CL Redux

Quote from NoDoji:

BCE, when I started day trading in mid 2008, I did really well at first. I then screwed myself trying to swing for larger moves. I personally think there's more overall profit (at the end of any given month) trading CL in smaller chunks.
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Quote from mfbreakout:

Breakout traders should be using smaller OR like 5 minutes etc. Traders who try to mix and trade different time frame OR like 5 minutes for breakout and 45 minutes for fades etc. will not succeed over a long period of time. One has to pick one style and stick with it and PRACTICE the hell out of the set ups.
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Just noticed the bottom post here in the other crude thread. Reminded me of yours NoDoji, even though they're not expressing the exact same idea. Complimentary posts maybe.

ADD: I'm heading back to bed here in a second. Not enough sleep last week or yesterday either for that matter. Poor body. Remember to say nice things about me at the funeral and memorial service.

ADD2: BTW the spell checker wanted to change your name from NoDoji to NoDoz. :)
 
I am not sure anyone is short like me, but if you are short, you may get some help from the news that US is "considering" to release some strategic oil reserve.

I hope this "considering" will bring some relief to the shorts, taking a few dollars off the price. I don't mind 106 on Monday....:) If equities market cooperate (that Greek deal is a unilateral one, private bond holders may not join in.....), Monday broad market tanks......

Then Tuesday and Wednesday inventory numbers kick in, we will probably see 101-102.

Of course all this does not cover the fact that I am a very bad trader. I let small mistakes turn into big mistakes.
 
Purely my own viewpoint: supply IS constrained. Saudi are pumping, but how much more can they pump to make up for Iran? Can easily see oil at record highs this year. Note what will happen to the stock market if oil continues to move up, bearish for earnings, stocks are bound to correct sharply.

Petrol prices have crept up here in the UK and people are noticing. Diesel (no idea what that is called in US) is at record highs.
 
Quote from Visaria:

Purely my own viewpoint: supply IS constrained. Saudi are pumping, but how much more can they pump to make up for Iran? Can easily see oil at record highs this year. Note what will happen to the stock market if oil continues to move up, bearish for earnings, stocks are bound to correct sharply.

Petrol prices have crept up here in the UK and people are noticing. Diesel (no idea what that is called in US) is at record highs.
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Hi :) I was just thinking the same thing about the market in general. Not sure where crude is headed. We'll see. But if it does climb much higher at some point the market, which has had a big run up lately, will correct as you're saying. That would be a good play in itself. See what we get here at the open.

Saudis said they can pump a lot more to make up for Iran if need be. We'll see what happens.

Opening bids are down a bit so we'll see what happens here. Or they were.
 
Quote from Visaria:


Petrol prices have crept up here in the UK and people are noticing. Diesel (no idea what that is called in US) is at record highs. [/B]
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It's called Diesel. (but "Petrol" is called Gas)
:)
 
Quote from taojaxx:

It's called Diesel. (but "Petrol" is called Gas)
:)
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I kind of like the name "Petrol". LOL.

Nothing obvious yet at the open. I'm going to take off and get some dinner before the NBA All Star game and the Academy Awards. I see Daytona got rained out. Never have seen that before.

SI is up a bit.
 
Perhaps at some point the buying every little dip crowd may be buried in a big selloff. The more obvious this becomes, the more likely that is to happen maybe. Lemmings. At least the one little guy has an innertube. :)

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Quote from Zr1Trader:

Oil didn't open up at 115!? aww shucks :)
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:D Feeling more resistance. But you know CL, unpredictable by nature. I was keeping an eye on DX to see how that might affect it. Looks a bit disconnected now.

ADD: Just a heads up to everyone. I'm going to go and get some dinner. This is a clear signal this will either be heading to 108 while I'm gone or 111. :) It's a variation of NoDoji pulling away from her desk. :)
 
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