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well volume sure is picking up on posts here anyways.
only reason I haven't sold yet. of course I am prolonging everyone's loss.
well if it's near a BP rig that might be a reality.
Saudi Arabia’s King Abdullah dies at 90. watch them oust his brother and oil goes back up.
The weekly chart seems to be showing good faith effort to make this the bottom and move up!
I used to be there. the mindset completely broke me literally.
I have seen $1m on a single ask eaten up or bid whacked in less than a second so many times on UWTI. there is zero percent chance that bashing or pumping on this or any 3x ETF board will have any effect on price. we are all a micro blip on the radar. it's downright laughable. I used to bash but I grew up. it's better to learn from the real traders in these boards.
sharp rise happened today with usd vs. cad the report I read said parabolic move based on bank decision.
"Everyone tells us to cut. But I want to ask you, do we produce at higher cost or lower costs? Let's produce the lower cost oil first and then produce the higher cost," Badri said, addressing the World Economic Forum in Davos, Switzerland.
"Prices will rebound. I saw this 3-4 times in my life. We will go back to normal very soon," he said.
I was talking about the underlying index and made some crazy movement upwards in premarket. if it had stayed within its channel the 49 a barrel would have been the likely outcome.
"Over the next several years, as demand growth approaches 100 million barrels a day and the industry production falls short, yes, I believe later this decade we'll see $5 a gallon and possible shortages of fuel in some parts of the world," he said.
oof! way off there. 47.29 now
open at 48.50
sorry I meant close at 49.16 lol
WTI will open at 49.16 this am
no issues here. we just burn them if we have too many. j/k.
company I work for (a global conglomerate mega company) pays for professional analysts to give opinions on commodities as part of forecasting production costs. The Q4 - Q1 projections on TWI and Brent were way off and they are the pros. if the pros are off by 30-40 percent it's anyone's guess as to where it lands. I like $55-60 dollar a barrel by end of feb. in the meantime plastic bags will cost us less. lol.
market is closed today forgot about that
trading 3x etf with margin is going to tap you out quick if you don't have a strategy and aren't setting stop losses. margin requirements are much higher for these than un leveraged positions.
head for the hills! oh no!
From Jan 16 IEA sees oil price recovery in 2H15 • 4:34 AM
Yoel Minkoff, SA News Editor
Non-OPEC oil producers will increase output this year at a slower rate than previously forecast, aiding a recovery in crude prices and "rebalancing" the currently over-supplied global markets in the second half of 2015, announced the International Energy Agency.
Lowering its non-OPEC supply growth estimate by 350K/bbl a day, the IEA says non-OPEC supply will only increase by 950K barrels a day this year to 57.5M/day.
Brent crude +1.1% to $48.80, WTI +1.3% to $46.85.
Moody’s downgrades Russia to brink of junk • 9:30 AM
Yoel Minkoff, SA News Editor
Moody's on Friday cut its government bond rating on Russia, placing it just one notch above junk, citing the effects of plunging oil prices and the ruble.
My level 3 says it has a ways to go before that. Maybe below 3 today but not 2.
I wish I did. was driving. missed pre-market. stupid!
any thoughts on oil breaking 50 tomorrow or Friday?
3:07 PM Stephen Alpher, SA News Editor
A $3 move higher in the last hour has WTI crude oil ahead by almost 6% on the session and above $48 per barrel. There's no particular news behind the move, just a heavily oversold asset burning a few greedy shorts.
Earlier, the EIA reported an unexpected big increase in crude inventories. When the bears couldn't take oil any lower on the news, it likely rang a bell to start buying.
UWTI,DWTI: Biggest day for oil in more than three years
is that a technical trading term?
looks like Texas crude just got its swagger back!
oil back over 50?
also this board was dead a month ago. not really a technical indicator.
Gordon Gekko had a better setup in the 90's with his monitors. j/k
anyone else having a problem with the leverage not tracking the index today. I know that my Oil quotes are delayed by 15 minutes but I'm showing WTI up.
in for 40 @ 3.52!
Ref to close above 45 on oil