pretty boring session.

but got some ikan bilis in the end.

off to bed...

wanna short again but 10 min before opening wti dives...

still, will see if a chance will come later.




reminder: it's a tuesday - api/eia shockers tmrw.

numbers have been good. so rate hike coming soon? that could give good excuse for a long due broad market correction for recent all time high rally....

haha... here we go...

just a few words will shake it all up!


Oil turns positive as Iran signals willingness for OPEC action to boost price

Full reversal here...

Just prior to the market open, XLE was popping green already with futures on the general indices all green but
strangely, crude was in the red zone. The last 30 minutes, all reversed with huge buy here.

XLE already filled that gap. UWTI should do it shortly.

crazy oil bull....

tug-of-war going on.

continued oversupply vs hope of opec freeze.

maybe get a hint of direction by closing...

Every day seems to be a drama with oil ending the day at around 48.

Just a few words can destroy stops for shorts.

This Friday will start that push into the informal meeting of OPEC next month.

This post has been edited by zacknistelrooy: Aug 24 2016, 03:45 AM

down, up, down...


Oil futures declined in electronic trading Tuesday after the American Petroleum Institute reported a 4.46 million-barrel climb in U.S. crude supplies for the week ended August 19, according to sources.

looks like iran's "we may cooperate" lost its charm.

back to 47...

if eia reports >5mil bbls crude buildup, gotta do the big short.

I don't think many want to go short too big with the headline risk everyday.

not good news for oil bulls.

the americans can produce more oil very easily now.

will need saudi, iran and iraq to say, "we WILL cut deep".


BREAKING: Oil extends losses as US crude inventories rise by 2.5M barrels: EIA

What the heck?? Who let the air out

Almost got over 48 prior day.. then, got whacked down again.

This post has been edited by danmooncake: Aug 25 2016, 12:12 AM

Inventories and the Angola news may have caused it.

saudi: "we may discuss" = +12%.
iea: "glut over" = +5%
russia: "we will work with saudi" = +5%.
iran: "we may cooperate" = +3%.

china weak nos. = -2%
rig count incr = -1%
inventory buildup = -3%
fed: "may still raise rate in sep" = -2%

net = +17%, i.e from 40 to 46.70 in 16 sessions.

next... anything from mouth(s) of opec, fed, ecb, china, japan.

even libor (london) rates is now talked as a factor for rate hike!

so, anything goes...

Nice Summary.

Headline risk everywhere.

Seems oil is hovering in the high 46 for now.

frankly, i'm finding crude futures exhaustive.

think i will close as much as i can, do some bargain hunting on other counters, sit back a bit.



fri will be key - i expect yellen as usual, give little clue, say "will be data driven" for a hundredth time.

then analysts will interpret it anyway they like...

Holds off $46.50 and bounced up... come 'mon let's pivot here.

stocks and oil both appear directionless...

everything stops until yellen speaks tmrw?

i'm staying away from crude until tmrw.

today, bargain hunting for XLV and GOOG.

XLV/healthcare took a hit since yesterday due to Mylan Epipens alleged gouging - injections for allergies - 2 doses for $608.

hilary clinton tweeted: