 46 cents to $96.91 a barrel on the New York Mercantile Exchange, the lowest settlement since Feb. 22. Futures have risen 38 percent in the past year.
Prices rebounded from the settlement after the American Petroleum Institute reported at 4:30 p.m. in Washington that U.S. crude-oil stockpiles increased 2.67 million barrels to 369.9 million. June oil rose 1 cent to $97.38 a barrel in electronic trading at 4:31 p.m.
Brent oil for July settlement declined 85 cents, or 0.8 percent, to end the session at $109.99 a barrel on the London- based ICE Futures Europe exchange.
Oil in New York tumbled from a record $147.27 a barrel in July 2008 to a low of $32.40 in December of that year as the deepest economic slump since World War II reduced fuel demand.
<b>Home Construction</b>
Builders were forecast to start constructing 569,000 homes in April, according to the median forecast of 74 economists surveyed by Bloomberg News.
Total U.S. manufacturing fell 0.4 percent, while it rose 0.2 percent excluding automobiles, according to the Federal Reserve report. Economists had forecast a 0.4 percent gain in industrial production, according to the median estimate in a Bloomberg News survey.
âSome negative economic numbers have taken a lot of the froth out of the market,â said Chris Barber, a senior analyst at Energy Security Analysis Inc. in Wakefield, Massachusetts. âFocus has shifted to the huge surplus we have on hand.â
A âDudâ
âEconomic news has been driving the market lately, and there hasnât been a lot of good economic news,â said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. âThe summer driving season was the last hope for the bulls, but now that looks like a dud.â