Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Typo on last post DWT gap between current price and 29.57 in for 500 target 29.15. Hold until it fills.
Nice gap to fill on UWT and they always fill looking there now
Got out already around 48.10 waiting on rig count numbers. Secured s nice win there. Might bite back this afternoon in cash on oil now
Oil services should continue to be outstanding nice pick there they are facing a huge labor shortage which in my opinion may add to the downside when people figure that out. Plenty of oil out there. Demand drops initially then spikes down the road in the recovery phase we just saw that with Harvey and it looks like much demand will be lost when Irma wipes out a good portion of South Florida. Knowing when to flip is the trick 47.50 ? - 49.50 ranging perhaps? Just a guess. Lots of big oil hedged at 50 so it might not be easy near term for crude to go much higher than low 50,s . Staying short broke down through support today.
Was looking for it too but I think the news traders were paying attention to today was more on the baytown refinery coming back online among other things and sn extremely weak dollar after the ECB meeting. Hey tomorrow is another day see if it breaks down through support which was right at near 48.83. My trade still open on the short side.
Stubborn at 48.83 move down through there we go lower.
Que the dump right now
Could retrace hard today :) watch the fibs. Plenty of room down.
Was thinking the same thing did you mean a larger build than API correct?
Thanks Kam looks like this should move down a bit.
Maybe some profit taking end of day
Still hanging on the short side just seems like it has to test lower first. Will see.
Saw the dollar come back right. Have to agree the report will probably run it higher. Market seems to think so.
I was looking for a pull back then move up to 50 maybe next week have to see the report could push it at any time. Definitely showing solid strength on this move. Dollar got wasted today how low can the dollar go geesh.
Que it up!
I know how you operate lol good luck.
Looks like oil is going to track the overall market which seems ready to crack.
Lots going on out there tough call here... think thats a good move. Looks pretty overbought right here.
Markets nearing overbought trade gap was smaller than expected think we get a spike in the markets then they begin to roll over the VIX hit an all time low in the 9's don"t see it getting back there. Gap in S&P will get filled. Markets starting to crack. Hurricane fears later this week. Monday should be a banner day for TVIX.
Good Morning think we pull back first pleebs then consolidate shorties are going to be doing the same I believe. I am avging up on the short side Libyan pipeline coming back online among other things. API looming trade it. Good Luck today
Tough to hold TVIX liking those odds tho brother
Kind of a tough call since refineries are mostly back up and running. I would guess the shorts will be back since they just got hammered. Have to get up early and watch the premie action. Im grabbing a starter short side trade extended hrs 500 dwt just never know. Always protecting capital career day on the long and short side today. Good luck fun fun.
In light of this storm which is now the strongest hurricane ever recorded in the Atlantic and given this big move today we prolly gonna retreat to the short side again good luck all. Watching the D
Another monster storm heading for the gulf gonna get interesting again.
Theres more I think intraday pull back 48.65 resistance gonna ride that short then get out for the day. Lots of big green candles should pull back
Nice gonna take my own profit here flipping short for a spell. Shorts got whacked hard as predicted.
Shattered resistance :) gapper above the wedgie :$
47.50 support or resistance ? Thinking support . Rig count was unchanged prolly because they are trying to see how fast the idled rigs from harvey will come back online. Im thinking higher this week because of other factors. Refining capacity should return soon news on that will only help price and tensions in N Korea going to add more to the upside Saudis will continue to talk cuts and they just raised prices on shipments to Asian customers shows they are confident that prices are going up all my opinion.
Schwing likewise
Be interesting to see how they close out the holiday weekend. Short week next week most traders probably where they want to be. So whippy for
now. Reports have been bullish rig count pop maybe?
I know he is but he cant be right all the time. No offense kam love your work here. Only good news can come now refineries are coming back on line business as usual soon
No stopped out of my large position Tuesday made some intraday money not great this week accumulating down here 1k shrs in long here
Buy the dip its gonna snap back hard waiting
Which way will she go? Im thinking 55 oil now
I didn't mean today. September lots o shorts I mean lots o shorts nuff said. Did you see that pop that was big money shenanigans alright.
On the way to 50 I wonder if the rig count will be down again tomorrow? Lol
Could be lets see if this holds up around 45 and some change. (If it gets there). Should be some wild swings. Those draw numbers haven't registered yet think trading into the EIA report might go better.
Thought the energy of the downside move was pretty weak all things considered this was't as bad as it could have been. This is just a setup for an inevitable move back to 50 or higher. Probably going to see some big draw downs up ahead took the loss stopped out . Always protecting. Harvey head faked and went right or would have been different today. See if these refineries can get back online quick enough to stall the decline.
Looking for 48.50 target or gonna be wild and wooly
If any one wants to make a some money I would buy 1 k UWT right 13.93. My avg is 13..72 @ 6800 shrs. Lets get to 50 WTi . LMS
Now that we have the fundamentals loaded lets take a look at the charts.