Somehow I think Oil is the leading indicator for stocks (SP500, Dow, Nasdaq) now. When Oil falls, stocks also fall and they all follow. The majors (SP500, Dow, Nasdaq) shouldn't do that but because of all the "programmed" functions, they just do until they diverge out. At this moment, the close correlation is intriguing.

Yes, Oil right now, fundamentally is oversupplied - but then, what is the right price when it makes no sense to be so low anymore, right? Until all the producers decided to shut off their wells, then bam, we will run into undersupply and oil will zoom back to $100? Sometimes, the market forces just overshoot to the downside and then overshoot to the upside again.

The demand for oil actually still growing but not as fast as the supplies are available. But, below $30, I think, it already too low to make sense to even pump for oil. It takes more than $30 in more than 50% of the rigs world wide to make money.

Also, since Malaysia oil is off-shore, this is extremely expensive too...I think they are losing money everyday if oil stays at $30. No wonder, Msia govt warns of retrenchment in O&G sector. This year it is going to be tough.

Petronas maybe need to diversify away from Oil asap... perhaps sell mineral water better, since mineral water seller
can make more money this way. Everyone needs fresh clean water more than dirty oil.

Well, the thing is local funds also GLC owned. Anything GLC also supported by the govt.
The govt will continue to borrow by issuing more bonds.

Anyway, BNM reserves now at US95 bln...maybe 7-8 more months can tahan here.
If doesn't work, govt can devalue more by printing more money.
We all know eventually chicken can come home to roost. Just do not know when.

Psst.. have u consider trading AAPL directly since you're iPhone fan?

So far, the range is good. Buy at 95, sell at 100. Can get $5 each for each round. Works twice already.
Earnings will be out tomorrow, I think volatility will be moderate too (5% up/down) but not as scary as DWTI.

DWTI!! All aboard!!!

No lah... yesterday. Got a bit overnight. holding breath some more.
Now, must take money a bit off. Angpow for this weekend.

Not really. US and EU market just go on its own despite asian market go into hiatus with lack of volume.
The machines are in control.

But, like last time, I think the gaming stocks (with presence in Macau) should be interesting to watch during CNY.

Gotta to break 27.50 first.

DWTI needs to go back to 480 if happens but looks like this time around, it is weaker?

Amazing.. how can CHK worth less than $2 per share? The machines have gone haywire...
This is worse than recession.

Waah. Oil bulls are fighting hard to keep above $30.

Amazing... crude struggling and fighting at $30 but XLE bounced back from the low even in this down market.
Got $1 from the low already.

I prefer FB. It coming down to buy point again...

GS must be short again ahead of time.. so when the public sell, they cover again to pocket bit time.

Oil is back to re-test the 27.50 support, DWTI at 385.. eventho it is not as high as last time, but time to book it lah!
Cannot be greedy one..

This post has been edited by danmooncake: Feb 10 2016, 10:26 PM

Yellen speaking... she's saying BUY.

Better get out from shorts now.

Waah... US congress damn hard on Yellen. Hantam her words for words trying to make her feel bad.
Gosh.. it is tough to be Fed Chair.

Wow.. the bulls got whacked down by Congress too when Yellen unable to answer some of the tough questions.
Darn hard.. Have a feeling Congress are backed by the bears.

This post has been edited by danmooncake: Feb 11 2016, 12:13 AM

Whoa... dow futures -280 pts,

Sp500 gonna break last month low at 1812.

Waah. 26.50 already here..previous low at
27.50 already busted.

That magic number 25 should be in sight soon.
The problem is.. will the bulls step back in or
will they stand aside and let it slide to $20 ?

The shorts will likely take opportunity at gap down to take profit and cover.

Still.. it will be interesting to see if it can recover back to 28 by closing.

Anyway, SP500 at 1800-1815 is flirting with disaster. Really ugly looking now.
Huge H&S pattern.