It is very close to opening that trap door again. After that, it may jump down.

Bulls are hiding..

Everytime there is are bull activities, bears came out and kill them. Like early today... Oil spiked up 3% then gave it all back. Now struggling to stay positive.

Maybe have to really wait till $30 is broken.. before the next bullish activity.

Yup, still dancing around here at 30.50 for crude.

XLE also trade around the same relative number..around 54 as support.
It was good till it bounces around 55.. then when kaput. Managed to scalp 50c from earlier trade.
Only nasi lemak meal with anchovies, no grouper.

Congrats! It's crazy.. last hour they're still selling off.
Down -200 pts, Oil back to low 30s and DWTI back above 350.

Holy cow... even the big four Nasdaq tech stocks (AAPL, FB, NFLX and GOOG) got whacked today.

This post has been edited by danmooncake: Jan 14 2016, 05:41 AM

Scalped $1 for XLE.. quickly got in at 54, out 55.

This morning bounce is good. Not sure if it got more momo or not.

Still confined within the lower range here.

I think DWTI/UWTI tracks USO etf in 3x percentage movement.
It's difficult to find that exact correlation because of tracking errors.. but it should be approximation.

I'm watching SP500 here.. it claims back that 1900 level. If it can close above it, I think the market can recover.

Yes, USO will always mismatch with real crude price in terms of percentage movement.

If you read the prospectus of USO, there is thing that that call roll over from month to month.
When the real crude price rolls over, USO will lose some value unless backwardation occurs.

So, even playing USO more than several weeks or months can be dangerous because futures oil prices are higher than spot price (in contango) and when it rolls, they have to sell current price and re-buy at higher price. It is crazy..

Scalped another $1 for XLE.. enough for today. That gap down is very enticing.

DWTI made a huge gap up overnight.. oh the ride down could be interesting too.
We could that see gap filled if Oil decides to be bullish again the next week.

We all got roller coaster ride opportunities..

AAPL second round here at 95'ish..

Congrats!

Groupers meal indeed!

I think at this rate.. it may come.

On the other hand, with VIX surged up to 30, there is fear in the market already.I can see volume coming in.
Also, I think at SP500 1870 here is at the interesting level here.

But, another -10%, to be in aligned with "value" and "cheapy" buy, it would need to go to 1600'ish for flush out.

Waah.. no one wants to hold longs into long weekend since Monday market will be closed.

Oil is dangling at low 29s..

The only green tickers I can see on my screen are the inverse ETF and WYNN.

WYNN suddenly so bullish on this red day.

So many tech stocks on sale now.. FB, AAPL, NFLX, AMZN..CSCO, MSFT and especially QQQ etf.

Avfan, thanks for posting those tips!
Good as refresher even for old timer like us.


Anyway, I'm not sure about this part about UWTI/DWTI:

The VelocityShares 3x Long Crude Oil ETN (UWTI) and the VelocityShares 3x Inverse Crude Oil ETN (DWTI) track the S&P GSCI Crude Oil Index

When I briefly looked at S&P GSCI Crude Oil Index (ticker OIL on Yahoo), the percentage move doesn't look the same.
I still think both the ETN still try to track USO. Your thoughts?

This post has been edited by danmooncake: Jan 17 2016, 04:51 AM

Brent now much cheaper than WTI.

DWTI is amazing.. new highs everyday, printing money for players.

I won't be surprised...$400, $450, $500 when we get to low $20 in Oil.

That call was spot on... looks like WTI settled and closed at 28.46.

SP500 re-testing lows again at 1865.

Next drop could be 1820'ish (2014 Oct lows).

The bears army is here again.
Get ready for more blood at open.

SP500 has broken major support..so better wait
before accumulating cheap stocks because it will get even cheaper.

$25 for oil is getting close now.. Just $2.50 away.