if S&P is 875 oil will be around 52.50 , it may be temporary spike but the spike happens . Oil is not ignoring S&P , even if oil fundamentals based on today IEA action . again this is when S&P is 875 and no other OIL demand reports till s&P 875
based on 60min and faliure to break 51.84 i believe we will head lower no matter how the equities perform tomorrow. I am looking for test of 49.00 in the asian and european session. Faliure to close below 50.00 is a bullish sign though
Thanks Usman for that analysis. one last qustion for today. can u briefly summarize (generalize) what normally or u think about the asian and european session
didnt quite get you if u mean what I think will happen in those sessions, i expect crude to fall towards 49.00
In contracts "Floor Only". Source: New York Mercantile Exchange. FUTURES: Energy 1500 ET Light, Sweet Crude Oil 27,656 Sweet Crude "e mini" 0 Heating Oil 4,857 Unleaded Gasoline 0 Henry Hub Natural Gas 6,234 Natural Gas "e-mini" 0 RBOB Gasoline 5,807 Northwest Europe Gas 0 Propane Gas 0 Central Appalachian Coal 0 Metals Platinum 0 Palladium 20 Electricity PJM 0 TOTAL FUTURES VOLUME: 44,574 FUTURES AND OPTIONS: Energy 1500 ET Brent Crude Oil 0 OPTIONS: Energy 1500 ET Light, Sweet Crude Oil 61,618 Heating Oil 320 Heating Crude Oil Spread 0 Gasoline Crude Oil 0 Crude Oil One Day 0 Unleaded Gasoline 0 Natural Gas One Day 0 Henry Hub Natural Gas 777 Metals Platinum 0 Calendar Option WTI 1-Month 0 Unleaded Gas WTI 1-Mth 0 RBOB Unleaded Options 848 -By Rodney Christian; Dow Jones Newswires; 202-646-1880; csstat@dowjones.com
Goldman 1Q earnings surpass Wall Street estimates Goldman Sachs earns $1.66B in 1st-quarter, surpassing Wall Street's estimates http://finance.yahoo.com/news/Goldman-1Q-earnings-surpass-apf-14915037.html NEW YORK (AP) -- Goldman Sachs, in another sign that banks may be turning around, beat Wall Street's earnings expectations as it reported a profit of $1.66 billion for the first three months of this year. The bank also said it planned to raise $5 billion in stock to help it pay back government bailout funds. The New York-based bank said it earned $3.39 per share, easily surpassing analysts' forecasts for profit of $1.64 per share. This compares with earnings of $1.47 billion, or $3.23 per share, in the quarter ended Feb. 29 of last year, and is a huge improvement over the $2.29 billion Goldman lost in the fourth quarter. Goldman's news, released a day earlier than anticipated, came days after another top-performing bank, Wells Fargo & Co., said it expected to report record first-quarter earnings of $3 billion, well above Wall Street's estimates. That news fed a huge stock market rally Thursday, but with companies including Citigroup Inc. and Bank of America Corp. still to report their first-quarter results, it's too soon to say the banking industry is indeed finally recovering from the devastating losses caused by the credit crisis and the recession. Investors showed some caution after Goldman's announcement, which followed the close of regular trading on Wall Street. Goldman shares initially rose in response to its report but then slipped 1.5 percent. Citigroup, which surged 25 percent during regular trading, rose a more modest 1 percent in after-hours activity while Bank of America rose 0.7 percent after jumping 15 percent during regular trading. Morgan Stanley fell 3.3 percent in late trading after jumping 6 percent during regular hours. Morningstar Inc. equity analyst Michael Wong said Goldman benefited from the fact that it has more traditional investment banking and trading operations than more retail-focused banks like Citi and Bank of America. "What allowed Goldman to outperform is solely tied to their brokerage operations," he said. Still, Goldman's first-quarter performance put it in a strong enough position to plan the public stock offering of $5 billion which it said would be used, with additional resources, to pay back its government debt. Goldman received $10 billion in government funds during the downturn last fall as part of the U.S. Treasury Department's program to invest directly in hundreds of banks and try and help alleviate the nearly frozen credit markets.
Traders have been cheered by early signs that U.S. banks may be stabilizing. Goldman Sachs reported Monday a profit of $1.66 billion for the first quarter, beating Wall Street's earnings expectations, and a huge improvement over the $2.29 billion loss that Goldman reported for the fourth quarter. Goldman's news, released a day earlier than anticipated, came days after Wells Fargo & Co. said it expected to report record first-quarter earnings of $3 billion, well above Wall Street's estimates. Banking giants Citigroup Inc. and Bank of America Corp. will report earnings later this week. "We don't have the feeling of being in a free fall anymore," Christoffer Moltke-Leth, head of sales trading at Saxo Capital Markets in Singapore. "But we've seen quite a big rally, so I wouldn't be surprised if stock markets and oil come down a little." The market was still mulling a forecast cut by Paris-based International Energy Agency, which said on Friday it now expects global demand this year will likely fall by 2.4 million barrels a day to 83.4 million barrels, or 2.8 percent lower than last year. "The old theme of demand destruction is still controlling crude right now," Moltke-Leth. "I see a range of $47 to $53 holding for a while."
Usman, Pls if you are there prompt response to this. I seriously salute you...........if u in the army you probably get a silver start today. that was an excellent call you made last night. Pls can we get this going......
@xty thnks it was an easy profit down from 50.90 to 50.30 upon release of news. I will now be looking to short as soon as this shows sign of weakness reason being a Gartley sell pattern on 60 mins chart EDIT: Shorts added as 50.55 SL 51.25 TP 49.10