Moving the Shrimp to Fiji, if the plan works.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
God and Andy Hall have at least one thing in common. They never talk to me. I never even heard of Andy before today.
Reverend T. Pickens in da howse?
Oil is always worth what it cost to put it in your tank. Could go back to 100 if the conditions are right.
If I only looked at the technicals, 51 would point to mid sixties. It's too hard to see that in the fundamentals. I'll have to get out my binoculars and look for a white swan.
XLE tested support. Could test deeper, though. Industry sentiment looks good.
Still hasn't bumped that 50.70.
Plenty of room.
I have a daily (weak) decline line at 50.70. Weeklies (strong) are broken to the upside. Fundamentals might decide something.
All might be decided by theta burn and boredom. It is August, you know. Time for yearly the trek to the Hamptons.
No serious resistance until $52. Fundamentals, meh. Nobody pays attention to a small drawdown on the turn.
If I was buying fizz, (physical inventory) I would think about storage cost per bbl. 70 cents for 7 mos?? IDK.
I could go long Mar 18 for $50 a barrel. Would cost me about 70 cents for 7 months of trading opportunity. How many trades should I be doing in such a short span of time?
Time value is almost non-existent. I would have to do fast trades, and be right every time. When the spread is larger, you can just hold DWT and watch the contango evaporate on every expiration.
Got my feet wet. Just spotted broken downtrend on the monthlies.
I'm short bonds, so I figure the two work together.
Why would you own gold if US treasuries pay 4%? They don't pay, so why not own Gold?
I just looked at the contango spread. Doesn't look like a good short. Maybe that's why I dreamed the hole was dry?
I'd have to be way too smart to make any money on the short side.
I blame the porky little Korean. Technicals overshot because of him. Maybe he ate some of the anchovies.
I guess the oil company was shorting oil, and couldn't cover. Now it makes sense. Probably was the Korean.
Oil company can't write a hedge book on a dry hole.
Couldn't resist the setup today. Added more.
http://tos.mx/xkeAuJ
I had the weirdest dream last night. Oil company drilled, and started selling oil like crazy. Suddenly they just left town. We found out they never hit oil, and only pretended to strike oil.
That's the best I remember it. I woke up still wondering why they disappeared, and who invested in it.
RB just matched 5/24 high. Could be important. IDK.
It's really lagging on the Natty. Price of NG at 2.94, and they need 6 new wells?
6 new natty wells? I think I'm watching the wrong glut.
Fewer rigs means lower potential for glut. Need to include rigs in Russia, Canada, etc, or it's worthless.
I'm just trying to understand the anatomy of your trading, if you aren't using the posted strategy.
My car insurance is worthless, too; but I pay every month just in case.
I have a resistance about 50.70. Nothing but air until then. Not overbought yet. Seems silly to fight the tape. Puts would insure the proposition.
Picking a target not working so well. I would be long on the fat middle concept, but cheap puts would make it safer.
Your collar?
18 years ago, they told me to tlisten to the bond traders and the shorts. Now almost all of my trades are one or the other.
About 4 years ago, an iHub guy told me to trade the fat middles, and leave bottom picking to the pros and the rookies. I found both statements to be pretty good advice.
If I wanted to gamble my future on the words from a Nigerian, I could always respond to the email from the Prince.
You think maybe a Russian or Saudi instead?
Weekly candle should close about 48.70 There is a bit of technical stuff involved.
Middle of last night, RBOB dipped, and I was feeling smart. Not so much now.
Imma wait until Monday, which meams Imma wait until Wednesday, because I won't trade before the next API, and then the confirmations by EIA.
After that, I'll think about 50, or 40, or somewhere else.
I think the same broker said "Nobody ever lost money taking a profit" but I don't remember who he quoted on that. Sounds logical.
Edit: I just Googled it. Shows Baruch again.
I have a similar strategy, but usually too early and then load it down way too late. Rarely catch it exact.
Kid Rock at the diner?
How about Senator Kid Rock?
Finer than a miner. Don't have sex with a miner or a kid. Could get you in big trouble.
My broker used to quote Bernard Baruch.
"I sold too soon."
I just took a small scalp on the Gasoline. Very Tempted to short UCO. I'm going to resist. Can't make 17.50. Blew a buck in contango since you started your line.
Who's leading, the cart or the horse?
As I showed yesterday, RBOB is leading the way.
Crack spread forces UCO up, eventually.
I'm just a temp.
Saw the inverted H&S at $44 and took a big gamble.
I like that bet, but I'm about 5X bit, and real shy. Just glad to have my money back. Not looking that gift horse in the mouth.