USA Stock Discussion v8, Brexit: What happens now?
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 Aug 3 2016, 09:19 PM
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#261
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All Stars
24,453 posts Joined: Nov 2010 
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see what the london traders are doing?
 afternoon, push-push wti all the way to close to 40. 9pm, all chicken, dump back to 39.60 or -1%. this happens almost everyday. like no confidence, so afraid... get out before closing and us side opens. on the other hand, us side usually push it up before closing. singapore traders are better behaved, low volatility, usually. This post has been edited by AVFAN: Aug 3 2016, 09:23 PM |
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Aug 3 2016, 09:28 PM
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#262
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All Stars
24,453 posts Joined: Nov 2010
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QUOTE(zacknistelrooy @ Aug 3 2016, 09:25 PM) Haha , so true i only see a big dome... heading for 38.50! Is anyone else seeing an inverse head and shoulder on light crude oil ?   |
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Aug 3 2016, 10:28 PM
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#263
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All Stars
24,453 posts Joined: Nov 2010
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3 more min to eia data.
the bulls are roaring away, ready to charge! |
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Aug 3 2016, 10:32 PM
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#264
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All Stars
24,453 posts Joined: Nov 2010
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BREAKING: Oil sinks as EIA reports surprise 1.4M barrel crude stocks build
but... BREAKING: Oil prices bounce from brief fall as big gasoline stock draw offsets crude build This post has been edited by AVFAN: Aug 3 2016, 10:40 PM |
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Aug 4 2016, 12:06 AM
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#265
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All Stars
24,453 posts Joined: Nov 2010
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QUOTE(danmooncake @ Aug 3 2016, 11:56 PM) Going back to $41 for sure... buy buy buy. if it repeats post apr 17, can go to 44 in the next day or two! |
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Aug 4 2016, 01:52 AM
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#266
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All Stars
24,453 posts Joined: Nov 2010
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wa..! dramatic!
tonight the oil bulls showed they haven't forgotten how to charge after weeks of hiding!  |
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Aug 4 2016, 07:29 AM
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#267
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All Stars
24,453 posts Joined: Nov 2010
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QUOTE(danmooncake @ Aug 4 2016, 05:24 AM) You know, that latest inventory report makes no sense. next 2 days, esp fri will be very key - last wave of earnings reports, jobs report, rig count.The financial writers were just making up stories of strange behavior of oil prices (plunges, then rally) and try to link it to the opposite direction of what is supposedly still a very bearish news for oil. But, I think it is good for us who are more technical analysts/readers than fundamentalists. It's basically oversold condition at the lower side of the range already. Must bounce back to 40-41, and hopefully it can continue to claw itself back to 44-45, we will play bear again. if wti can hold the gains and stay above 41, it should go higher from there. if it returns to 40 or lower, the downtrend may resume. i do think the bulls are all wound up, ready to charge at any small signal, nay be reading the "rebalancing" a little too quick. i am out of uwti/dwti for now, will see on fri. the thrill never stops, just gotta be very watchful! |
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Aug 4 2016, 06:23 PM
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#268
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All Stars
24,453 posts Joined: Nov 2010
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something interesting brewing now...
day time, asian traders continued to push wti to as high as 41.30. now, european traders are pushing it down to 40.50. will be fun to see what it will be at 9.30pm! |
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Aug 4 2016, 11:56 PM
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#269
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All Stars
24,453 posts Joined: Nov 2010
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QUOTE(danmooncake @ Aug 4 2016, 11:25 PM) Wow... faster than a I expected. this is scary! i am taking some slb profit off the table. |
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Aug 5 2016, 01:26 AM
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#270
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All Stars
24,453 posts Joined: Nov 2010
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1 eia report send the bears short covering, enough to take it out of bear territory.
rebounded 5.5% in 2 sessions, quite remarkable. we'll see what happens from this point. tmrw will be decisive. |
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Aug 5 2016, 01:49 PM
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#271
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All Stars
24,453 posts Joined: Nov 2010
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QUOTE(danmooncake @ Aug 5 2016, 03:33 AM) I think the bears also scare... they can't take it down further. ya, it was a short covering rally, done now.So, when they cover, it also spiked the price up. But, I think it should taper off now. http://www.cnbc.com/2016/08/04/oil-prices-...izzles-out.html will be surprising if can continue to move higher tonight. |
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Aug 5 2016, 06:17 PM
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#272
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All Stars
24,453 posts Joined: Nov 2010
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QUOTE(danmooncake @ Aug 5 2016, 02:37 PM) Tonight will be option expiration. If XLE can stay above 65 by closing, I'll be happy. very safe.wti already dropped 50 cents, can drop another $1, still safe. the bears may be back soon: QUOTE Traders said oil markets came under renewed pressure from overproduction in crude and refined products that has left onshore storage tanks filled to the rims and triggered the chartering of tankers to store unsold fuel. On the demand side, BMI Research said China's imports were weakening from records set in 2015 and this year. "China's near-term crude imports will remain sluggish due to a combination of factors including brimming commercial fuel stockpiles, slower off-take growth among teapots (refiners) and a more gradual pace of strategic stock building," BMI said. |
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Aug 5 2016, 09:30 PM
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#273
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All Stars
24,453 posts Joined: Nov 2010
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QUOTE(danmooncake @ Aug 5 2016, 08:45 PM) Wow, the jobs numbers are strong.. 225k @ 4.9%. Bulls are eager to stampede here. more like rate hike back in play, $ up.But, not sure about Crude. Oversupply concerns may still tamper any rally. |
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Aug 5 2016, 09:39 PM
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#274
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All Stars
24,453 posts Joined: Nov 2010
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think can go dwti...
wti should return t0 40.50. |
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Aug 5 2016, 10:29 PM
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#275
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All Stars
24,453 posts Joined: Nov 2010
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QUOTE(mikehwy @ Aug 5 2016, 10:21 PM) Opos....was tempted to long with uwti to align with the dows....?? i think not at this time.dow rallies with great jobs report. great jobs report raises chance for rate hike=strong $=lower crude price. then again, there is always a reason to explain things in retrospective. watch rig count report at 1am. things can change very quickly - both oil bulls and bears on the prowl now. This post has been edited by AVFAN: Aug 5 2016, 10:30 PM |
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Aug 5 2016, 10:32 PM
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#276
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All Stars
24,453 posts Joined: Nov 2010
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nasdaq flying off, again.
goog, aapl... |
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Aug 6 2016, 01:09 AM
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#277
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All Stars
24,453 posts Joined: Nov 2010
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BREAKING: US oil rig count up by 7 to 381 for 6th straight weekly increase: Baker Hughes
but nothing happens. |
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Aug 6 2016, 01:58 AM
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#278
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All Stars
24,453 posts Joined: Nov 2010
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QUOTE(zacknistelrooy @ Aug 6 2016, 01:25 AM) I have seen not much happening lately based on the rig count the change is small, little impact.moreover, last eia report says daily production still declining. eia stock report on wed have the biggest impact. dow is also holding +16x. unlikely it will move much by closing. |
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Aug 6 2016, 01:52 PM
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#279
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All Stars
24,453 posts Joined: Nov 2010
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QUOTE(danmooncake @ Aug 6 2016, 03:27 AM) Nice gain for XLE and general stocks but such a lagger for crude holding the same at 41.xx. crude is now at crossroads.daily candlesticks showing a hangman; weekly sticks showing a hammer! 200ma still pointing to 40.38. with strong $, i tend to think it will go lower next week. so, i keep my dwti, see what happens by wed's eia report. if it goes even higher by then, will cut loss. |
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Aug 10 2016, 10:05 AM
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#280
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All Stars
24,453 posts Joined: Nov 2010
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QUOTE(danmooncake @ Aug 10 2016, 07:43 AM) The market is rigged because the central banks (US Fed, BoJ, BoE, BoC, EU etc.) have been supporting this market for long time. If they don't interfere, I think we would have seen the bear market already. this is true. which makes it very dangerous when global bourses finally make a correction none of them can prop up anymore. one thing happening again now, more so with "talk of opec talks", markets are driven significantly by oil price. we watch tonight eia's report... may be a shaker. QUOTE Adding another shock to the already volatile market in contradiction of analyst expectations, the American Petroleum Institute (API) is reporting a significant increase today in its weekly U.S. crude inventory report of 2.09 million barrels, following a volatile day of trading. Markets will also be responding to the API’s report of a 3.9-million-barrel drop in gasoline stockpiles and a 1.5-million-barrel draw for distillates. Analysts are expecting that the Energy Information Administration (EIA) will report a 1.0-million-barrel drop in U.S. crude oil inventories when it releases its official weekly data on Wednesday, but the API data lends greater uncertainty to these forecasts. |
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