CL Redux

[Speciaul_K]

Quote from Gabfly1:

Could you please tell me very briefly what the API report represents, as compared to the EIA report, and when (day and time) it is released? You guys have got me eyeing CL, and I am only familiar with the weekly EIA report. Until your post, I didn't even know there was anything aside from the weekly EIA report as it relates to this market. I did a Google search, but it seems that all the "API" references I clicked on discuss the EIA report, which has a dizzying effect.

API report comes out tues @ 4.30pm est
Reporting to the api is voluntary so the numbers are rarely correct but usally in the ballpark.
Reporting to the EIA is mandatory.

 

[Speciaul_K]

Quote from Speciaul_K:

API report comes out tues @ 4.30pm est
Reporting to the api is voluntary so the numbers are rarely correct but usally in the ballpark.
Reporting to the EIA is mandatory.

Hey schizo you want to put a definition and times of eia, api, and mastercard spending pulse on the front page of this thread. That way people can be pointed to it weekly?

 

[Gabfly1]

Quote from Speciaul_K:

API report comes out tues @ 4.30pm est
Reporting to the api is voluntary so the numbers are rarely correct but usally in the ballpark.
Reporting to the EIA is mandatory.

Thank you. Much appreciated. I wanted to know when to avoid these things. Good thing this one isn't during RTH. Out of curiosity, would it be on a Wednesday if the preceding Monday is a holiday?

 

[schizo]

Quote from Speciaul_K:

Hey schizo you want to put a definition and times of eia, api, and mastercard spending pulse on the front page of this thread. That way people can be pointed to it weekly?

Will do. But before I do, can you provide me with all other fundamentally pertinent info that crude traders should consider? compile all the important events that occur throughout the week with the dates, time, and their respective website, etc. You can either send me a PM or post it here.

In order to modify the first post, I would need to ask the forum nanny (which is always a pain in the ass) so I want to do it right the first time. Thanks for the consideration.

 

[schizo]

Quote from Gabfly1:

Thank you. Much appreciated. I wanted to know when to avoid these things. Good thing this one isn't during RTH. Out of curiosity, would it be on a Wednesday if the preceding Monday is a holiday?

I believe it is. They moved it back when the snow storm struck the east coast a couple months ago.

 

[schizo]

Quote from Speciaul_K:

Reporting to the api is voluntary...Reporting to the EIA is mandatory.

Except for the fact that it has been revealed that EIA isn't all that accurate and those who work for EIA ain't all that bright either.

http://online.wsj.com/article/SB10001424052748703580904575132070849202574.html

http://oilprice.com/article-flaws-in-weekly-eia-inventory-reports.html

 

[increasenow]

does or has anyone here traded CL options?...anyone got CL puts right now?...not calls surely...

 

[Gabfly1]

Quote from schizo:

I believe it is. They moved it back when the snow storm struck the east coast a couple months ago.

Thank you. But what's this about Mastercard spending? Also, just curious, do you guys normally trade outside of RTH?

 

[schizo]

Quote from Gabfly1:

Thank you. But what's this about Mastercard spending? Also, just curious, do you guys normally trade outside of RTH?

It's purely psychological. As you know, most consumers swipe their plastic at the pump. So I suppose it provides a window into consumers' appetite for oil or the lack thereof.

Anyway, has anyone seen one of these MC reports? Is there a specific mention about how much is being spent at the pump?

 

[schizo]

Quote from increasenow:

does or has anyone here traded CL options?...anyone got CL puts right now?...not calls surely...

Not often, but I did lose a small fortune from CL puts last month.