Grinding
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They're covering their own shorts it seems.
I've seen it as low as 12 looking back.
The imported crude isn't the same as what we produce. We import it for other needs, as we don't do it here ourselves.
I feel the price is already being factored in again.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum
Reserve) increased by 2.5 million barrels from the previous week. At 463.9 million
barrels, U.S. crude oil inventories remain near levels not seen for this time of year in at
least the last 80 years. Total motor gasoline inventories decreased by 1.7 million barrels
last week, but are in the upper half of the average range. Finished gasoline inventories
increased while blending components inventories decreased last week. Distillate fuel
inventories increased by 0.2 million barrels last week and are in the middle of the average
range for this time of year. Propane/propylene inventories rose 0.3 million barrels last
week and are well above the upper limit of the average range. Total commercial
petroleum inventories increased by 2.9 million barrels last week.
http://ir.eia.gov/wpsr/wpsrsummary.pdf
Live update in 20 minutes for any of you newcomers here for the dip.
I'm still sidelining. No catching a falling knife for me.
Can't break 1.60 over these past couple days, guess I was a day ahead of myself when i said it would open lower.
RSI tasty like AMM said.
Pop back up to 2.50 where it belongs
I normally don't make any assumptions off pre-market, especially ARO right now, because of robots being the only bid/ask pre-market, and absolutely no volume.
However, this morning the bid was at like 1.19 and the ask was at 1.53, which hasn't been the normal pre-market bid/ask so was thinking an open at 1.50 wouldn't be unreasonable since none of those 1.53's were being taken off the table.
Just robots playing games though.
Also broke above the down trend line I was looking at, dropped, re tested it, AND bounced off it as support. Hmmmm
God also gave me pattern day trader status recently because I didn't pay attention to a holiday day when counting my 5 day rolling period, so I don't want to get stopped out, and then the run happens during my 3 days time waiting for funds to settle. :(
This being said, if I were going to take a risk, now would be the time.
Could open pretty low today.
Shorts covering.
That 2.5m 1.86 wall getting hammered! Still sidelining.
Volume big today
Still sidelining it.
Waiting until after Amateur hour to see if I'll buy a position. If I miss it, I miss it.
I'm sure we'll stay cheap enough where I'm comfortable to add for a couple of weeks. but the low 1.50's was just so tasty. I'm hoping for that again. or 1.40s even. (Would that be greedy?) haha
I loaded the boat. Was hoping for these prices to stay to Monday when I had some settled funds in 401k cash account but I'll take what I got.
Would be nice. Brought us up pretty good.
Thursday/Friday is never good for UWTI so very may well
I'm posting the charts to show why 2.00 is going to break. The wall on L2s is so many robots, faking the price. Trying to unload what they can before letting it crash under.
Exactly my point. Read all the posts. Not just one. I made it pretty clear that was the point that any little sign of strength this tries to show, just immediately gets broken, and hence why I'm on the sidelines.
Been posting all day to not buy in and posting evidence as to why I stand that way.
On the minute. To show that this thing is going lower and can't form any sort of strength. The hourly one broke , so showing that even on the minute, where its easy to form temporary up trends during the hour, to sustain a price for day, the price can't hang. Which in my eyes just shows further collapse is inevitable for the day unless things change. But she's not looking hot.
I'm not speaking anything long term. Just solely short term for the day.
He just didn't want to Neb guiding people the wrong way, without finishing how the process works. Some people are here for help, just looking out for them. RB understands all that.
Big wall at 2.00 but the bid getting hammered. If this breaks, which it will. Be ready. Could over extend low enough for a good buying opportunity.
I'm still on the sidelines
2.02 got broke through. Look out below.
The wall is getting knicked on.
Don't chase it or the market will backhand you. Just watch the Bid wall of 2.02's. If that wall breaks, that's when we go below.
Under 2.00 by end of week. Thursday/Friday never good days for UWTI except rarely. this may be a rare time, but not worth me betting on. Orders in at 1.82
If that wall of orders gets broke at 2.02, look out below. Watch L2's close today.
I've had prime for years. It pays for itself with all the shit I buy. I mean buying 3 things a year pays for itself with the free 2 day shipping alone.
Get a free book a week. Free Amazon instant video, Random free shit throughout the year.
When I was in college, school books for college, were cheaper, and over-nighted to me for free.
Lots of perks. Makes it worth. Jsut checked order history, had over 40 things shipped with 2 day shipping for free this year. Which comes in handy because i'm a last minute shopper for Valentines day, Mothers day, Father's day, etc.
I can't stop buying shit from Amazon prime day
broke the down trend line so interesting for sure.
watching for sure.