Grinding
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You're getting delayed WTI quotes, while watching live UWTI. WTI 49.88 currently.
Regardless, its pre market.
http://www.cx-portal.com/wti/oil_en.html
When it was up earlier in pre market, so was UWTI. as it dropped, so did UWTI.
You're probably watching Brent which is the below link. -.-
http://www.livecharts.co.uk/MarketCharts/brent.php
How are you going to say Crude is up 3.68 %? Are you watching the Brent? WTI is at 49.79 as I type this.
Someone bought 15 million shares for 2.91 after hours. Must be fucking nice. Wish I was sailing that boat.
http://www.nasdaq.com/symbol/uwti/after-hours
Would be nice.
It broke 3.15 earlier and seemed to hold resistance about 3.17 - Not sure on the time of day that article was published. It could very well hit high 3's soon, but I don't see a 4 dollar handle as soon as he expects.
That volume though....
Well with resistance getting broken this easy... shiiii
Wanting to add more to my core, but didn't have any settled funds on Friday so missed that train.. Looking for that drop sometime today/tomorrow when support levels are tested.
You know the old saying. Follow the axe.
Math isn't hard. Do the math. If you don't know the math, Google how leverage decay works. Or how etfs and etns work. Learn what you're tradinf with. Stop clogging the board with stuff like this when it needs to be strictly about the etn, it's futures , charts, news, etc. stuff related to UWTI. Not how it works. That's a pre req really to post. Or it should be.
The charts don't know why they do what they do, they just do what they do. They don't care why they do what they do, but they do what they do. And something always finds a way to make the charts work.
The "rig count" number is a number of rigs that went offline, not a number of total rigs online. so a lower number, = still close to the same amount of rigs online = the same amount of crude being pumped. a higher number, would mean alot less rigs online, so alot less oil being pumped. The higher the number, the less oil rigs online, the more potentially uwti could go up if you're one of those who believe the rig count will affect it much.
In the 90's, employees paychecks were alot smaller. I work as an engineer for a major oil company, and we have had plenty of layoffs in the past couple months. It's actually a scary time around here. Sub 40 is possible, but only for a few weeks maybe a month like you said, because oil will not remain profitable when everyones paychecks are based off $80+ oil prices. not without more layoffs or alot of pay cuts.
I agree with you when it comes to not hitting 40 or less. America would essentially collapse economically in that scenario, as we would have the hugest job loss and layoffs ever if Exxon, Chev, Shell, Haliburton, Slb, went under. Millions unemployed. It would be huge. and other factors would come into play to keep oil above 40, just to save America basically, just like it has been doing over the last 80 years with oil laws.
How about that naked bar today
Essentially everytime. But common sense is hard for a lot to believe. Why believe the charts they say. Why make this easy they say.
Lololol but I use your help so much. :O
Give it time.
If storage capacity gets full, the price will plummet not rise. As for the rig report, I think that's already factored in since we're trading on April futures currently, and yeah it may play to some effect, but I prefer to go by the charts. the 3.00 support has been broken, so 2.78 levels aren't unlikely.
Question: Any good free sites for L2 quotes, aside from using your broker? Mine doesn't offer, don't want to keep paying if I don't have to.
One of the factors why i got out, aside from the charts, and wanting to be able to sell in time to re buy next week, so the funds will settle.
It's been 3.17 since 3.00 broke this morning. It was only a matter of time before 3.17 hit. Surprised me it broke tbh.
The 3.17 resistance i spoke of earlier is being tested. look for it to flirt, but not to break. if it breaks, it could break hard.
The range is still 2.98 -3.17 imo. the 2.98 support was never broken since it changed to the new support earlier today.
Exactly this. Don't use public articles to influence trade decisions. That's how you get caught. Might as well be watching Cramer. Go off the charts.
I believed you, I just wanted the read.
Can you copy and paste the article or key points?
2.98 support being tested. if it doesn't break will be swinging on the rise back up to resistance.
Resistance broke. Look for a 3.17 resistance later today. with 2.98 being the support.
Hopefully that doesn't hit until Monday because I want the funds from what i sold today to clear as well so I can go all in at 2.7X.
But the rig report tomorrow might do it sadly.
I was in at 1800 shares at 2.86 this morning and I put a limit for 2.99 while I went to my yearly review just now in case it got close to resistance. It's unfortunate because it hit and sold at 2.99. If I saw the trend and was actively watching, I would have cancelled the limit order. Maybe it will be a good thing I sold at 2.99 but it's looking like it might go higher. I'll wait for the 2.70s as well now. oh well. Free $250.
Cancelled stop and held. It looked like the market was ahead of the report and the ensuing dip was from a user panic so holding. Could get close to hitting the resistance today.
In as well. 2.85 stop as well.
Lets see if support holds
I'm not seeing that 2.85 today. Or soon. Support has yet to be broken. Incoming bull? I don't see how gap and trap can even effect an oil ETF as the price isn't directly influenced by the investors.(Correct me if I'm wrong and explain please.) I have mixed feelings currently.
Handle too deep for me
Oil is going to have a big swing day, one way or the other. Waiting to see how the chart is looking this morning.