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Volume before price if that happens lets see 60 WtI. LMS. Still working.
Oh and did I mention the Saudis? Perfect storm.
Its not the hurricane its fear itself as far as the trading floor goes its all electronic but one thing I do know is the closer it gets to 50 the more likely its gonna get there after all that is where it needs to be if anyone in the oil business wants to stay in the oil business just sayin. LMS see you on the other side preserving capital have a great weekend.
Looks like they are pricing in a little more lol. Closer to 50 than 45 right now and lots of storms brewing dollar issue off declining rig count and a hurricane? WTF I like 50 oil :) :) :)
Nice to see you back TMM now im liking oil even more.
Well thats what traders were looking for declining rigs weak dollar nothing moving this today hmmm TMM is back tho and thats usually good for a run. That wedgie is closing in
Waiting for Fed speak and rig count think the crowd is split on this hurricane issue I can tell ya now it aint gonna be good for texas oil for awhile. Have you ever heard of that Stevie Ray song Texas Flood? If you have seen it down there when it really comes down it ain't pretty going to be epic in my honest opinion.
I recall once saying that sometime down the rig count would make a difference everyone went eh. Lol
Oil and NG just hangin around and waiting.
Longer lines in Texas oil up up and away soon
For all interested thought I would share.
Long but interesting read on past storms and the way they can affect oil prices.
https://www.google.com/amp/s/seekingalpha.com/amp/article/835131-hurricanes-and-their-impact-on-oil-prices-major-u-s-oil-companies
Thats how they are spinning it. Will see didn't go that way last time. We have other refineries the Gulf is bigger than it looks. Just gonna be a little windy on the other side lol good luck with your trades MANG Preserving capital always.
Think about this it essentially shuts down all US Exports of shale turn off the pumps for a few days its called a supply disruption. We have other refineries in the Gulf.
I disagree I think we see some serious action tomorrow they were walking the price back up this afternoon. Hurricane is no bueno for oil or shorts here. If the fed stays dovish which it appears they will we got a big move coming.
Sitting on another pile of shares I can wait.
Cat 3 hurricane in the gulf gonna do some damage to the shorts tomorrow.
Net shorts increased last couple days looks like rinse and repeat of last Friday. :)
That thing is looking like a monster big trouble for them down there.
Looking for 47.80 tomorrow for openers
Added 1k more UWT 14.16 avg holding 3k.
I doubled down overnight gulf storm should give this a pop may be on our way back to 50 with the perfect storm. Notably the fed and other industry news could be a good move here.
Nice Pleeb followed your trade there worked out pretty well.
Exactly what I see there Kam
Go long baby nice move
Have been pouring over the charts Fundamentals etc. The shorts need a little love then boom sold everything over night until tomorrow. :) Rinse and repeat.
Sold my long AH saw dwti moving lol
So what was it? Did we get a build on crude vs expected draw? Out of the office on my phone.
Looked it up it looks look API releases the data exclusively through Reuters last week it was on the Reuters site at 4:49 ET kind of good to know I guess will take a look at the FX site thx
Hey where do you get the quickest news feed on API ? Im going to try and get out of my short/long after hrs depending on the numbers here.
API later will wake everyone up lots of wagering going on. Maybe make the difference between 50 test or 45. Its a battle set it forget it place your bets. Im gonna hedge some short so I don't get killed protecting capital Good Luck see you on the other side.
Thx Right looks like its gonna trade flat until report time. Is options expiry today or tomorrow? Thats why I figured I would put in a trade and stop see which way this is going to go. Need some help here. News will be what moves this either way right now.
Lots of room on the upside if this breaks holding up well
Got a couple nice scalps off this 47.70 whip in here at 47.73 gonna set my stop and ride this last trade of the day
Could be dip and rip today good intraday opps... excessive short positions will get hammered on any positive news or events. Same scenario as last year. Average down on any big dips LMS
Notable news BHP exiting shale oil business.
The markets are with you on that bias to the downside you know what that usually means? Its gonna go up im thinking 48 for WTI then higher by end of week seems like the rig count is going to start a decline might have both US and foreign producers working the long side the capex for US producers is also on the decline.. Going to play that one. See how it goes in the am.
Good timing on that one Lam are we going right back the other way tomorrow?
Reminds of last year end of August had some big short covering came in a few waves. The COT will undoubtedly show some pretty heavy if not close to record MM shorts just a guess. Let us know thx.
Yep my guess is it will trade and bounce between the 50 day and 200 day daily MA's for awhile. Gonna see how things develop Monday. Nice to have a big win at the end of the week preserve capital maybe look for some smaller intraday trades next week.
All the charts were bearish fundamentals won out. Pretty epic short squeeze. Congrats choppy market kind of rare to see that but real nice when your on the right side total contrarian trade when you think about now you got support there at 47.50 or so as resistance now becomes support on that move.
Im out here nice!!!!!
Big short squeeze gotta love it
Sold half thank you very much