UVXY holding and all eyes on the friday jobs report.

UWTI not good.

U.S. oil stockpiles rise twice as much as expected in week - EIA
REUTERS 10:33 AM ET 3/4/2015
NEW YORK, March 4 (Reuters) - U.S. crude stocks rose more than twice as much as expected last week, while gasoline stocks increased and distillate inventories fell, data from the Energy Information Administration showed on Wednesday. Crude inventories rose by 10.3 million barrels in the last week, compared with analysts' expectations for an increase of 4.2 million barrels.


Prior Actual expected
Crude oil inventories (weekly change) 8.4 M barrels 10.3 M barrels 4.2

Gasoline (weekly change) -3.1 M barrels 0.0 M barrels
Distillates (weekly change) -2.7 M barrels -1.7 M barrels

UWTI moment of truth at 1030am with inventory numbers. Market anticipates lowest inventory accumulation year to date. Not in but watching closely.

UVXY my strategy for what it's worth. Planning a swing trade, meaning a hold for a few days or weeks in anticipation of a small correction or sell on a pop from negative news. UVXY will swing 4 bucks in a day so on news its a sell or slow grind up for a short period. Trade your plan, glta.

BIOC looking to buy on the close of today's gap. Run is not over, IMO.

UVXY liking my buy yesterday, as we are getting some breathing room today.

Bio yep totally agree, risky but great reward.

UVXY the way I see things, oil will be the catalyst that brings the market correction, if only briefly, but furiously. It starts with this weeks inventory report and goes through mid April when inventory is suppose to max out storage capacity. That will drive oil down into the 40s (which will be the must buy price on UWTI which will have probably splits shares by then). There is way too much euphoria with these markets to get caught up on the wrong side.

Yep agreed.

UVXY - started a small position today 17.10, just too much exuberance with the nasdaq hitting 5000. economic data today was a mildly disappointment.

U.S. stocks rise amid slowdown in consumer-spending, manufacturing
MARKETWATCH 10:35 AM ET 3/2/2015

UWTI - officially all out here will watch inventory numbers but too much negative sentiment to fight the tape. all IMO.

UVXY/TVIX on close watch you, can feel market exuberance.

Great summary of equity markets

Watching uvxy and tvix closely. But below lies the challenge to higher prices.

"Central bank easing has combined with speculation that the worst is over for oil to assuage investor concerns and calm stock prices. The VIX plunged 36 percent in February, the most in records back to 1990, after it jumped as much as 17 percent in January."

to http://www.bloomberg.com/news/articles/2015-02-27/nasdaq-caps-best-month-since-12-as-apple-stock-adds-66-billion

I expect the equity markets to be calm or up early next week until the February jobs report on friday, if it disappoints and guessing it will then the ride down begins. imo.

UWTI oil rig count -33 to 986, less than than expected so small miss. Bigger picture, US shale drilling getting decimated by low oil price. it will catch up in due time and low production higher demand will skyrocket oil prices. Playing the bounce for now.

TVIX/UWXY - waiting patiently to go all in. the problem is both etfs are news driven and so far most US economic news is mildly bearish at best but seems stellar compared to world economy alternatives. so consequently no market selloff. IMO

UWTI holding here, pending rig count report due at 1pm.

UWTI and oil situation: cuts are deep now and will rebound prices fast at some point. Below from nlightn on options millionaire board.

$SDRL,...Seadrill lower after mixed Q4 results

Seadrill (SDRL -0.8%) is modestly lower after Q4 earnings fell 32% Y/Y and saying the oil services sector is facing challenging times amid lower oil prices, spending cuts and an oversupply of rigs.

SDRL's Q4 earnings from continuing operations of $0.78/share were ahead of the $0.60 consensus, but EBITDA of $672M was below estimates as operating costs came in ahead of expectations; the quarter was negatively impacted by a $232M non-cash impairment of goodwill relating to its jack-up rig segment.

SDRL warns that stalled rig contracts worth a total $4.1B signed with Russia's Rosneft could be in danger, and says it received a contract cancellation from Talisman affecting $81M of backlog.

Says spending cuts by oil companies amid lower oil prices "has severely curtailed drilling budgets for at least 2015," and that it expects requests to reduce rig rates or terminate contracts early and "may be willing to engage in discussions" to modify contracts.

UGAZ Weekly Change this week -219 bcf actual vs 249 estimate, but double the draw from last week of -111 bcf last week. small miss for a sell off, this should be moving up much higher in price. over reaction, imo.

UWTI - rig count report friday 1pm. needs to be above last weeks count of 37 rigs closed.

UGAZ inventory report at 1030am. should beat expectation and good time to sell into the spike, imo.

Even f-up FNMA is making a run today, wow.

Watching the IBB index at least 4 bio stocks 20% plus gains today with CLRX +52%, starting to feel like it's 2000 bubble.

TVIX well that was one sharp SnapBack from a 52 week low $16.86 to $18 in a heartbeat. I think the correction happens when the Nasdaq hits 5000. Watching this one very closely. IMO

UWTI it's like reading tea leaves to be on the right side of the trade. Holding thru the rigs report on Friday.

Thanks

UWTI $3.01 glad the market agreed with my assessment..lol.

Thanks and just looking out for my money while sharing my opinion.

BIOC news was not worth a triple in 3 days. Play carefully. IMO

Inventory slightly higher than last week but the weekly trend is below the high level and trending slightly lower. Meaning we are eating through the inventory at a slow pace but nonetheless its a good thing that should allow the UWTI price to hold in the $3 area. With positive rig count news on Friday we see a pop.

Oil Market is digesting the news as the world is not ending and maybe a bottoming in oil is actually happening. All in my opinion.

DOE: US Crude Oil Stocks +8.427 Mln Bbl compared to 4.0 Mln Bbl estimate and 7.7 Mln BBl week before. prices holding steady though..still holiding.

U.S. oil stockpiles build twice as much as expected - EIA
REUTERS 10:34 AM ET 2/25/2015
NEW YORK, Feb 25 (Reuters) - U.S. crude stocks rose last week as refineries cut output, while gasoline and distillate inventories fell, data from the Energy Information Administration showed on Wednesday.

Crude inventories rose by 8.4 million barrels in the last week, compared with analysts' expectations for an increase of 4 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 2.419 million barrels, EIA said.

Refinery crude runs fell by 199,000 barrels per day, EIA data showed. Refinery utilization rates fell by 1.3 percentage points.

Gasoline stocks fell by 3.1 million barrels, compared with analysts' expectations in a Reuters poll for a 1.5-million-barrels drop.

Distillate stockpiles, which include diesel and heating oil, fell by 2.7 million barrels, versus expectations for a 3.1-million-barrel drop, the EIA data showed.

U.S. crude imports rose last week by 198,000 barrels per day.

UWTI on watch - EIA oil inventory report at 1030am today.

I wasn't hoping to be right (reference prior post), but that post could not be more accurate today.

RUSL on watch down big today.

Yeah the rumor briefly turned oil positive and cussed the spike in UWTI. Seems to me it's credible if you can get that kind of reaction in the market.

UWTI rumor opec possible early meeting. Watching closely here.

UWTI needs to hold 2.90 or going lower. IMO

RUSL 23.56 -3.50 -12.93%

RUSL Russian debt downgraded to junk by Moody's. Let's see how the price reacts.

TVIX the Greece news was nothing more than kicking the can down the road. The market will sober up and would not be surprised to see a sell off. Selfishly hoping for 2 bucks to jump in.

Oil will rise due to lower U.S. production and eventually some disruption overseas is my guess. Oil target is spot on.