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.
Maybe we can see a nice increase in rig count like last week. +50 would be pretty sweet.
Oh yeah. I read some pumper article on CNBC some guru telling everyone to buy oil company stocks right now (after they aready rallied a lot on the recent Saudi hack / bs / pump job). Yeah let's buy those at their peak right now because surely oil will stay around $50 through the winter and those stocks won't pull back any lol.
I really don't understand how some of these guys that have all this "(wall) street cred" can be so dumb. That or he's baiting retail investors to push the stocks higher so hedgies can short them.
Ditto on the toast
What's wrong doesn't everyone wanna buy $49 oil? Isn't that a great deal? lol. What gives?
I know looks like we're back at $8! I wish I'd been able to load yesterday most of my money is tied up battling this ridiculous oil rally right now.
Can't wait for the next contract rollover. November is trading 0.16 higher than October. That'll be a nice ~15-18% boost for D come early to mid September.
/NGU6 = 2.70
/NGX6 = 2.86
Lol I should buy some U as well. I have the worst luck on the long side of oil and gas. Just ask anyone who's been on the U board for awhile. Kam, balamidas and others have seen it firsthand.
So I guess there's no such thing as resistance for oil anymore. Just up and up and up and up with out any pullback whatsoever.
A shortage??! Gasp. Good thing our power grid is becoming more and more reliant on the most volatile commodity there is. I'm sure everyone will appreciate it when natural gas is over $5 in a couple years and their electric bills go up a lot.
Added 69's. Uneffingbelieveable
So wti has plowed through every resistance like its nothing. I wonder if $48 will provide any resistance or if it'll just keep going straight up.
If crude closes green today it will be 11 green days out of the past 12.
/CLV6 has like unlimited bid support at 47.52 now. Keep on buying that $47 oil! I'm sure it'll be worth a lot when the contract expires in a month.
So that's 10/11 green days in a row for crude. People buying $47 oil...lmao
Yeah I understand they're excited over the draw but I think this rally is living on borrowed time. I'll make another good sized buy tomorrow and that'll probably be enough for me. My average is around 78.50 right now
I'm reading US production increased 150k bpd...crude draw of 2.5M, gasoline about the same. Bullish inventory but bearish production.
Increasing production going into a lower demand time of year does not equal higher prices lol.
Unless it's short covering I'm not sure why anyone would buy $47 oil for delivery in October in the middle of August. I'm glad they are so I can get in cheap here but it doesn't seem very smart.
I had a bid at 77 but they wouldn't fill it so I settled for a few more @77.77. Now they'll drop it to 77 shortly.
They need to pump it some more I have more funds clear today in my non margin account.
I agree I think whatever rally ng may see this week will be short lived and a great opportunity to buy more D
Natgas is waiting for me to sell the rest of my DGAZ to buy DWTI. Then it'll drop like crazy.
Lol welcome to the board Sandra. Let's see what these pumpers have in store for crude today.
If crude hits $48-50 I'm going all in again like I did about a month ago
FWIW DWTI tracking /CLV6 now. Has had 9/10 green days in a row. CLU6 had 8/10 green days in a row.
/CLV6 (the October contract) closed at $47.29 today. Pretty sure CLU expires later this week.
Bidding 77.77. Had to sell some of my DGAZ to free up the funds as other money sits in purgatory in my other (non margin) account. Bad time to move money apparently. All to pay less commission.
Man I hate waiting while this thing just piddles around while there's so much money to be made elsewhere. Probably be stuck in this stupid channel the rest of the week. :/
Ok what's with the sharp reversal? I'm not ready for the rally to be over.
Gas usually drops from August til early November. I think 2.25 is easily doable. Plus with the contango I think 11-15 DGAZ is perfectly reasonable. I give it a 50/50 chance of going above 15 honestly.
Man I hate waiting on fund transfers to settle and be available for trading. Moved some $ out of TDA and into options house bc cheaper commission and it's taking like 4 days to be available for trading.
I see the Russian joined the Saudi pump job saying they're open to thinking about maybe talking about the unlikely remote possibility of possibly perhaps (never) maybe freezing output at the highest level ever imagineable which might possibly lead the way to rainbows and unicorns as well as a fantastic oil rally.
Although the Saudi crooks pumped record amounts of crude along with OPEC they're all in on this ridiculous scam. Idk why anyone believes a word they say.
Maybe a bit more consolidation before it (Natgas) drops more. It did make a big move down the past week or so.
DGAZ is now in the October natty contract which was trading about 1.5% higher than September last I checked. So that's just more room for DGAZ to climb!
Wonder how many times the media will use the big exciting meeting in September to pump oil (even though nothing will ever come of it)
I can't believe the market still falls for this crap every time the Saudis lie through their teeth.
I just added 81.90 as well. The Saudis can't keep oil above $45 all fall and winter on talk. And we all know they're not cutting shit.
Really happy I was able to get in sub 8 on that last buy.
Added 7.90.
I'd be surprised if we didn't see low 8's again but stranger things have happened.
http://m.investing.com/news/commodities-news/oil-jumps-to-3-week-highs-on-fresh-hopes-for-opec-action-420331 kinda like this!
I sure do HOPE all these speculators get their asses handed to them when the music stops and everyone realizes they're not freezing crap.
Yeah I always cringe when I see the words "rally"and "hope" in the same headline. Hope is not a strategy nor is it a reason to speculate.
Yeah I got some at 8.15 early in the morning. Was gonna add again but it didn't dip quite as much as I was wanting and then boom back over 8.30.
So yeah I have kinda mixed feelings about where I want this to open Monday. Still got some adding to do
Just added 88's. Room to average down if needed. Have a good weekend DWTI folks.