Good morning, how are we all doing today?

Bought KNM for contra purpose.

OK time to go long FKLI

I'm buying KNM because i am anticipating a rise later in the day in crude oil, especially when BOE and ECB are announcing their rate decisions today.

BOE is expected to announce that they seen enough recovery to stop printing money, and ECB will likely mention that eurozone economy is improving. Since Trichet is hawkish compare to Big Ben, i will expect Trichet to underline measures for his own exit strategy.

Hence, i believe Trichet, and Kings comments will boost euro and pounds respectively thus propelling oil higher due to further USD weakness.

Just my two cents.

This post has been edited by AdamG1981: Aug 6 2009, 11:50 AM

The rates are going to remain the same, however the statements are what I am predicting/forecasting that will cause the usd to melt further.

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Added on August 6, 2009, 12:00 pmJPMorgan upgraded U.S energy stocks from neutral to overweight.

This post has been edited by AdamG1981: Aug 6 2009, 12:00 PM

Oil prices recovering. With ECB and BOE on deck, it looks like bulls going to win the tug of war.

Oil recover, down 10 cents.

Oil down 3 cents, going to breach 75 tonight hopefully.

Hoepfully you guys bought before lunch, if you did, congrats.

Girlfriend did, not me

So did your client buy futures?

Yup, my newsletter came out around 12:10 pm , urging to long futures

Germany factory orders coming out at 6. Let's see if crude will touch 75 tonight

Contra players have different strategy, they trade base on very short timeframe. Just look at FX, morning yen pairs down 50-100 pips, afternoon recovered 100 pips plus testing resistance.

Volatility is created because there are alot of noises (aka news). Thats why market reacts violently towards good/bad news.

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