VIX is low, index is high, broad market is hard to rise strong in coming days.
so ya, bet on bear is relatively safer in a way.
good luck to you!

will have to see later.

wild swings again tonight, i think:

the American Petroleum Institute on Tuesday showed U.S. crude inventories rose by 2.2 million barrels in the week to July 8 to 523.1 million, compared with analysts' expectations for a decrease of 3 million barrels.

since iea made a statement before eia data is released, likely eia will report stock buildup too, like api.

wti retreat to <45?

ok, dow/s&p can continue to rally!


http://www.cnbc.com/2016/07/12/oil-prices-...ude-stocks.html

commodity seems broadly rebound. I see copper, silver, gold, oil....all rebound.....weak dollar cause all this? maybe world consumption rebound as well....broad world economy recovery begins this 2H16 for real?.....

it's probably a mixed picture.

china, the main consumer of commodities is showing lackluster performance:
http://www.cnbc.com/2016/07/13/china-june-...ts-decline.html

commodities... some rebounding like mad, some still in doldrums. can't lump them all in one.

crude... many nations depend on it to survive, a sole source of income, cannot pump less. plus all those floaters now with so much in stock.

one thing for sure - we will have cheap petrol and "low inflation" for a long time.

like bnm says:
http://www.bloomberg.com/news/articles/201...-as-risks-mount

if u wait, sell now...27.00 only.

US crude stockpiles fall less than expected at 2.5 million barrels: EIA


4 out of 5 times, eia data is opposite to api.

so, wti should be going back to 44.xx.

hazardous times... very easily burned by uwti/dwti.

scary volatility.
if 44.80 can't hold, may look at 43.40....

becos the oil bulls and bull traders rather keep stocking up looking for profits!

the cold fact is every two humans on the planet can hold one barrel at home now.

and the producers can't stop pumping...



dwti sold 87, nice.

Sometimes, I think those numbers (API and EIA) do not matter much but rather cause the kneel jerk reaction
and push prices towards the extreme side of the range if they cross over a technical line.

Right now, we're still in this mid-term range here: 44.50 to 51.50

But, since we're at the low 45 range here for crude and general market at highs, I think if the general market pulls back, crude could likely test that floor and if more bears pile in, that 44.x floor can collapse.
So, better put a tight stop here.

This post has been edited by danmooncake: Jul 13 2016, 11:19 PM

there's one video i saw yesterday...

the guy said average for 2016 should be 41.

which means we will see 30's again later in the year.

that's trouble!

Nicely done!

Anyway, thanks for the heads up on SZO but it is difficult to see that chart.
On the other hand, DWTI despite its leverage move for inverse crude, its chart is forming a nice nice saucer-like shape and moving up on the far right side. It looks bullish and readying for another push to 90-100 level.

This post has been edited by danmooncake: Jul 13 2016, 11:45 PM

oh, yes...

looking for a chance to dive back in.

already testing 44.80 immediate support tonight.....looks like high chance to dive towards 43.40 in coming days....

now, lucky i sold yesterday. if hold until now, die die already.

dow is still green at all time high.

if it crashes, will be fun to watch wti.


also, fri rig count... if rigs added, it'll compound the pressure.

so, will wait for chance to go dwti again later or tmrw.

Got spammed....

Can we short sell this business?

wti closed off lows but could not recover above 45.

will see tmrw.

gudnite!

i reported it.