WTI going back towards $55 again... albeit slower this time.
I'm getting take profit if it hits $54.

Noticed that both of them started at $25. If one has shorted both of them at start,
one still can make money even after covering the losing side due to the decay.

Crude hits the $54 mark, XLE hits $76. I'm out in cash for the weekend.

Dow almost got to 20k but if it can't make it before Jan 20th, I think I'm going to be extremely bearish.

Wow.. luckily cashed out last week. WTI retreats 2.5%

Oh man.. oil down 4%.

Where's the cut? OPEC lying again..

Down another 2%.. not sure what's going to happen next but if it can't bounce off low 49 later, we'll
go back down to that 42-48 range again. OPEC becomes laughing joke.

Crude happy again... up 2%, back to 52.

The bulls are dancing at the near the Dow 20K finish line..
Still not willing to cross over yet. Just teasing...

Oil still good so far.. slightly above my mark of the sweet spot of $52.50, so I think it is still quite bullish for now.
Next week, will be short trading week for market but I guess it should be stable for Oil for now.

Gotta to wait till more reports of production levels from OPEC to really know for sure if
they are really cutting back or just talk only.

Back off 1% again.
It's going no where. Got one more week to go.

Still hanging around here between $51 and $53.
The range is getting smaller..

I'm in cash and waiting.

There's a chatter on the wall street now.
Buy the Election, Sell the Inauguration.

Watch out, Oil up 2% despite bearish news..
Still holding here. Probably will wait till next week to play.

Trump taking oath tonight..

Very tight range movement... indeed!

if gets close to 50... buy
if gets close to 55.. sell

But, market hardly give you the chance sometimes.
Just have to put orders in 1-2% below the current target relative price.

Trump in charge of the bulls...that's why.

Next is for SP500 to break 2300.

It looks like there is almost a 4-points spread from 50 to 54 actionable trade. We're 7 weeks into this range now.
The sellers are jumping in 54-55 here, hampering it from going higher.
As it gets into the 50.xx zone, just BUY and upper 53.xx zone, SELL'em to lock in profits.

Let say if 50 floor fell if US decides to flood the market with shale again short term,
I think the lower sub-floor at 44-45 should hold and buyers still step back in.

For the next 4 weeks outlook, I think the bulls are still in control here.
I am thinking of selling some OTM puts around here and play this waiting game for next month.
If we turn south, I get to own some oil stocks when it is down at the 44-45 zone and just wait for OPEC cuts to take effect.

Anyone else seeing this play?

This post has been edited by danmooncake: Jan 27 2017, 02:52 AM

Talking about DWT/UWT... both started at $25 two months ago when oil is at $50,
Now, oil has gained 6%, DWT lost more than 10%, UWT gains only 4%.

If continues same range ($50-$55) for next 2 more months, both will eventual go below their initial $25 price.

Here comes the dip... bears coming out to play.

Not sure about Asian markets... but I think this dip will be bought when it gets to the 50ma support level.

SP500: 2247
Dow: 19650

Both SP500 and Dow are still quite bullish.

Super bullish is the Nasdaq... nothing stopping it it.

As for Oil.. since we're still above $50, we're still in upper range ($50-$55) game play.


This post has been edited by danmooncake: Jan 31 2017, 11:11 AM