Let's get back to Oil discussion...

Yesterday, we got a huge gap up after non-OPEC members agreement during the weekend but it was immediately sold back down half.

That $52.50-$53.50 level seems to be battle ground here for the bulls and bears and likely bears last line of defense,
for that range of $42-$52.

With the market near year end (santa claus or window dressing), and barring any more bad news, I think the bulls got more chance here to push it up to the next trading range.

What do you all think?

before the opec meet, most were expecting it to get to 50-55 depending on the actual outcome.

for opec, i think target is reached since it was looking to return to low 40s.

with all the positive news out but still skepticism on whether all will comply, profit talking is only to be expected.

fed meeting outcome dec 15 should be a no brainer - 25bps hike.

api/eia stocks data tmrw.

i expect it will be rangebound 52-53.50 for a while, until some big event comes along.

will find opportunities to trade it.

goog... 803.

tempted to take some profit...

everyone is excited to see trumps continues surprising assignments of his team members. It's a new phrase, not an easy expectation of what can happened in near future. Now friend Russia and keep distance with China, which is a new era for US. I am quite exciting too, to see what can change in the world from him.

You are quite right on China's fund and attitude. Yes, they are more mean and selfish as that's the nature of Chinese.

However, one thing that's good for all of us is that China initiate regional networking and infrastructure, which link us all together. This creates good opportunity for globalization, as well as help us small countries build up value chain to lower the dominant role of super power such as US, inclusive China itself.

Unless Saudi is immune from the curse of skyscraper, oil price/revenue won't bare well with 1000' kingdom tower.

If oil price stay above $50 and opec production cut remain intact, shale oil will gain more market shares. how long will opec sit tied to see their market share eroded is remain to be seen.

This post has been edited by icemanfx: Dec 14 2016, 10:14 AM

Data from the American Petroleum Institute showed U.S. crude inventories rose by 4.7 million barrels in the week to Dec. 9, compared with analysts' expectations for a 1.6-million-barrel decline.

EIA data 11.30pm

then, at 3am, 3.30am...

The Fed is scheduled to release its decision at 2 p.m. ET, with Chair Janet Yellen expected to hold a news conference at 2:30 p.m. ET.


it's gonna be a long night.

Dow hits record high after Fed raises interest rates



other than oil, the rally continues.

They all turn into bears an hour later.

ya...

when i saw that, i sold part GOOG and shorted oil.

will see if that was a good move tonight!

https://www.yahoo.com/finance/news/us-drill...-173951892.html

Drill, Baby, Drill!

plus...




others...

$ index 103.10
yen 118.2
euro 1.04
10 yr bonds 2.62%
gold -3%

all that... think can short oil, buy non-oil equities on dips.

I have to buy tonight.. xle hit 75.xx.

could this be the fastest 1000 points gain for dow

Dan. looks like xle ia going to hut past its recent high of 76.50? hope it rides along with crude bulls. crude is very resilient and mihht crawl back to green to continue with its bullish trend.

hahaha...opec fellos will sure follow to drill free money from the ground...they also love money.

This post has been edited by mikehwy: Dec 16 2016, 01:27 AM

I think it is the fastest.

It is already the best post election run since the early 1900's

yup, RSI at 20 year high.
http://www.cnbc.com/2016/12/15/the-dow-may...-year-high.html


oil... ups and downs...

Kuwait Petroleum Corporation (KPC) already said on Tuesday that it had officially notified its customers of a cut in their contractual crude oil supplies for January, in line with a deal with OPEC to reduce production.

Dunkin Brands Spike

I'm staying long even for the weekend for now. Darn traders seems to fear OPEC now as they
thinking agreement will push prices higher.