is... watching & waiting
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U has options, T doesn't - the for now higher share price here also provides more volatile moves up/down .. it's all preference
Watch for tails beautiful short swing trade entry here
Overnight high 2070 clears path to TL at 2076
Should see a 15-20 point move today or tomorrow
The American Petroleum Institute will release its inventories report later in the day, while Wednesday’s government report could show crude stockpiles rose by 0.5 million barrels in the week ended May 6.
A long USD trade as much as this is short GDX
The only money to be made is within the trading range, it's the OTC... there's only one bottom
Lmao, share count btw
Bigger picture nothing's changed. I came across that read this am too. Suspect a choppy/sideways week with bears tired after 2045, short covering, uninformed bulls buying for 5-10 points. Nobody here needs encouragement, but 2063 holding that retest was a surprise. Bears are going to work their way down but it won't be one way, HFTs, Algo, Tutes, PPT, Fed, you pick.
Not paid... but @fibonacciqueen - solid follow
2076 would be a healthy retrace from the dismal opening to the monthly, bulls can take profit & bears resume control, flush to next lower target 2026.
My bad, back to Chardonnay
To their credit, they staved off this kind of move much longer than I'd ever anticipated. After dropping to .003's the retraces to .007/.009 are impressive in hindsight.
This is the next leg lower in what has been a slow/steady fall from ATH's. Scale out on PR's, reload, rinse/repeat.
Lmao - OTC never gets old
If short-term hold, but if long-term hold... got it
Might be time to take profit here
2076 if 2063 falls
Genscape reported a forecast 1.4 million barrel build at Cushing
WTI hammered $2 off hod, how Gartman still has a job is mind-numbing
Why There's No Chance Of An Iran Oil Production Freeze Now
By Ellen R. Wald, Ph.D.Commodities
May 09, 2016 06:57AM ET
News came out last week that perhaps Iran had already improved its oil production to reach a point near its former, pre-sanctions level. This would be a huge boon for Iran.
The numbers say that Iran is producing nearly 4 million bpd and exporting nearly 2.5 bpd. As a result, market watchers are hoping that Iran may now be willing to participate in the previously proposed production freeze that it so publicly rejected just a couple weeks ago. In fact, in March, Iran said that it would not consider participating in an oil production freeze until it reached pre-sanctions levels.
So, does this mean Iran is now willing to play? Not likely.
Even now that it appears Iran has met—or is about to meet—its target, the chances of an oil freeze agreement revival are slim.
First, an oil freeze agreement is still not in Iran’s interests. The agreement previously under negotiation just a few weeks ago would have frozen production at January 2016 levels. Strategically, Iran cannot achieve pre-sanctions levels of oil production only to voluntarily abandon them for production rates far below those its fellow producing countries would be agreeing to.
Likewise, it would not be beneficial for Iran to freeze production at April or May levels, because just as Iran has increased production, so too have Saudi Arabia, Russia, and Iraq. Strategically, Iran must continue to increase its oil production relative to its competitors to truly return to its pre-sanctions oil market situation.
Second, Iran has offered no indication that it wants to entertain a production freeze. Just this week, following a meeting between Iranian President Hassan Rouhani and South Korean President Park Geun-Hye, Iranian Oil Minister Bijan Namdar Zangeneh, specifically stated that Iran intends to increase its oil exports to South Korea from 100,000 barrels per day in April, 2016 to 400,000 barrels per day in May, 2016. While it may be that recent Iranian exports to South Korea have spiked using pre-produced (and stored) oil, Iran will want to produce new oil to meet the demands of the relationship.
Third, a production freeze now would essentially function like a production cap for Iran and negatively impact its attempts to attract foreign investment. Iran already faces serious challenges in attracting the foreign investment it needs to rejuvenate its oil industry, because the Iranian constitution limits the National Iranian Oil Company (NIOC) from offering foreign companies lucrative deals. The NIOC will be hard-pressed to find foreign companies willing to participate under strict production restrictions in an already unfriendly business environment.
Fourth, an agreement to freeze production, even amongst the OPEC and non-OPEC producers who attended the April meeting in Doha, is not enough to really impact the global oil glut. A speculative jump in prices is really all that can be expected. Without the guarantee of higher oil prices, no producer—including Iran—has a real incentive to participate.
Canada/Saudi headlines didn't last long - USD perking up
Doesn't appear so - previous dips had sub 10M Vol and recovered to .004 within a session or two, the downfall of the new CEO PR pump [or prior mngmnt bailing depending on what camp you're in] every share sold .002 is in the black above .003, MM's are clear to walk it down to ATL's imo
This cookie's toast - 20M sold sub .004 plenty of selling pressure to pin this down for good
Nothing says buy stocks like a slowing economy...
http://bloomberg.econoday.com/byshoweventfull.asp?fid=471792&cust=bloomberg-us&year=2016&lid=0&prev=/byweek.asp#top
SPX -11.25 DOW -87, could test 2032/2026
How's that for a head fake? USD turning around, SPX futures -7 DOW -60, close here is negative territory for the year - suspect shorts to take some profit, maybe a bounce this afternoon. VIX closing in on $17.
Gold just went parabolic
Lol all eyes on Jobs @ 8:30am - might be in for a treat.
Oil's behaving thus far off 1.22%, some of the PM chatter I've been following FWIW:
"If we get a weak payrolls report, if this economy doesn't grow as robustly as we might have expected just a few weeks ago, then it will unleash a parade of horribles onto the stock market"
If the number comes in lower than expected, than it will make investors flee, thinking that the economy is slowing. The ugly side will be seen when oil goes down due to lower demand and a sluggish economy. However, a good jobs report will start chatter about the Fed's interest rate hike.
...
Traders will also keep an eye on signs of pick up in wages for clues on inflationary pressures in the economy. "On payrolls, we are forecasting 188,000 jobs being added, with the jobless rate at 5 percent and wages rising 0.4 percent, month on month," said Ned Rumpeltin, European head of FX strategy at TD Securities.
"If the numbers surprise marginally, then we think the impact on the dollar for today will be constrained as expectations of when the Fed will move are unlikely to be altered." Some large funds have been cutting favourable bets on the dollar amid uncertainty over when the Federal Reserve will raise rates.
http://www.investing.com/economic-calendar/
$2.07's falling early, tails on the 15 ... rig count moving the needle at all here of late?
$44.08 -0.24 (-0.54%)
Ohh spooky
Sounds a lot like shell - GLTY
'Parts have been ordered in my opinion' ... about as useless as saying we're going to [your favorite planet here]
You're crazy if you think this is normal trading for crude... Canadia on fire - up $2 bucks, nothing for the afternoon so back to unch. Technical supports could get blown out of the water should genuinely negative press run again.
God help us if the Fed moved in June
Read the same monthly update for 16 months - forgive me... it's easy to get caught up in the day to day astronomy upon first arrival.
There's a reason they haven't shown the device publicly since the Orlando interview and failed Colo convention - 98% of those here vested have no recollection of either.
I hope they succeed personally, but it's still on the OTC and still a penny stock, disregard the noise.
GLTA
Just down after the Canadian headline wore off by the looks of it
USD willing
Never underestimate the power of a quesadilla
Nor oil - lol you're all welcome
Time for a nap and a quesadilla
Bulls look weak could get a nice bounce here
Failed follow through, test HOD
First 15m candle will decide imo - 2058 clearly means something, Bulls take that they could bounce, this close to a three week low I'm sitting on my hands and riding trend.
First weeks of the month tend to be indecisive, could chop sideways and have contango eat our lunch of course.
Lol 3-6 weeks ... babies take longer than that
Flush, stabilize around election, break out up/down depending on pres
60's in Tampa this morning won't get out of the 70's today, avg high 87 for this time of year.
Color me foolish but USD/macro is guiding NG trading atm, not weather.