SHORT oil

Quote from Cutten:

Most religious people follow their religion for cultural reasons, and often aren't even aware of the philosophy underlying it.
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That's why it's such a problem. They're (Muslims) beginning to discover/rediscover the underlying philosophy. And instead of then turning away from it, they're embracing it.
 
Quote from FuturesTrader71:

Wrong... but I will leave to a chit chat thread for some other time. I'm a meditator. I believe in unified consciousness. That we are all one regardless of our beliefs. I believe in God but don't favor any one religion and have studied all the major ones. I don't see any difference between Islam and the evolution of Christianity or Judaism.

You are mistaking the political agenda of a few motivated by the false promise of the wealth of oil masking themselves by the use of a religion. This is much the same as all other "holy wars" in man's history. It is just a part of our collective consciousness and our evolution as a human race.

As a trader, I know that things aren't what they seem much like a huge bid in the book by someone who is really trying to sell a better price. We must see thru the games and propaganda and examine the true intent at hand.

Lumping "freedom-loving communists" or any other group would have gotten the same comment from me. So, no. I am not partial.

Cheers.
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Yes, but making statements that lump people together is provocative and therefore provokes people to participate and engage in ideas, which is part of healthy freedom of speech. The the 10000000000 political Muslim groups that formed in the West since the late 80's worked hard to limit freedom of speech by accusing their opponents for making "ignorant" generalizations, while pushing their sinister agendas to establish a future of oppressive Wahabbism and Sharia law in the West.

It's really scary when several generations of people in the West have been taught to be non-judgemental of everything, leaving them easy pray to the importation of oppressive foreign ideologies. It's Communism all over again.

It's also disturbing that the West is dependent on Muslim oil, and as the price of oil goes up, they can build more Wahabbi schools and Islamic "centers" in the West.
 
Surf, if we get another good down move tommorow, I'd suggest taking some of your gains off the table around $54.50.

Of course I'm not an energies guy at all, so take it for what it's worth...
 
Quote from hank rollins:

oil trade continues to rock---looks like we nailed this one, finally.

holding short here.
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Well done -- perfectly executed. Anyone note the similarity between the S&P top and the oil top? I think oil's going to be the trigger that reverses this market and allays the inflation fears -- just too hard for people to figure out right now. But the rotation into large-cap tech is happening even as we speak.
 
Great trade! Was the idea behind the trade mainly looking at this market only, or did action in other commodities kinda portend a drop?
 
Quote from illiquid:

Great trade! Was the idea behind the trade mainly looking at this market only, or did action in other commodities kinda portend a drop?
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Here's my reasons for shorting oil: Inventories are high, OPEC isn't reducing production this spring, and the SPR (strategic petroleum reserve) will be full in about 4 months (and the market will anticipate this weeks or months in advance). Gas prices are high enough to curb some demand (they've been the headline in Jay Leno's monologue for the past couple nights and lead story on the nightly news). This oil market is like Wiley E. Coyote after running off a cliff -- nothing but air underneath.

Sure, some supply disaster could happen, but each day it doesn't happen gets us closer to another Wednesday's inventory report and closer to a selloff.

Btw, you can read the weekly inventory reports here: http://www.eia.doe.gov/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/wpsr.html. From last Wednesday's report here is the crude stocks graph:

<div align="center"><img src="http://www.schindlertrading.com/include/content/uploads/crude_stocks.gif" border="0" alt=""></div>

The US market (25% of world consumption) is very well supplied. From it's current $55/bbl, this market looks more likely to go to $45 than $65 in my opinion. Short the Nymex e-mini crude contract (symbol QM) and cover at $48.

As always, keep in mind that FUTURES TRADING IS SPECULATIVE AND INVOLVES SUBSTANTIAL RISK OF LOSS. YOU SHOULD THEREFORE CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.
 
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