nice moves ACIA, MBLY, NVDA, X, SXCP...

it's heading for 44.

time to go short!

i am surprised xle is still green...



strong market rally. nasdaq going 5k again.

If it is not for the general market rally, I think XLE will likely go down.

Here they go.. they're predicting same thing:

https://www.thestreet.com/video/13634428/he...six-months.html

We'll just continue to play this range.

From here, it looks like we got more upside than down side.

This post has been edited by danmooncake: Jul 11 2016, 11:45 PM

"oil market becoming more balanced..."

i actually can't understand that... when stockpiles are still building, production still on the rise and demand not rising that much.

i am somehow curiously fearsome that one day soon, somebody won't/can't hold their stocks anymore.

This post has been edited by AVFAN: Jul 12 2016, 12:46 AM

its 44+ now...heading for 42, then 40? recent rally and uptrend has been mystifying.
only consolation is that local petrol price might dip again, lol ...

43 will not be easy to break.

tmrw/wed, the api-eia game returns.

these two fellas never fail to create havoc every week.

get ready!

The oil market is teasing both Bears and Bulls here.

Bears need that 44.50 to break.
Bulls want that 45.50 and higher to reverse gear and move back up to $50 again.

That UWTI chart (6 months) seems to imply a bottom is forming, with a saucer like shape moving up.
If that is true.. it could mean more bad news for Oil price. But, since it is 3x leverage.. it's quite difficult to say for certain.

Anyone here got a non-leverage inverse Oil chart that we can see?

This post has been edited by danmooncake: Jul 12 2016, 01:44 AM

closest would be szo, inverse of uso.

http://finance.yahoo.com/quote/SZO?ltr=1

here's another analyst saying "oil market is now more balanced, tighter...".
http://www.cnbc.com/2016/07/10/oil-near-2-...et-balance.html

then somewhere in the text, it reads:
Other data from Friday showed hedge funds cut bullish bets on U.S. crude to the lowest in four months.

Thanks! This one is interesting...
Lotsa of gaps on this ETF. Must not be liquid..

Anyway, I put that SZO ticker on StockChart.. it's coming up on that 200ma line around 90.
We need it to break up that line to be considered bullish for this inverse ETF.

http://stockcharts.com/h-sc/ui?s=SZO&p=D&y...id=p48511706764

oil bull or bear? bear or bull? ......

yes, this szo is very low volume, not much interest.



it's closing time, wti dives back to 44.70.

despite broad market rally.

i see it going to 44.2x tmrw.

holding my dwti!



anyway, today... biggest winners are tech and financials... nice gains for my xlf and goog!

oil bear, mama bear.

papa bear coming.

Interesting tidbits..
https://finance.yahoo.com/news/asian-refine...-172300585.html

Should we expect RON 95/97 to drop soon? They just raise that from last month, right?

Wow... just less than 1 hr to go before general market closes, UWTI being pummeled by bears.
It looks like it will likely head back to low 21/22 by this week, which could mean good news for DWTI here.

This post has been edited by danmooncake: Jul 12 2016, 03:07 AM

Oil services sector in sweet spot.. hence, that's the reason, we may not see XLE/OIH falls much eventho
Crude price may fall.

https://www.yahoo.com/finance/news/don-t-pa...-183729522.html

That's only one thing to do... Buy if it dips!

This post has been edited by danmooncake: Jul 12 2016, 06:51 AM

may - crude price up
june - overall flat

july - dropped. if it continues to drop or stay low, petrol price should go down, 10-15 sen/l.

still fighting 45....

like we have seen many times, even a small piece of positive news will send the oil bulls rallying!

Oil prices rise on Iraq loading worries; bearish investors cap gains

will see later if the usual pattern emerges - asian/european traders will push it up high, then drop like hell just before nymex opens.



but really, the fall has been too sharp, some recovery is to be expected...