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All the chart indicators are pretty much bearish so I don't blame you still close to my buy in avg. Sideways market t WTI should test 47.50 again before and if it totally unwinds holding with an aggressive stop @ 46.18. Just don't think a big oil selloff is going to happen here.
Oil has held up today so far while the markets are selling off one positive sign need some help here
Grind is the word BOS its holding up hopefully we see some profit taking tomorrow from the short side.
Here we go
Looks ready to run
Like watching paint dry wake this up first.
Did I sound worried ? Have a trade plan stick to it or your gonna lose your cookies. Thanks good luck to you as well Pleebsters Yummy Yummy paper barrels for sale.
Thats all I need im 3x long almost at the bottom of as EOD taking a bit of a
gamble with these sharks on the short side. Ill win big at 47.50 or take 1 more lot lower set a stop see what happens. Come back another day. All in the game. Will be up 5k or - 1k my 3rd trade in the last 2 months here lost 200 on the first up 1200 on trade 2 could have been 2500 but got out of my short too soon . not greedy just want a piece of the action.
I had a typo on that last post I flipped to the UWT down to 13.35 avg big trade I would be f'd at 15.35 ha. Might dip in the am I believe it did last week prior to the EIA report if so im gonna grab 1k more and ride it out . I like the 6 mo daily chart on the UWT should make it back to 14.50 or higher there in a few sessions hopefully. Held DW for a few days got out a bit early but a win is a win was a good one anyway. All speculation and all my opinion . There has been no bump on the fed minutes or the inventory report earlier this week
In fact it went the other way. Big shorts and manipulation are troublesome the deck was stacked today IMO some shorts will take profits and cover so there is my trade. A supply disruption or some mayhem wouldn't hurt either lol protecting capital always . Good Luck
UCO UWT.
Should have rallied after the fed minutes. Fed is split on rate hike want's to see higher inflation first. Prolly not gonna raise rates this time around dollar weakness should resume ...slow these shorties up add in a nice report back to 47.50. Looks like its gonna ride between the MA's im for 5300 shrs of UWt @ 15.35 avg feeling a rally tomorrow.
The grinding lower action feels like big money shorting might be more to come because the API was bullish hopefully the EIA will send this back up thats my play this week lol they gotta cover at some point since were in a pretty narrow range prolly happen sooner. Dollar showing weakness kind of a head scratcher looks like big time manipulation.
Shorties running out of ammo
13.17 rather
Gonna follow it down with some buys got 500 UWT @ 15.17
Big shorts big cover think they are late short term gonna average down the Uwt if we get another dip.
They probably have that priced in will see time to flip long
I was just looking at the ticker.. It started grinding down then I sold thenI looked at the chart. Lol
Forgot the report was after hours lol glad I got out.
Didnt see the report yet closed my short earlier whats the read on it
Dollar reversing is going to add more fuel to the drop here fill that gap on the UWT :) Cha Ching.
What do you think of the build in gasoline? Kind of odd for this time of year. Im wondering if the draws in crude may be an indication that the high reserves of crude may no longer be a big deal because they can easily be built back quickly from domestic shale production seems like thats the new game here to me. Why store it when you can pump it as needed?
I'm still working im feeling an epic pull back coming trade at your own risk Even the technical guys should see that coming.
I'm all giddy after the gold rush I'm trying to settle down here. I'm in for 1k shrs on the D @ 27.55 close. That's 27,550.00 lets see how that works out win or lose. Gonna go short gold after all these fools realize dyin ain't much of a living prolly Monday around 10am just a guess
Thats due for a correction anyway shorts are getting hungry in the broad markets. Earnings season winding down some good buying opportunities coming up at least thats how it usually goes add some international tension there you go.
Agree will be interesting to see how Dopec positions themselves today. Im thinking short term the Saudis will come with some big guns to the game given the fact they need to prop up oil for the pending Aramco IPO the meeting will probably be led by them judging by the fact they have the most chips in the game right now. Just a guess. Still in cash here riding the gold swing for now.
Don't worry just buy more shares and hold I'll check back with you tomorrow it's gonna run big.
Well if people knew the fundamentals they would have bought gold right when trump got all fired up ): well cue the dump no oil in North Korea. Oil looks like it's about ready to roll over and play dead still waiting.
Opec is starting to sound like the boy who cried wolf. There aint no wolf hopefully their days are numbered and F them. When they do cut there are plenty of barrels waiting to fill the gap. Will be interesting but im thinking the game has changed in oil. We shall see sitting tight on cash. Waiting.
Thanks Kam thats very interesting for sure as we always look for patterns both technically and fundamentally thats how everything works. I certainly appreciate your input and experience. Great post lets see how this pans out. Sounds like Goldman is back to work with Aramco they might just want the floor at 50 will see.
Quote
"Gross longs up over 100k contracts and up only $1.27 for the report week. Last time they pushed up like that with only 85k contracts WTI moved up a whopping +$5.70. "
Please post You used to post that but the ta guys just sit in front of their screens looking at candles all day what is the open short interest this week ? How much paper is short? The more info you have before making a trade the better you guys are acting like little girls lol
Hey can I get some whine with that cheese whats going on in here? Don't drink the oil. My little toe got caught in some weak bear trap yummy yummy paper barrels for sale.
Could be the old Goldman bait and switch help to drive the price down near term short it accumulate knowing the insiders and later run it up much higher. Looking into it. But thats the old game. Second round of Sanctions if they happen in Venezuela who btw has the highest oil reserves in the world albeit lower quality crude could be a problem for the bears.
Play the price action anything goes right now IMO. Haven't seen a compelling trade here yet. When considering the often shamed geopolitical risks and fundamentals on this board lol.
This is interesting yummy yummy Goldman paper barrels to short ... https://www.bloomberg.com/news/articles/2017-08-02/who-needs-100-oil-majors-making-more-cash-at-50-goldman-says
Yummy Yummy paper barrels. Hangman sing me a song.
As usual is right and the MM's traders played the stops. Loving the price action now. Focus. There is a gap to be filled on a certain ticker I won't mention it again but it starts with U Lol!
Looks like a good bet sanctions kicking in on Venezuela dollar got hammered again
Someone flipped the game on switch over here again.
What company? There is no company. Money is gone lights out they cashed out months ago game over.