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Nice pop there as I was typing.
I have to say a huge thank you to Kam and TMM for all their assistance and best of luck to all traders here, bull and bears. This board was an indispensable source of information that has help me to better understand trading in general and trading oil particularly. Thank you and best of luck.
I believe we stay within a range of $18's- $20.'s until then which is too tight for me to take advantage of while working.
I still think that next week and the following week we see a large pop in WTI/UWTI. Prob back to $50's area the depending on OPEC outcome a large dip or rise to $60's I'm holding my Uwti until after thanksgiving plus some December calls for added measure of gains. Let's see how this goes. I will get out then wait until after the delisting to see how the trading goes with UWTI. I'm saddened by the UWTI news but have made great profits here so I'm thankful for that.
I have to say the same, this is my first experience with trading ETF/ETN, I guess we'll get our experience as this unwinds. It's too bad no matter what happens as this was a great opportunity for me to earn a lot of money. I'll be keeping a sharp eye out for another such but sadly I'm now expecting to find one soon.
Here is a well summed up article of what's has seen said many times on this board in the past by TMM and Kam.
Weekly Oil Markets Outlook - Breaking Down The OPEC Deal $USO
http://www.seekingalpha.com/article/4024060
I'm not sure that I see a case for the disassociation from oil prices but I have to admit that my understanding of the association is quite limited. Thank you for the info.
You'll need to ask TMM that question my friend but I have a suspicion he's well positioned in places to take advantage of coming oil move upwards.
Thanks for the info
Not sure. Perhaps it'll roll into another similar product perhaps not? Value shouldn't be impacted as it's derived from oil price. Others may be better to explain. Watching for more news.
Anyone read about possible delisting of UWTI and DWTI in December by Credit Susie? Any thoughts?
You're welcome. I'm sure that there will be plenty of trading ops in the mean time but I believe posters like TMM and Kam are way better at advising on those.
My friend, if I could tell you the answer to that with any certainty I wouldn't have to spend 12 or more hours a day at a job that takes me away from trading and spending time with my family. My guess is we remain range bound for the next two weeks and then get a break up or down which will depend on OPEC agreement or not. Then move up after with or without OPEC agreement. Long term oil price is very bullish. In my opinion. But just for clarity most of my understanding of trading Uwti and oil has come from the patience and kindness of more skilled traders. Just follow this board a while and you'll see who is more consistently correct and who isn't. Good luck to you.
I respectfully disagree. WTI holding strong despite dollar rally and likely increases in lending rates...good sign for oil.
Looks like it's running nicely.
Yep looks like Uwti is up....
Good morning all UWTI bulls. Let's see what gifts we receive today from this beauty.
We see tomorrow at 10:30 for sure.
Not looking too much like an ouch to me...
WOW Kam and TMM professors emeritus or is they Emeriti?
I'm watching closely Kam. Ready for some nice fireworks.
I can't wait to see tomorrow's report...
Green green green.... pink it up!!!
As it is right now, US production is down around 870,000 bpd for 2016. Just to be clear.
Looks like you may get that downward break today Kam, but I believe contract rolls over next week? So possibly just a quick dip ahead of OPEC meeting if shorts decide to cover. What's your take on that scenario?
I believe I see 4.4 Mil build in crude but may be wrong.
Nice win but I think the real spike will be coming before the Nunez close today.
My guess today for UWTI, HOD around $20.75-$21 range then set up for API and EIA numbers which take us back to $28-$30 area.
I can't wait to see the API numbers tonight, I have a feeling it'll surprise the shorts.
Good morning UWTI longs, let see what we get today. I wish all the best to all of you on Election Day.
Spiking now. Nice
Hahaha Kam I was about to mention the exact thing and ask if you had any insight as to why?
Good Morning UWTI longs. New week, new game. Good luck to all.
Great more oil will be used to be refined into gasoline now that it's moving again. BTW, did we miss that there was a contributing factor from gasoline pipeline disruption to the build in oil inventories?
Nice work. But rest assured you weren't the only buyer of Uwti on Friday. Let see what next week brings and what the rumors brings us.
Looks like despite so called Oil glut and falling prices Oil producers still think they should pump more... I wonder why???
First rule for getting out of a hole is to stop digging. In this case, stop pumping, or at least slow it way down.
More interesting info on why Nigeria's production numbers are a bluff.
Nigeria Militant Attacks Result In Production Loss $USO
http://www.seekingalpha.com/article/4019036
I smell bounce time coming....
Here's an interesting take on Iran.
Iran Fails To Attract International Oil Companies - Oil Markets Daily $USO
http://www.seekingalpha.com/article/4018774