On another note, the broader US general market, this "Trump" rally been so relentlessly for past 30 days.

It just take 30 days for the Dow to gain 15% for what it took Malaysia KLCI 5 years to gain (or loss depending when you enter).
Even now, KLCI is down 3% YTD.

At least the Ringgit seems to have stabilize...
or could it be BNM playing the invisible hand here supporting the fall?

Hmm.. something to watch for indeed. My company subsidiary is in Malaysia and if Trump plan calls for higher tax rate, they
may shut down the factory in Malaysia and move it back to US.

I am not sure if can count on China. To be blunt, they don't put anything in if they know they get little in return.
They're even more shrewd than the Americans. They will come in and gobble up everything, lock in their profits
and move money out even faster than the ang mohs.

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?

They all turn into bears an hour later.

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

Drill, Baby, Drill!

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

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.

Obama still in charge... oh well for at least one more month.

After that, it's Trump. Trump gonna be Putin best friend. Eventho Putin's KGB
spies on US, Trump doesn't care as long he gets into whitehouse.

No sure how Trump deal with Chinese.. I think he doesn't like 'em.
He probably prefers to be friends with Russians than Chinese.

If so, I think maybe we can start buying Russian stocks if he plans on lifting the sanctions.

This post has been edited by danmooncake: Dec 17 2016, 01:46 PM

Actually low volatility this week.. I think Christmas rally already coming to end here, it may just slowly creep higher a bit more.
I am continuing to play on long side until crude breaks below $49.50 or until end of this week to take money off the table by
playing covered calls. Hopefully, just let it expires so that I can play again one more time next week.

This post has been edited by danmooncake: Dec 19 2016, 11:42 PM

Still green for crude but heck.. XLE gone red.

We all know Dow is going to for the 20K very soon..
so everyone keeps buying until we get there but it will be really funny
after it has reached that target, we start a major correction and bear market move,
Dow slides back to 15K in 2017.

This post has been edited by danmooncake: Dec 21 2016, 04:53 AM

Icahn??

Well, I feel that it is actually Rex Tillerson to watch, CEO of Exxon to be tapped as next Secretary of State.
It's about Oil. Drill, drill, drill Baby!

This post has been edited by danmooncake: Dec 22 2016, 10:04 PM

Dow 20k.. Christmas present for everyone.

AFAIK, it is business as usual but many traders will go home early leaving the computers on to auto-trade.
It's going to be low volume. Next week, 4 days week. Same as New Year week.

But, don't be surprise.. even algos auto-trades can take this to that next level. We're very close.

Sentiments and Housing market are good!

Interesting article for Oil price prediction for 2017.

http://finance.yahoo.com/news/unsustainabl...-000000900.html

Ahh shucks.. no 20k for 2016. Maybe New Year?

I'm back in playing XLE again after that -$3 sudden drop.

Hope for the best for this short trading week.

Looks like a 3rd wave coming... Could be heading down short term ($50) instead up (need to be above $53).
Stay cautious...