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Been buying some of the "new" U here. looks lower risk for me at this level.
UWT volume's not too bad...1.5 mil shares so far today.
Sold some erx this morning.
It will. If oil can stay above 50 for at least 3-4 months in a row, the rigs will follow!
While all this delisting business has been going on, I ran across a couple of 3x leveraged vehicles, ERX and ERY, although they seem to be tied more to energy service companies. While they look promising to me, does anyone have any experience with these and comments about them for trading? Thanks in advance.
I've been accumulating FSESX and FSENX while using DWTI as a hedge. My hedge will be out of play until I find something else.
Russia will make up the difference by selling nukes to IRAN. Thank you Mr. Plesident!
OPEC "crawfishin'" now. Stating that oil will go up next year even if no deal for a "cut" in production is agreed upon. That dog won't hunt will oil traders. Hate to say it, but unless a real cut in production occurs, oil is heading to the high 30's IMO
Yep. Every category appears to has risen inventories.
Regardless of the Nov 30 OPEC decision...
Does anyone here believe that the OPEC countries (or non-opec for that matter), will just slow down production prior to the meeting?
Like I said, I don't believe this is over yet.
Yep, and I personally don't think its over for this move down. Might have to wait until NEXT Friday to buy "U"
This is quite true. Limbs are too fragile. That's what happens when their dragonfly parents didn't encourage them to go to the gym.
Well no. I wasn't on the set.
But really, did anyone believe IRAN was going to do anything to appease the Saudis? Maybe after hell freezes over.
breaking news: man walks on moon.
good call on D.
Good for you! Its going to take me awhile longer in my old age.
I think you meant to say stock market lizard.
After all, you run back and forth between these two boards and ask everyone else's opinion as often as I do.
Anyone get the API report? summary would be cool. Many thanks in advance.
Because DWTI took a similar hit on Thursday. According to you, good time to hold. I simply added to what I had.
Great advice for anyone owning dwti on Thursday!
As in schwing party?
Reality is starting to settle in for the U longs...
I want to se Peas make a profit, that should make most of us over here sit pretty good!
Me too. I'm thinking somewhere around 1.4 mbbl build in crude.
I never believed Iran cared to play ball with Saudis. Does Iran really want to help out a country that has made so much wealth while supporting the financial burdens placed on them? No brainer to me. In fact if oil was under $5 a barrel, it would not surprise me if Iran would be laughing at the Saudis, while they both sank.
I'm lovin them "purty lines"....
If they're smart.
That's enough evidence for me. WTI has a long time to go to get back over 50 month over month. Even if the IRAN BS talk was true, its too late in the year for a so-called freeze to do any serious good to the price of oil. I'm stickin with "D" for now!
My guess is the Fed can only kill the price of oil further.
I agree Keep your fingers crossed.....
Wow. That's over 5mil net build vs expected draw. I can't help but believe wti goes under 40, then 35 once the bs clears.
That's what my gut is telling me.
Happy to do it - haha!
"U" had a pretty nice run of what? 11 out of the past 13 days.
I'm looking forward to "D" running past 145 in the days/weeks to come.
Sorry Sandra, its all my fault. I took one for the team here and bought two shares of "U" this past Friday. As long as I own it, it will never see the light of day! :-0
I think that's true. FSENX is up about 8% in the past month, while DWTI (regrettably) is down 34% in the same period. Now all I need is to up with a strategy to trade them both, considering that the fidelity selects must be held a minimum of 30 days.
Kam, that gives me an idea. I suppose I could use a 1/3 position of DWTI to hedge, an oil fund, say Fidelity Select Energy in my retirement account? This is starting to sound interesting..
Great advice!
Maybe one of these days I'll find time to learn some hedging strategies. I'm still hanging tough here. The 15 minute chart is showing a distinct divergence in the 14 period RSI (15 minute bars), and if we get some decent selling here, it may transfer to a solid sell signal on the 4 hour bars. Keep your fingers crossed and your powder dry.....GL
Well, I suppose I'll have to put an end to this bull run..I'm buying two shares of UWTI tomorrow. That should be enough to kill WTI's prospects for about 6 months!
All kidding aside,sure hope wti hits some resistance soon. I have to admit I've been on the wrong side of this for about two weeks now.
Still have the chance to buy "D" very undervalued, around low 80's