CL Redux
- Thread starter schizo
- Start date
Interesting to note gold man himself commented about OPEC output RISE
- I missed this GOLDman comments in yesterday news, if it is some small fund guys comments we don't care, but gold man has say in oil markets
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Oil still falling as US economy and potential OPEC production rise push investors to sell
http://www.canadianbusiness.com/mar...nt=b5751460&utm_source=markets&utm_medium=rss
Oil hasn't been below $87 since Dec. 1. It has fallen more than four per cent since Thursday, when it was approaching $92 a barrel. About half of the drop happened in the last two days.
A big reason for the decline this week were comments on Monday by the Saudi oil minister, which many analysts and investors took to mean that Saudi Arabia, the world's biggest oil exporter, thought oil had got too expensive and could threaten global economic growth. He seemed to imply that the Saudis and other members of the Organization of Petroleum Exporting Countries might raise production to bring down the price.
Goldman Sachs analysts think it's possible that OPEC has already stepped up production. They say global demand increased in December, but oil supplies did not appear to decline at the same pace.
"It would suggest that OPEC has started to bring its spare capacity back to the market earlier than we anticipated," Goldman Sachs wrote in a note to investors.
- I missed this GOLDman comments in yesterday news, if it is some small fund guys comments we don't care, but gold man has say in oil markets
----
Oil still falling as US economy and potential OPEC production rise push investors to sell
http://www.canadianbusiness.com/mar...nt=b5751460&utm_source=markets&utm_medium=rss
Oil hasn't been below $87 since Dec. 1. It has fallen more than four per cent since Thursday, when it was approaching $92 a barrel. About half of the drop happened in the last two days.
A big reason for the decline this week were comments on Monday by the Saudi oil minister, which many analysts and investors took to mean that Saudi Arabia, the world's biggest oil exporter, thought oil had got too expensive and could threaten global economic growth. He seemed to imply that the Saudis and other members of the Organization of Petroleum Exporting Countries might raise production to bring down the price.
Goldman Sachs analysts think it's possible that OPEC has already stepped up production. They say global demand increased in December, but oil supplies did not appear to decline at the same pace.
"It would suggest that OPEC has started to bring its spare capacity back to the market earlier than we anticipated," Goldman Sachs wrote in a note to investors.
I'm putting in random buy orders at 85.50 and 85. Now spin the wheel! Just the QM 
Holding up like a champ, is it a bull trap? Now that I think about it buying at 85 would be dumb because 100 day is at 84.50 so I might as well wait for that. So buy here at 86.25 stop and reverse below 86 then cover and go long at 84.50. This shit is so easy why doesn't everyone just quit their job and trade oil?
Dollar tanking oil bouncing, shame I'm long way more DXs then QMs