Dear Spanish! I wish you all luck and if these managers will read your thread tonight they will rethink their math exam Gosh! What a smart idea to post your thought on this here
Ignore Oil fudamentals for now - Analyst ---------------------------------------------------------- Recent rebound in global equities alongside dollar weakness hard for oil market to ignore, so traders may have to set aside doubts over strength of supply-demand factors in near term. "We have emphasized that underlying fundamentals in the energy complex have not shown any improvement and probably won't for several months. But, any additional weakening in the dollar amidst longer-term inflationary concerns will spur significant speculative buying interest especially if accompanied by further gains in the stock market," says Jim Ritterbusch at Ritterbusch and Associates. "Within such an environment, it is best to simply go with the flow in the process of pushing sizable supply surpluses and a continued weak demand environment to the backburner, at least temporarily."
Tomorrow id be interested in seeing how market reacts if it makes it to 54.86 and then to 55.26 Could be extremely good entries for sells, i think. target 51.39
Spanish, if they have really been through your thread( which I doubt... ), the most credible thing is they are trying a Billy Ray Valentine experiment( watch "trading places" if you don't know what it is ). In this case, it is a unique chance for you. They are options market makers...Don't how good at math you are, but you'd better stop trading and learn option greeks et al for the tests 'cause they won't be easy...
1042 GMT [Dow Jones] There is no support for crude oil prices stemming from prompt or near-term oil fundamentals, says brokerage firm PVM Oil Associates. "This rally is all about oil as an inflation hedge, a dollar hedge, the lack of credible investment alternatives and stock market correlations. Other than down-the-road fears that there will be a supply crunch because of canceled projects, there is nothing in current oil fundamentals to support this price rally." ----------------------- "Prices have dropped a bit this morning but remain well above $53, which is a very strong price. The question really is whether this rally is sustainable," said Victor Shum, an energy analyst with consultancy Purvin & Gertz in Singapore. Shum said oil and other commodities have rallied in tandem with world stock markets following the U.S. government's recent measures to bail out banks and bolster an economic recovery, but downside risks remain with no signs of oil demand improving. "Investors are hoping the U.S. government's plans will boost confidence and turn the economy around," Shum said. "But it is premature to say the oil market or oil demand has turned the corner. Inventory remain high in many locations and there is still a supply overhang in the oil market. Oil prices still remain vulnerable."
i dont even like trading though so dont want a job at a traidng firm! lol :/ I wont mid doing it for abit if i get offered it, but this isnt what i want for a career anymore as its very dull n boring. Still will be a fun experience if i get it
IBADAN, Nigeria (Dow Jones)--Leaders of Nigeria's oil workers' unions have decided not to call their members out on a three-day warning strike Tuesday, one of the leaders said Tuesday. "The strike has been suspended following talks with government," Elijah Okougbo, general secretary of the National Union of Petroleum and Natural Gas Workers, or NUPENG, said. "Four committees have been set up to resolve issues raised by the unions." He said the meeting with the government took place Monday in Abuja, the Nigerian capital. Executives of NUPENG and its partner, the Petroleum and Natural Gas Senior Staff Association of Nigeria, or PENGASSAN, and the Trade Union Congress then met to consider the outcome. The unions had demanded the government tackle the worsening security situation in the Niger Delta, where armed militants have made oil operations difficult and put workers' lives are at risk. Okougbo said other union demands include the cancelation of plans to deregulate the industry's downstream sector, privatize the state-owned oil refineries and end subsidies on domestic oil products. The union also wants the government to reverse the appointment of Cobalt International Services Ltd. as pre-shipment inspectors for Nigeria's 21 crude oil export terminals.
morning. Managed to post more gains in my ES trading yesterday. Gonna risk some of my profits here as im well over my target so far. Trying a short here at 53.12 - £2 per point
welldone mate, you have doen well over last week. I cant sell till between 54.86 t 55.26 today though. So unless we get a spike up i wont make any trades again today.