It seems Mkt closed , I am not getting bars , half day Mkt
CL Redux
- Thread starter schizo
- Start date
The fascinating thing about oil is that it is not actually a global market but splintered into some local markets with anomalies such as "the Cushing Syndrome" (not Cushing's disease) making the lighter and easier to refine WTI + CIF trade at a significant discount to less valuable Brent.
True world markets -- metals -- do not trade that way except in countries that tax or otherwise interfere with the flow. I have heard this myth for years about oil being a world market but has been nonsense forever.
My guess is that the spread between WTI and Brent will not go too much higher (except for very brief periods) or else aggressive shippers will start to truck oil from Cushing depots to the Gulf (or maybe the Mississippi) for Brent delivery. Expensive but much above $15 a barrel it seems quite doable
True world markets -- metals -- do not trade that way except in countries that tax or otherwise interfere with the flow. I have heard this myth for years about oil being a world market but has been nonsense forever.
My guess is that the spread between WTI and Brent will not go too much higher (except for very brief periods) or else aggressive shippers will start to truck oil from Cushing depots to the Gulf (or maybe the Mississippi) for Brent delivery. Expensive but much above $15 a barrel it seems quite doable
Quote from Locutus:
CL is a global market and finds equilibrium between total demand and total supply, so who cares which parties trade with whom? If the total supply is reduced, price goes up.
Mind you I don't disagree with the premise that it's going down. Today's bump was on barely any volume and it's not like any rebels or w/e new kinda government passes there is not going to want to make teh moneh. Probably a lot of small specs who think they're geniuses by trading the news. Will be interesting to see what happens when the big boys return to the table tomorrow.
Holy $hit! WTI is currently 97.02 and im seeing an intraday high print of 97.49 on globex!!!
a ten dollar move in 2 trading sessions........
a ten dollar move in 2 trading sessions........
WTI also trades on ICE Europe, which is open for trading right now (although spreads are currently huge! 97.03-97.40). During normal trading hours on regular days the WTI on Nymex and ICE trade at exactly the same price (give or take a tick!)
My sentiments exactly - this is some scary shit...... Wanna get short, cos theres been hardly any pullbacks so far, but you need serious stones for that :eek:
Are you still short?
There was a time once when my stop loss didn't activate, but fortunately I was in front of the platform actively trading and was able to close out manually. Can you sue your broker if you're not there to see it fail and it costs you a week's pay?
I'm not averse to a pure counter-trend trade, but right now we're in outer space. There is no overhead resistance. Resistance is futile
This is Robert Weinstein's trading domain, fading strong moves into the stratosphere. He's younger than me and his heart can handle the stress
