The official job numbers will be out tomorrow. So, it's going to be volatile day again tomorrow.
So, whatever profits you can get, it is best to take some money off the table before the market closes.
Hopefully, Oil can get back up to 46 or 47 in a few hours.

Wow.. gotta to watch my support line too. Oil is sinking here.

Danger zone at low 45.

The trading (low) range is around 44.50 (buy area but watch this trap door) to high of 52..(must sell area).
Tread carefully here.. .watch that stop line. Good luck!

This post has been edited by danmooncake: Jul 8 2016, 01:25 AM

Guys, be careful playing here.. UWTI is quite volatile tonight.. moving seems to be faster than Oil going down.

Back in XLE half position here...mid 66 here better hold.

Bulls trying hard to defend the $45 line...

A bit of relief now... buyers coming back in at late session. I think the bulls gonna hold support here.

The jobs number will be the tell-tale sign... the API numbers were good tonight but not sure about the
govt DOL numbers.

All I need for it is to stay at this level, then can also make money for the weekend.

Not sure either... but some are saying that we'll see $40 before we see $55 first because of couple of bear cases already in place: i) the growing
inventory - China strategic stockpile is almost full now after buying so much crude during the cheapy price the last 2-3 months ii) Rigs count going back up iii) driving and travelling seasons in North America already peak and going into the second half.. just two more months only to Labor day and iv) OPEC still refuses to cut production despite so many meetings - they simply can't agree with each other and Iranians are ignoring the Arabs.

I am not sure what will drive prices up unless we can see demand up.. everything is softening now.
If UK goes into recession, there will be some other dominoes will follow.

I think likely, we' heading back down after 1-2 more rotations here between 45.xx and 50.xx range play.

Nice! General market (Dow+Sp500+Nasdaq) rally because of the huge job numbers... but Oil indeed stalling here at 45.xx

But, XLE (mostly Oil services and big producers instead of crude) so far still working and following on general market... phew! Lucky me!

This post has been edited by danmooncake: Jul 8 2016, 10:48 PM

I won't be surprised if those financial media will find a reason for it

I think at least Crude should stay here at the $45 support level with the good job numbers.

Longer term, it should drive consumption higher but then again, the idle suppliers also can fire up those rigs anytime
and the OPECs ready for round 2 fight if it happens again.

This article is saying that O&G industry may be ready to hire again:
http://finance.yahoo.com/news/oil-gas-indu...-132744732.html

You know.. it seems the only thing holding up crude tonight above $45 now is the 'good' feeling about the job market data from US despite the disappointment from the lesser inventory drawn by mid week.

I think it will make another run to 50 again by next week if here is additional drawn..then the oil bulls will think it is another demand from the better employed consumers. Might want to hang on to some oil related shares here..at this level.

For you guys playing the leverage game.. I think UWTI can hold off 25.50 as long as Oil stays above $45.

This post has been edited by danmooncake: Jul 9 2016, 12:58 AM

It can go higher next week... once the Oil bulls ignore all the BS noise again and claim Inventory level is not that bad.. they will buy buy buy.

Crude now is lagging but it will catch up with the general market later. Just hope it won't puke first...

Wow... yes indeed. All time high for Dow and SP500 yet Crude is struggling here at $45.
There was a quick dip to 44.55... it may not hold any longer if general market pulls back.
Danger zone here.

This post has been edited by danmooncake: Jul 11 2016, 10:23 PM

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

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

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

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?