what crude is cnbc quoting?
- Thread starter stock777
- Start date
I understand you need to buy it back before expiration (I'm not *that* dumb!!!). I guess this is all dependent on a rally on the final day before expiration scaring weak hands into covering? For every short there has to be a long though, but I assume there was no selling panic as price was rising??
How come arbs didn't come in to take advantage of the large price differential with the November contract (arbs who could either get out later in the day or who are actual producers)?
SSB
How come arbs didn't come in to take advantage of the large price differential with the November contract (arbs who could either get out later in the day or who are actual producers)?
SSB
LOL
I dont get why the fuk andyone would trade stocks or indiices when you can trade crude oil??!!!
:eek: 
There were over 2,000 ticks to be had in under 1hour by just going long!!
Or doing what i did and making 899 by shorting all the sikes of the novermber contract through my sb firm!!
I dont get why the fuk andyone would trade stocks or indiices when you can trade crude oil??!!!
:eek: There were over 2,000 ticks to be had in under 1hour by just going long!!
Or doing what i did and making 899 by shorting all the sikes of the novermber contract through my sb firm!!
Quote from spanish89:
LOL
I dont get why the fuk andyone would trade stocks or indiices when you can trade crude oil??!!!
There were over 2,000 ticks to be had in under 1hour by just going long!!
Or doing what i did and making 899 by shorting all the sikes of the novermber contract through my sb firm!!
Retro trading is the easiest thing in the world!!! Where do you see Nov oil at friday close?
It didn't need retrospective look to see it...,
when you see momentum like that just jump on and smash the fuk outta it!!
I don't forecast taht far ahead, used to be able to do next day at about 19/20 days correct in a row, but that was over 1month ago, now we have $25 dollar moves per hour!! LOL
But all i do is sell oil, dont buy yet, since we are still in a market that is gna have to go down, sicne no matter how bad inflation gets, what the point of pricing oil at '$300 per barrel', if no-one can then afford it... lol
The oil has rocketed cos most traders who controlled the price move are foolish or just have huge piles of cash as capital (although partly technical rebound, as we fell from 120 to 90 in barely 1week).
But oils recent rise that is on the grounds that this ''bailout has saved the economy'' is just foolish and doesn't even make basic sense or logic..!! LOL
The economy is basically exactly the same for the million and millions of normal people.
ALl the fed have done is manipulate what a chart called ''the Dow'' says.
Thats it..., nothings actually been done, apart from shallow hollow gestures.
So im gna be selling oil down from tomorrow (as long as dollar weakens), since the economy is alrady so weak, so demmand for oil is way less than last week, and we all know what happend lastime oil went inot the 120s+....
We may get a friday price close above 100, but between now and friday we will get a lower prpice touched than the price you can get your sells in tomorrow.
And i can back this up with extremely compelling evidence...
There is a long for every short, but the longs just refused to cover until the price spiked higher. And of course there were shorts just firing away with market orders all day long to get the hell out. This creates a ton of buying pressure overall even though it is true that the longs had to cover also. They just kept raising the offer knowing the shorts had no choice but to buy it.
Yes, to answer another question, this situation was created by the fact that crude was rallying anyway due to the weak dollar. But it was the squeeze that magnified it 5 fold. Arbs didn't want to sell into that freight train knowing it would close much higher. That would not be too smart.
Quote from spanish89:
But all i do is sell oil, dont buy yet, since we are still in a market that is gna have to go down, sicne no matter how bad inflation gets, what the point of pricing oil at '$300 per barrel', if no-one can then afford it... lol
How did you fare this afternoon , if all you do is sell oil?
I made 192ticks selling off the 3 spikes around lunchtime and early afternoon (UK time), i then took the rest off the afternoon off cos was bored and there wasn't much opportunities for selling, esecially on such a tough day with the dollar weaking but the economy also weaking, oil traders have no way of know which of the 2 to follow, so i just toook the 192...
Then i came back in early evening and saw oil rocketing, so i sat there, watched as the oct contract rocketed, and the nov one then followed with about 5 t 6 seconds delay...
My sb firm ended the oct contract back on friday, so it was only the november i could trade today.
Sounds bad, but it was just actually free money, since the nov contract merely changed direction 5-6 seconds after the october 1 did....
-So i just sat there with oct chart on 1 side, nov on other, execution screen in the middle, and i knew exactly when to cash in all my sells off the rally peaks, as i had a good 5 t 6seconds warning!!
And took 899 out of it!
I post all trades in my journal throughout the day, and posted lost screenshots of proof of my account (1s taht cant be edited)
