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  • #7,761
  • Apr 25, 2020 2:30am Apr 25, 2020 2:30am
http://www.energyintel.com/pages/eig...1070815&NLID=5

North Dakota regulators have confirmed reports that Continental Resources, the state’s top oil producer, has shut in nearly all of its Bakken production as it tries to navigate an unprecedented recent drop in crude prices.
Department of Mineral Resources Director Lynn Helms said field reports indicate Continental has shut 90%-95% of its production in the state, including all of its output north of the Missouri River and “most” of it in the south.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #7,762
  • Apr 25, 2020 3:26am Apr 25, 2020 3:26am
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Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #7,763
  • Apr 25, 2020 9:06am Apr 25, 2020 9:06am
crude oil will be down on monday enjoy
  • #7,764
  • Apr 25, 2020 11:38am Apr 25, 2020 11:38am
The total number of oil and gas rigs active in the United States was down 64 to 465 this week, closing in on the all-time low of 404 rigs during the week ended May 20, 2016, according to Baker Hughes data going back to 1940.

In Canada, meanwhile, the total oil and gas rig count fell to a record low of 26, according to Baker Hughes. The prior all-time low was 29 rigs during the week ended April 24, 1992.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #7,765
  • Apr 25, 2020 12:22pm Apr 25, 2020 12:22pm
Quoting DMA Trader
The total number of oil and gas rigs active in the United States was down 64 to 465 this week, closing in on the all-time low of 404 rigs during the week ended May 20, 2016, according to Baker Hughes data going back to 1940. In Canada, meanwhile, the total oil and gas rig count fell to a record low of 26, according to Baker Hughes. The prior all-time low was 29 rigs during the week ended April 24, 1992.
Makes a lot of sense of deactivate rigs since nobody wants to sell oil at a loss and/or also sell oil when there is nowhere to put it
  • #7,766
  • Apr 25, 2020 1:14pm Apr 25, 2020 1:14pm
Quoting Hutch
{quote} Makes a lot of sense of deactivate rigs since nobody wants to sell oil at a loss and/or also sell oil when there is nowhere to put it
the problem is the cost to shut down, cost to open back
and also USA loosing the progress made in the last years on Energy.
we will see what kind of support they receive next week.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #7,767
  • Apr 25, 2020 3:31pm Apr 25, 2020 3:31pm
today news is most of opec country they reduce the production from today 25 of April instead to cut immediately on first of May wil be to hard in one day to cut all that productin so from Monday oil will accelerate fast. firs leg up will be $ 27 next leg $ 40 go long on oil every pull back I buy, since $ 10.50 I buy ,buy,buy again and I will buy until $40 and at $ 46 I start to sell.
  • #7,768
  • Apr 25, 2020 4:56pm Apr 25, 2020 4:56pm
Quoting Enis
today news is most of opec country they reduce the production from today 25 of April instead to cut immediately on first of May wil be to hard in one day to cut all that productin so from Monday oil will accelerate fast. firs leg up will be $ 27 next leg $ 40 go long on oil every pull back I buy, since $ 10.50 I buy ,buy,buy again and I will buy until $40 and at $ 46 I start to sell.
weren't there talks on this last week anyway?
also supply will still be greater than demand in May, possibly June - where is all that oil going to get stored?
  • #7,769
  • Apr 25, 2020 8:58pm Apr 25, 2020 8:58pm
The crude oil price this week was tough.
I lost a lot of money. . .
Ninja trader Return This Year: na
  • #7,770
  • Apr 26, 2020 8:04am Apr 26, 2020 8:04am
Quoting Yuya
The crude oil price this week was tough. I lost a lot of money. . .
It sure wasn't the case. Hope you'll earn back all that money!
persistence and determination alone are omnipotent
  • #7,771
  • Apr 26, 2020 8:45am Apr 26, 2020 8:45am
chicago merchantile exchange dta on crude confirms a slight fall on crude on monday as the data suggests breadth is negative on friday trade for july contracts.
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  • #7,772
  • Apr 26, 2020 2:28pm Apr 26, 2020 2:28pm
Quoting Hutch
{quote} Congratulations. I guess trading futures is a lot better than trading cash WTI closed only $0.25 down from yesterday's close but had ample trading opportunities {image}

I was in cash before or had brokers that had high spread /commissions?
His kind of trading can be done only with those in favor, most likely in futures only?
His system is somewhat forgiving, allowing very tight SL's.
When the margin for 1 contract was $1000 a month ago - if he had $6000 account, he would usually double it in few days.
With all seriousness, it was the very first guy who proved to me in real time, that it can be done. I watched him myself.
Until then,I thought doubling acc. in 5-6 months was stellar.
cheers
making money in JimB2468 trading room
  • #7,773
  • Edited 6:02pm Apr 26, 2020 5:43pm | Edited 6:02pm
I have a feeling we can touch 20$ this week.... just a gut feeling ... after looking at weekly candle.. entered a small long from 16.560... tp: 20$ ... lets see
Extreme gut feeling trader
  • #7,774
  • Apr 27, 2020 12:44am Apr 27, 2020 12:44am
Quoting montygoldy
I have a feeling we can touch 20$ this week.... just a gut feeling ... after looking at weekly candle.. entered a small long from 16.560... tp: 20$ ... lets see
Already underwater ... holding and added few more minor ones coz very small position....
Extreme gut feeling trader
  • #7,775
  • Apr 27, 2020 1:37am Apr 27, 2020 1:37am
So those who r long will have to wait further if crude breaks 14.44$ negative bias will make it sick thank you.
  • #7,776
  • Edited 2:09am Apr 27, 2020 1:45am | Edited 2:09am
The TA seems to confirm another round of south traffic, wicks on the daily charts, both Brent and WTI (a collection of wicks usually means price will head in the opposite direction to the wicks).

"Oil tankers sit anchored off the coast of Long Beach, California, U.S., on Wednesday, April 22, 2020. Almost three dozen ships — scattered in waters from Long Beach to the San Francisco Bay — are mostly acting as floating storage for oil that’s going unused as the coronavirus pandemic shutters businesses and takes drivers off the road.

The OPEC+ and G20 production cuts begin Friday, May 1st. But there’s already an armada of oil tankers heading our way right now, ready to give us 40+ million more barrels of oil no one needs. "

https://www.cnbc.com/2020/04/26/why-...ive-again.html
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  • #7,777
  • Apr 27, 2020 2:30am Apr 27, 2020 2:30am
It's going to take some time to clear this glut. I'm still more bearish than bullish right now, although there might be a period of sideways. Still some good opportunities, however, down at M15 and M30.
  • #7,778
  • Apr 27, 2020 5:12am Apr 27, 2020 5:12am
china's icbc to suspend all open positions on futures products linked to crude oil, natural gas, copper and soybeans as of 0900 local
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #7,779
  • Apr 27, 2020 6:01am Apr 27, 2020 6:01am
Quoting tonny47
i am expecting a bit of a sell off for the rest of the day and price going down to around $14 by the end of the next week. i don't see anything positive that would push price higher, although it has been trying couple of times to break above 18. Sold at $17. Let's see
that moved down to $14 faster than expected!
  • #7,780
  • Apr 27, 2020 6:02am Apr 27, 2020 6:02am
Quoting Jade Gate
The TA seems to confirm another round of south traffic, wicks on the daily charts, both Brent and WTI (a collection of wicks usually means price will head in the opposite direction to the wicks). "Oil tankers sit anchored off the coast of Long Beach, California, U.S., on Wednesday, April 22, 2020. Almost three dozen ships — scattered in waters from Long Beach to the San Francisco Bay — are mostly acting as floating storage for oil that’s going unused as the coronavirus pandemic shutters businesses and takes drivers off the road. The OPEC+ and G20...
I never thought that kerosene would lose so much value. It is true that anything can happen in the market
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