ES Journal - 2019/2020

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syswizard said:
CL was pretty much straight down for the day, but stayed off it's low of 22.03. Every rally was sold.
Seems to be comfortable in the 22's. This is a long way off from OPEC's 30's target.
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I'm pretty sure it went up more than 5% last night, only to give it all back. My price target for CL is 17-ish. So expecting more selloff in the coming days.
 
schizo said:
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On the other hand, as expected, CL took a beating. Market looks pretty grim for the holders of black gold.
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I've 100% given up on CL & NG, ruled it out for any future trading / investing.
There are far much better opportunities about, imo it no longer is a growth industry, is a relic of a bygone era, there is now too much competition in that market to make it viable imo.
 
vanzandt said:
I want $ZM to hit $134.80 today so I can short the pig.
I hate waiting.
That's the good thing about B1's journal though... great time killer.

How's that oil trade coming along B1? You still hanging with all the suckers that bought that news?
See here's the thing buddy... the whole world uses oil... and we are heading for global recession while the world is awash in the crap. The more it falls, the more that gets pumped. Storage is a problem though, so it should hit an equilibrium at some point. Then more lay-offs in several countries, they spend less money, the recession gets worse. Big snowball.
Oh look, it just went red. So much for your 5%. Damn teenagers.
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We're rolling over to June CL in a week, but check out that contango from May to June! Sheesh!

CLcontango2020.JPG
 
Overnight said:
We're rolling over to June CL in a week, but check out that contango from May to June! Sheesh!
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Yes, we had discussed this. The June contract reflects future supply/demand changes as well as production-level cut-backs. Of course the premium will come in as reality sets in on the market and we get closer to the June expiration date....and a much lower spot rate.
 
vanzandt said:
I want $ZM to hit $134.80 today so I can short the pig.
I hate waiting.
That's the good thing about B1's journal though... great time killer.

How's that oil trade coming along B1? You still hanging with all the suckers that bought that news?
See here's the thing buddy... the whole world uses oil... and we are heading for global recession while the world is awash in the crap. The more it falls, the more that gets pumped. Storage is a problem though, so it should hit an equilibrium at some point. Then more lay-offs in several countries, they spend less money, the recession gets worse. Big snowball.
Oh look, it just went red. So much for your 5%. Damn teenagers.
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$ZM is what?? soybeans?? or zoom technologies??

Vanzandt i just realized we too go way back then since the gallon card post 3 years ago,, damn time flies
 
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