Is OIL SERIOUSLY undervalued right now??

[Overnight]

OP's analysis sounds interesting.... but... isolated bullish/bearish analysis rarely makes money... it needs to be coupled with events... events drives price disruption and creates temporary mis-pricing that you can take advantage of.

otherwise generic supply/demand analysis you will never be able to beat the commercials who do this stuff for a living!

and CoT shows that commercials are short.

CL for Dec is currently 54.36.

So where is price going tomorrow? Does the CoT report from last week help you on that? Does it show you where price is going?

The CoT report is a data table that provides you a snapshot of positions at a given time. But what will it tell you LATELY?

 

[dozu888]

CL for Dec is currently 54.36.

So where is price going tomorrow? Does the CoT report from last week help you on that? Does it show you where price is going?

The CoT report is a data table that provides you a snapshot of positions at a given time. But what will it tell you LATELY?

can't say much... I don't trade oil lol.... but I figure if I did trade it, I'd use a similar method as how I do equities - need to look for events that create temporary value pockets, or mis-pricing.

OP was looking for a long term trade, so CoT data is still relevant.

 

[Overnight]

can't say much... I don't trade oil lol.... but I figure if I did trade it, I'd use a similar method as how I do equities - need to look for events that create temporary value pockets, or mis-pricing.

OP was looking for a long term trade, so CoT data is still relevant.

I do not believe it can be relevant, because the CoT report is released weekly, but the holdings can totally shift and reverse within that week.

If CoT was a daily thing, and we had more granularity on it, then yes. But not weekly.

 

[maxinger]

How long will world's oil reserves last? 53 years, says BP
The world has 53.3 years left to find an alternative to oil before current proved reserves run dry, according to BP. Of course, nations are finding new oil – meaning that number is rising – but new extraction methods are costly and can pose environmental threats.

Hasan Jamali/AP/File
OilPrice.com

 

[dozu888]

I do not believe it can be relevant, because the CoT report is released weekly, but the holdings can totally shift and reverse within that week.

If CoT was a daily thing, and we had more granularity on it, then yes. But not weekly.

lol your argument is self defeating... if it has no value why is it published at all lol....

hey dude other than poasting on ET and watching youtoob all day long do you do anything else lol.

making lots of money with nq? told you stocks are dirt cheap!

 

[Overnight]

lol your argument is self defeating... if it has no value why is it published at all lol.... !

If intramarket calendar spreads are useless, then why does the CME have it as a product in their suite?

HMMMM?

Care to retort on THAT one?

There is no "self-defeating" here. The CoT is a thing. How can you make the CoT a thing to make you money? I made the intramarket calendar spread work for me back a couple years ago with REAL MONEY. I may do it again. It was in CL. But the CoT did not serve a purpose for me, WITH REAL MONEY.

What is your point?

 

[Edmond]

How long will world's oil reserves last? 53 years, says BP
The world has 53.3 years left to find an alternative to oil before current proved reserves run dry, according to BP. Of course, nations are finding new oil – meaning that number is rising – but new extraction methods are costly and can pose environmental threats.

Hasan Jamali/AP/File
OilPrice.com

No true.

 

[_eug_]

Let me get this straight, your hypothesis is that oil is going to $90 which would make this a position trade... and you took profits 20 min after entry?

I personally think that if we can hold the 50** low, then we will get a test of 2018 highs at 72-75. If we lose the 50**support then there should be a good buying opportunity at 45**

 

[CannonTrading_Ilan]

For what its worth....here is a look at a monthly chart:

 

[bone]

You can see where OPEC fought a war with North American Frackers and lost.

For what its worth....here is a look at a monthly chart: