so those of you trading oil...give me your best guess...oil in the next two weeks...up? or down? (from today's close) TIA!!!
What are the drivers of oil price?
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Thanks ammo...got lucky with a short option last week and trying to decide whether to hold another week or so to milk the profits (famous last words)
me too. shorted some, bought some puts.
fundementally crude heats up easily, since everything is cruded. one tiny change in one factor will generate bigwave. but when it heats up, others including everything hurts. so it is not sustainable. when it shoots up to $150, global economy will crash,people will talk about alternative energy again.maybe congress will intervene... people do not like it goes up.
so crude has temptation to heat up,but it can not be sustained.
that is what I know. I shorted it with pretty confidence.
I prefer trade ES/NQ.when stock market goes up,everyone smiles. so that is sustainable. so buy dips make sense. when stock market goes down, everyone tries to rescue it. it is safer to hold something everyone expects its go up.
fundementally crude heats up easily, since everything is cruded. one tiny change in one factor will generate bigwave. but when it heats up, others including everything hurts. so it is not sustainable. when it shoots up to $150, global economy will crash,people will talk about alternative energy again.maybe congress will intervene... people do not like it goes up.
so crude has temptation to heat up,but it can not be sustained.
that is what I know. I shorted it with pretty confidence.
I prefer trade ES/NQ.when stock market goes up,everyone smiles. so that is sustainable. so buy dips make sense. when stock market goes down, everyone tries to rescue it. it is safer to hold something everyone expects its go up.
Quote from RichardRimes:
Thanks ammo...got lucky with a short option last week and trying to decide whether to hold another week or so to milk the profits (famous last words)
do not try to figure out why things happen. actually lots of things happen with no reasonor with many possible reasons.
forexample, if someone crazy enough, and have lots of money(unlimited),he can keep buying buying, and pushing it higher and higher
when some one gets cancer, people always try to loof for the reason.... most time it happens so it happens. the most important thing is take advantage of what is going on.
the price goes up or goes down,that is on the surface. but behind that is PEOPEL or market participants.
do you know the ponzi scam? I bet you know it. as a trader, need get rid of the bad habit of reasoning/rational logic. when everyone is crazy, you get crazy too, you have no choice.then you can enjoy the craziness.
identify the situation correctly, thenline up your startegy to benefit it.
forexample, if someone crazy enough, and have lots of money(unlimited),he can keep buying buying, and pushing it higher and higher
when some one gets cancer, people always try to loof for the reason.... most time it happens so it happens. the most important thing is take advantage of what is going on.
the price goes up or goes down,that is on the surface. but behind that is PEOPEL or market participants.
do you know the ponzi scam? I bet you know it. as a trader, need get rid of the bad habit of reasoning/rational logic. when everyone is crazy, you get crazy too, you have no choice.then you can enjoy the craziness.
identify the situation correctly, thenline up your startegy to benefit it.
same here..just that ES has been dead in the water the past month saw that OIL "seemed" too high at 108 and sold a call...gold "seemed" to low so sold a put... but they are not my comfort zone. I have absolutely no feel or even real understanding of either so very seldom take flyers.
While I am waiting for the book on fundamentals to arrive, anyone has an idea why in the last 24 hours the price rose by $5, technical, fundamental? Bernanke? or some other data on oil storage etc?
EIA data showed the lowest inventory levels at Cushing since April 2012 and issues in the Middle East.