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Oil and Natural Gas

  • #2,361
  • May 3, 2016 9:09am May 3, 2016 9:09am
Quoting stylinex
Oil looks like it wants to go under 44 today but I am not touching because I know the minute I enter a short position it will retrace

haha so you got that karma too. I thought it was just me
  • #2,362
  • May 3, 2016 10:47am May 3, 2016 10:47am
Quoting kweiss10
{quote} haha so you got that karma too. I thought it was just me
that's because of herd thinking, divide yourself from the market herd if you don't want to be a toy in the hands of market manipulators ...
  • #2,363
  • May 3, 2016 12:01pm May 3, 2016 12:01pm
Quoting kweiss10
{quote} haha so you got that karma too. I thought it was just me
I am usually (although not always obviously) right when I see a drop forming but for some reason as soon as I place a big short order it is as if someone behind the computers sees that short order with a stop loss which says take out that stop loss before we sell so the mother fucker does a huge retrace then drops right after. Twice this week with oil . Next time I will open a small position and add after it goes my way instead of just opening one large position.
  • #2,364
  • May 3, 2016 9:38pm May 3, 2016 9:38pm
Another visit to $25-30 should finish up these companies in Texas
http://www.businessinsider.com/houst...own-2016-5?amp
  • #2,365
  • May 3, 2016 11:06pm May 3, 2016 11:06pm
Hey Traders,

What's your long term view on crude oil?

Looking long term on WTI, after an extended downtrend there was a bounce from key support $26.00. The "retracement" looks solid, do you see prices continuing to climb here on the back of global demand? Commodities have a history of having some very nice trends we can all ride.


Cheers,
Sung
Attached Image (click to enlarge)
Click to Enlarge Name: wti.png Size: 75 KB
  • #2,366
  • May 4, 2016 1:15am May 4, 2016 1:15am
Quoting stylinex
Another visit to $25-30 should finish up these companies in Texas http://www.businessinsider.com/houst...own-2016-5?amp
Thanks for that link. A useful article, and not only for this kind of data atom:
"Although the price of oil may have finally found a floor – oil prices hovered between $35 and $40 per barrel for much of the quarter – there is no recovery in sight for the energy industry."

Seems as though another construction and banking bust is just around the corner.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #2,367
  • May 4, 2016 1:20am May 4, 2016 1:20am
Quoting Exodus
{quote} Thanks for that link. A useful article, and not only for this kind of data atom: "Although the price of oil may have finally found a floor oil prices hovered between $35 and $40 per barrel for much of the quarter there is no recovery in sight for the energy industry." Seems as though another construction and banking bust is just around the corner.
If America wants to allow people to sue Saudis for 9/11 and go after Saudi assets in America Saudi could drive down oil prices in return where companies in America would lose billions. From their point of view that would be an economical war for where they say "an eye for an eye."
  • #2,368
  • May 4, 2016 6:02am May 4, 2016 6:02am
Quoting stylinex
{quote} If America wants to allow people to sue Saudis for 9/11 and go after Saudi assets in America Saudi could drive down oil prices in return where companies in America would lose billions. From their point of view that would be an economical war for where they say "an eye for an eye."
Like touching your nose with tongue...
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -1,039
  • #2,369
  • May 4, 2016 7:09am May 4, 2016 7:09am
Opening oil 44.00. Sl 44.50 tp no idea
row row row your boat
  • #2,370
  • May 4, 2016 10:30am May 4, 2016 10:30am
Hmm how far down can oil go?
TE started 6/4/19
  • #2,371
  • May 4, 2016 10:46am May 4, 2016 10:46am
Quoting Marz30
Hmm how far down can oil go?
As far as it wants to. It went up almost 10 dollars in 3 weeks. This retrace is nothing.
  • #2,372
  • May 4, 2016 9:02pm May 4, 2016 9:02pm
Oil is like a Yo Yo these days. Up and down with big drops and retraces that take out all stop losses. One can only do ok here with small entries so that retraces can be ridden out or drops can be ridden out
  • #2,373
  • May 5, 2016 1:53am May 5, 2016 1:53am
Theres currently 5 waves from the bottom and 5 waves inside that fifth wave now.. Might do some consolidation at least. or correction waves.
  • #2,374
  • May 5, 2016 4:01am May 5, 2016 4:01am
Here we go.....
"(Reuters) - Oil prices jumped on Thursday as a huge wildfire in Canada disrupted its oil sands production, while escalating fighting in Libya threatened the North African nation's output."

That said, it appears that Libyan oil output has fallen to around a quarter of its previous level following the removal of Ghaddafi. So if that is sorted out, that's a big 'if', around 1.2mmbpd returns to the market.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #2,375
  • May 5, 2016 7:51am May 5, 2016 7:51am
Chart 4H we are going up! bought @45,22 SL @44,72 trailing stop is recommended. target near 48,59/49,00
Attached Image (click to enlarge)
Click to Enlarge Name: crudeoil5mag.jpg Size: 311 KB
No stress, spread is your friend
  • #2,376
  • May 5, 2016 7:56am May 5, 2016 7:56am
Quoting drpepper72
Chart 4H we are going up! bought @45,22 SL @44,72 trailing stop is recommended. target near 48,59/49,00 {image}
next resistance for oil is 46.19 or so. But with such a move I dont think the resistance will hold.
"Bulls make money, bears make money, pigs get slaughtered"
  • #2,377
  • May 5, 2016 8:35am May 5, 2016 8:35am
Quoting manosk
{quote} next resistance for oil is 46.19 or so. But with such a move I dont think the resistance will hold.
I think breaks the resistance, but I go with trailing stop
No stress, spread is your friend
  • #2,378
  • May 6, 2016 8:54am May 6, 2016 8:54am
If oil closes tonight above 44.49 you can consider the correction finished.
"Bulls make money, bears make money, pigs get slaughtered"
  • #2,379
  • May 6, 2016 9:26am May 6, 2016 9:26am
long
risking 15 on brent
Attached Image
  • #2,380
  • May 6, 2016 10:18am May 6, 2016 10:18am
Quoting manosk
If oil closes tonight above 44.49 you can consider the correction finished.
without me..., my $42.50 down didn't materialize, because of that fire probably... ) :
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