CL Redux

http://af.reuters.com/article/commoditiesNews/idAFN1220021520110412

"
* Expensive oil will begin cutting global demand by next
year, the U.S. Energy Information Administration said. Demand
in the next two years will still be strong enougjh to cause a
drawdown in global inventories, it said. [ID:nI12189731]

* EIA, in a monthly forecast, said U.S. crude oil prices
could rise to $106 a barrel this year, up by $5, and by $9 to
$114 next year.

* High oil prices are starting to dent oil demand growth,
the International Energy Agency said, but an economic slowdown
could ultimately moderate prices. [ID:nLDE73B0MO]

* OPEC expects oil demand to grow 1.4 million barrels per
day this year, in line with IEA's forecast. [ID:nL9E7F700M]

* Japan put its nuclear calamity on a par with Chernobyl,
after new data showed that more radiation leaked from its
earthquake-damaged plant than first thought. [ID:nL3E7FB2TZ]

* Economic damage from Japan's earthquake and tsunami is
likely to be worse than first thought, the country's economics
minister warned. [ID:nL3E7FC092]

* Yemen opposition parties urged Gulf mediators to spell
out whether President Ali Saleh would hand over power early
under a proposal to end a crisis over reforms. [ID:nLDE73B0XI]

* Syria's main human rights movement said the death toll
from pro-democracy protests against President Bashar al-Assad
had reached 200. [ID:nLDE73B0O6]

* Forces loyal to Muammar Gaddafi bombarded the western
entrance to the rebel-held town of Ajdabiyah in eastern Libya,
a Reuters witness reported. [ID:nWEA4115]
"
 
Gentleman if you would please share your stories of how you learned to trade oil. ANYONE reading this is more than welcome to share there input thank you.
 
Quote from jfranco:

Gentleman if you would please share your stories of how you learned to trade oil. ANYONE reading this is more than welcome to share there input thank you.

just get on a demo...like trading any other future but much more volatile.

start with YM then NQ then ES then maybe 6A then go to CL... thats what i did.
 
Quote from InvestVision:

today volume looks combined vol. of last 2 sessions , seems everybody is listening to goldman sell call

As a matter of performance evaluation for the Big Short guys, they forecasted a 20% drop in crude oil on 12th of April (likely from the recent top, i.e. targetting 90 in CL):

"Using Goldman's estimates, that indicates the total speculative premium in U.S. crude oil is currently between $21.40 and $26.75 a barrel, or about a fifth of the price."

[ http://seekingalpha.com/article/263135-goldman-s-near-term-bearish-turn-on-commodities ]

Paulson's fund was their client BTW and they simply coat-tailed him in his mortgage-backed securities short from 2006-7... an ex-GS employee wrote that in a book...
 
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