The other thing is it was totally unpredictable it would climb to 102.50. That was from the China helping Europe news. Without that news it doesn't go there. My guess it would climb there came after the China news broke last night. Could have done an overnight trade, but I usually don't. I like to keep an eye on things now.
CL Redux
- Thread starter schizo
- Start date
Feb. 15, 2012, 10:00 a.m. EST
Feb. NAHB builder gauge hits more than 4-year high
WASHINGTON (MarketWatch) - Home builder confidence in the market for new single-family homes climbed in February for the fifth straight month to reach the highest level in more than four years, according to a survey released Wednesday. The National Association of Home Builders/Wells Fargo housing market index rose to 29 in February from 25 in January, meaning the gauge has more than doubled since September. Economists polled by MarketWatch had expected a reading of 26. Though that's still far below the level considered "good" - the seasonally adjusted gauge needs a reading of 50 to do that, which hasn't been the case since April 2006 - it does indicate improving sentiment for builders. The home-builder gauge tracks closely with single-family housing starts, with the January data from that series due for release from the Commerce Department on Thursday.
Feb. NAHB builder gauge hits more than 4-year high
WASHINGTON (MarketWatch) - Home builder confidence in the market for new single-family homes climbed in February for the fifth straight month to reach the highest level in more than four years, according to a survey released Wednesday. The National Association of Home Builders/Wells Fargo housing market index rose to 29 in February from 25 in January, meaning the gauge has more than doubled since September. Economists polled by MarketWatch had expected a reading of 26. Though that's still far below the level considered "good" - the seasonally adjusted gauge needs a reading of 50 to do that, which hasn't been the case since April 2006 - it does indicate improving sentiment for builders. The home-builder gauge tracks closely with single-family housing starts, with the January data from that series due for release from the Commerce Department on Thursday.
Agree.Quote from Picaso:
Anyone wants to bet?:
Huge inventories draw --> after 5 minutes we drop a full buck
Good luck/skill everyone!
I was thinking about how it might react last night. But given the market movements today that call seems likely. Market feels toppy as I mentioned. We'll see what happens. Stay tuned.Greece struggling to meet European Demands.
http://www.marketwatch.com/Story/story/print?guid=3C0189A2-57D9-11E1-9092-002128040CF6
European indices look rather weak today too.
http://www.marketwatch.com/Story/story/print?guid=3C0189A2-57D9-11E1-9092-002128040CF6
European indices look rather weak today too.
Feb. 15, 2012, 10:19 a.m. EST
Oil pares gain after Iranian supply halt denied
SAN FRANCISCO (MarketWatch) -- Crude-oil futures pared gains on Wednesday after Iranian officials and Italy's foreign minister denied Iran had cut oil supplies to Europe, according to news reports. The March contract (NMN:CL2H) was up 71 cents, or 0.7%, to $101.48 a barrel on the New York Mercantile Exchange. Dow Jones Newswires quoted Italy's Giulio Terzi as saying Italy's embassador in Tehran had said the report, by a state-controlled broadcaster, wasn't true. Reuters quoted a Iranian oil ministry spokesman also denying the report and adding any decisions would have to be announced by Iran's Supreme National Security Council. The report that Iran had cut off oil supplies to six European countries in retaliation to European Union sanctions had pushed oil futures to a five-week high.
Oil pares gain after Iranian supply halt denied
SAN FRANCISCO (MarketWatch) -- Crude-oil futures pared gains on Wednesday after Iranian officials and Italy's foreign minister denied Iran had cut oil supplies to Europe, according to news reports. The March contract (NMN:CL2H) was up 71 cents, or 0.7%, to $101.48 a barrel on the New York Mercantile Exchange. Dow Jones Newswires quoted Italy's Giulio Terzi as saying Italy's embassador in Tehran had said the report, by a state-controlled broadcaster, wasn't true. Reuters quoted a Iranian oil ministry spokesman also denying the report and adding any decisions would have to be announced by Iran's Supreme National Security Council. The report that Iran had cut off oil supplies to six European countries in retaliation to European Union sanctions had pushed oil futures to a five-week high.
My mentor told me that it's the several big plays that make the money.
So I have gone short big time at 101.50 (50 contracts).
Do or die.
So I have gone short big time at 101.50 (50 contracts).
Do or die.
