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Yes there was a ton of hedge funds long to boot. I was trading during that first mini selloff in the market Thursday or friday and my Etrade trading platform went down. Total BS does anyone use Suretrader here? Can someone give me a good recommendation for options day trading and swing trading mostly equities and etns. I am going to dump etrade. Was also looking at tradestation and speedtrader all replies appreciated.
Nice trade yesssss.. Thinking it will probably take a breather then bounce around 55 for awhile
Look out beiow wink 20.50 it is
Perhaps we have plenty of oil ready willing and able to fill the gap until Brent comes down to earth which it is going to IMHO.
Thinking back yeah I would say 1.50 - 1.75 gas would be fair that would put crude around 40 all things considered. Still have Brexit to deal with. Maybe it will be Brent Exit not looking good there.
Venezuelan default didnt even move the needle the cake is baked for the shorts looks a slow unwinding of long positions possibly in order to not spark a big sell off so the big boys can get out saw the same thing happen to the upside wave 5 coming to an abrupt end. Will see.
Still working there bro the price action is pointing lower that is for sure. I think there may be some real scandals on the the way here Citigroup long positions for one just a hunch.
I am starting to think the takeaway here is going to be real weak demand for gasoline in the US and heating oil will be even worse for many reasons. Not withstanding all those vehicles replaced during the hurricanes will be a net drain on demand for one.
Credit Suisse is only a few more scandals away from BK. 135 mil payout on FX scam today. They almost face planted last year. US tax Regs are going to be no bueno for Credit Suisse when and if they ever happen. Happy Trading the TVIX.
Are we toe dipping down? Appears
so. You techies know what that usually means If the wheels come off not much support down to 55. Fun fun fun till daddy takes your techies away.
2025 ? Haha glad they found a crystal ball thats why they are trying to get out of the oil business. They are losing that market share battle this year . No tears here. Since the US export restriction was lifted. Brent is going to have to come down to compete with US exports what a simple concept now so evident. They now need to slow down that market share bleed. Kind of a double edged sword for the kingdom not sure they anticipated that one when they tried to squeeze Texas out of the market. Happy Trading.
Out for the day take another look tomorrow GLTA
WtI rejected pretty soundly @ 56.93
Short term resistance now is this gonna roll over ?
Back in on the D @ 17 1k shrs battle ground at 56.83 WTI 5% SL.
Uco flirting with the 50 day could be look out below... got some ominous technical crosses setting up there along with the fundamentals be careful IMO.
Out on that trade 17.40
Watching for the Brent spread to tighten GLTA
Only thing holding oil in overbought territory is Saudi risk premium right now IMO. Dollar should rebound near term rising interest rates seasonal pressure rising rig counts and big net long hedge positions recovering refinery out put give further near term short bias for a swing trade lower here going short with 5% stops on the D Saudi extension of output cuts are priced in IMO . Will add incremental rising trailing stops to 3% on moves lower GLTA. Filled on the DW at 16.88 for 1 k shrs.
The total U.S. rig count rose by 9 to 907 in the latest Baker Hughes survey, reversing last week's decrease of 11 as well as the trend of eight declines out of the previous nine weeks.
The count of active oil rigs also rose by 9, bringing the total count to 738, and gas rigs remained unchanged at 169.
Right back to 56.83 lol consolidating looks like it got rejected again not really a good sign but starting to make higher highs battle zone 56.83 on the tape.
IDK could be a dead cat bounce off of 56.50 looks like it so far will see.
Lets see if we get that test looks like resistance is building at 56.60 WTI.
Kim jung Very ill think he got handed his lunch. His sister would be better off running that cleanup operation.
Hopefully the anti trust laws will catch up with these boys. Im just sayin you may have heard it here.
Its like tomorrow we will be flying to work in electric planes? Right?
Still gotta test 56.25 at minimum b4 it has a chance to move higher IMO. Going range bound if you ask me a bit lower from here but im only right half the time luckily I trim my losses quickly preserving capital lol. Doesn't anyone remember the bears saying 50$ was pipe dream? So why not higher ? Has to be some serious hedging going on at these levels loving the action good luck you oil junkies.
It didn't hold today Crude 56.83 pivot looks like it wants to pull back killed it on the short today went in after that spike that was no dribble for da kid. Big red candle intraday. The WTI chart is showing weakness no doubt that Saudi scandal artificially pumped the price. The WTI daily chart is still in nosebleed territory. Im betting we go lower for a spell.
Credit spreads and luxury goods. This market has topped.
Aapl borrowing money love it.
Buyers are exhausted good old fashioned profit taking Imho. After all its getting real chilly. Guess those driver less cars will have to wait awhile. LMS
Just a guess but Im going to short the brents. Lol
We have our new range..
57 - 50.
Im a Fang stock and I buy everything on Amazon I just bought the new apple watch and then I picked up the new I phone X. (At a Hugge) discount. Because no one is buying that thing. Wanted one for the holidays but Eh you get the point. TECH BUBBLE. See you on the other side.
WTI the new Opec lets dip and rip. Brent is done. IMHO. Glta
Looks like facebook will be the first Fang to hit the skids.
My chart is telling me 20.50 UCO short term. Extended here IMO. Down here would usually be the normal move all things considered but lots going on out there. Slippery fish zone. GLTA
If it breaks support at 56.83 going on the D fence. Shorties are flat overbought ya think?
Vix just Trixs and Hoes. Retrenching.
OIL OIL OIL Saudis have said they would do whatever it takes. See how long this lasts. Story os always changing selling into this rally with trailing stops.
Still long agree should be a short cover party short term