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They just got it .. Logic would ask why would the refineries be shipping gasoline overseas? Only 1 reason no one here is willing to pay up for it. Just staying 1 step ahead of you boys.
Oil will tank
Articial intelligence LMAO
The Christmas trade stay tuned.
Short fat guys usually get slaughtered just takes a little longer.
Seasonal meaning gasoline which is the main driver of crude oil prices will be very weak. Said that before the Saudis know it and thats why they are selling off their main commodity to the highest bidder. Aramco the worst investment of the Century. Look for some big retreat from that scam. LMS
The longer term VWAP for oil is 50$ so barring a huge supply disruption the weight of that will end up driving prices a bit lower IMO. The Opec meeting is a wash small spike maybe. The seasonal demand this winter will be punishing to oil prices. Again thats only my opinion.
Yep the only reason crude spiked was because of the setback at the mega producing refineries down south great weather ahead for them. Thats pretty obvious now.
Hey JMO.
They are just ramping up to normal they lost quite a bit of cash during the hurricane season. Refineries are going to demand lower prices for processing crude.
It was a perfect storm for a crude oil rally headlines last couple weeks gave oil a big boost. Oil Rig counts were flat Nat gas rig count up by 9. Story of the week (s) iOpec meeting Venezuelan default was only technical triggering credit swap activity. Pretty weak dollar at the end of the week and the Saudi clamp down on domestic corruption . The fact the IEA projected lower overall crude oil demand going forward was overshadowed by geopolitical events. and the keystone pipeline leak late last week as well. Russia and China will continue to prop up Venezuelan oil just haven't heard much about it because the Russians don't want to initiate any negative news that would contribute to any sort of price decline JMO.. US might ease any short term pressure on VZ at least backing off any further sanctions on VZ putting sanctions on the back burner. Maduro has been signaling cooperation with US and Trump. Watching the US dollar if it can hold gains it may turn higher on on us interest rate hike expectations could put a lid on the rally. The decision to complete the keystone project through its final obstacle in Nebraska is supposed to be released Monday.
It will most likely be approved if not more upside to oil prices may be in the offing short term. Have a small initial position here with a 10% stop see how it plays out the WTI charts are very bullish with record long positions so after this spike this would definitely be a contrarian trade will see. Guess would be another spike higher then some sort of retrace.
INice win Tmm would say the chart looks a tad bullish.
Depends on the story of the day time to flip looks like its gonna range 55 - 56 ish . Saudi cuts baked in all things considered. Pump that WTI !! Will see
Too much to late LMS
Bloomberg must have some friends in the oil biz. That's stranger than fiction. https://www.bloomberg.com/news/articles/2017-11-14/iea-sees-u-s-shale-surge-as-biggest-oil-and-gas-boom-in-history
Stranger than the reality I live in.. Hello im Al Franken.
Venezuelans also said
check is in the mail lol. Hope it clears overnight.
They just passed the house on to the senate. Tougher sell over there. Price action on oil not a big move. Might get a bump here feeling like its gonna be short lived will see.
Think they have it see if it moves the needle the right way
it passes could be a nice squeeze here.
Back on the long side hopefully the tax bill passes the house today if not tmberrr. Set the stop tight.
All riding on tax reform today looks like its gonna pass should see a spike going to trade the long side now
Out going to the other side for a short term squeeze
Looks like a steady unwind lower she goes
That was after the run up over 100bbl .. Fundamentals tend to reassert themselves. What followed after was lots of red ink and a global oil glut 2 yrs later. What we are looking at now is an attempt to control the price and keep it artificially inflated by capping production. When the price cracks the non OPEC producers are going to start pumping because they are now hedged higher in anticipation of the seasonal decline in demand. The Russians and OPEC are also notorious cheaters when it comes to sticking to their caps just saying.
Just letting the short term oversold indicators catch up then I think its gonna break down.
Rolling over
Shake shake shake no real conviction to the long side money should shift away from oil im in 18.19
UBER likes lower fuel prices gasoline demand is going down price action and all of it looks like a bloodbath for oil. Short term anyway. I would recommend exiting before they all do. See you on the other side protecting capital always
It did bottom out around 54.85 pleebs we are holding above 55 barely @ 10:35 central time looks real shaky showing some life maybe wait until after the open might spike up a bit but chart pattern is beginning to stair step down on it early tomorrow good luck.
Haha they pulled the bids to get some cheap shares never fall for that have to wait for a nice spot to get back in looks like 22 is short term target might blow right through that as they run for the exits look for some counter spin on demand from the talking heads from the middle east lol last week they were pumping some BS demand numbers.
Like Aramco Lol .. what a shame. Mexico just hit paydirt they will be prolly be bringing on more supply but when demand from China slows which indeed it will and has there could be alot of red ink ahead EIA news was no bueno for oil. Caught alot of hedge funds with their pants down pretty stupid time of year to go net long after such a big run up. Oil was at 26 just last year to each his own anything can happen tho to run it right back up thats oil lol GL Mang
Glad I recouped most of my losses trading out my position on this diluted pos. Done here Gl
Should get some bounce off of. 55 hopefully that holds overnight may have to scale back in with some heavy powder
Sell ah for 18.53 nice should be able to get back in lower gapper
Got filled for 500 @ 18.05 nice should be good for 19 + 5% stop
I heard plenty of investment was starting to pour into the shale industry .. But right if they cant keep the price up price will balance all right cant sell oil for more than it costs to produce for very long obviously companies with weak balance sheets or no nat gas exposure will prolly get hammered hard right after they were starting to make a bit of a comeback.
Looking to enter again here 18.04 looks like a good spot
Most certainly unless there is trouble in the middle east .. Some of those net longs will undoubtedly go short going to create some good trading setups.
Technology is making shale lean and mean yes and EIA pretty much confirmed what I was posting here and on other boards demand is not going to increase as much as they previously reported. Tons on net longs mostly institutional and hedge funds are gonna unwind their positions if that trend is confirmed could get real ugly for oil down the road IMO. Watch the puts
Thx I just heard TD were either merging or bought out etrade lol Thank you