wti... 10 sessions, 16% rise, incredible.

some profit taking now.

but if api/eia data tmrw is positive, it can continue rally until $50.

becos there is no negative news at all at this time while "opec talks in sep" still reign.

tread carefully!

man this is scary shit... short or long!

the "opec talks" optimism worked wonders, push wti up 18% this round!

question is will it last for another 5 weeks until the actual meeting.

api just reported draw in crude, buildup in gasoline.

eia data tonight will jolt things again, no doubt.

profit taking will happen but the upward momentum is still there.

supposedly production problems in venezuela and nigeria helped prices rise too.


if there will be no bad-bad news, that's where it wants to go, i think.

but overall, very risky to short big or long big, imo.

play small ok.

and the oil rally continues...

safe la...

wti will be 50 by fri.

should!

2am fed minutes... if dovish or not as hawkish as feared, it will shoot up.

well... fomc minutes weren't exactly dovish.

oil price should now rise or fall with what comes out next from the mouths of the saudis-russians-iranians.

good:


bad:



just gotta be very careful if there will be another leg down in the making.

that, u got it right.

i think it will attempt 48 tonight.

but won't be easy to stay above it.

maybe take a breather after such hefty gains...

This post has been edited by AVFAN: Aug 18 2016, 10:57 PM

this oil rally is spectacular.

news has it that hedge funds are now taking major long positions.

and comparing wti vs brent charts, wti should be near 50 already!

this oil bull rally is so steep that it is scary.

but it does look unfazed, determined to get to 50-51 come what may.

gotta be very careful as it approaches it.

seems hedge funds are pushing it.

from the patterns of the last few days and now, it looks like it will attempt to cross 50 tonight.

rig count data at 1am.

will be fun tonight.

taking a pause from the market?



olympics badminton... fabulous matches this evening.

lee chong wei beat lin dan, will go for gold.

spanish woman wins singles gold.

coming up... malaysia men doubles going for gold!

(msia has never won an olympics gold, maybe holiday monday if they win! )



ok... back to stocks, oil...

all wound up, all eyes on rig count at 1am.

if count decr or small incr, i bet it will shoot past 50.

quite true... both pairs became very nervous towards the end of the 3rd set.

the winners won not becos they were better but becos the other side were more nervous, made more mistakes.

with this, wti likely to take a pause.


Oilfield services firm Baker Hughes reported the number of rigs operating in U.S. fields rose for an eighth consecutive week, increasing by 10 to a total of 406. The report marked the first time the count has exceeded 400 since February.

fireworks in the making...

wti down 3%.

back to <40?!

hehe... to long or to short...?

i took 1/2 profit on fri, took the rest at opening.

then went short.

will see later if it was profitable move.

pretty boring session.

but got some ikan bilis in the end.

off to bed...