I am not against you opening an futures account, but I wouldn't trade it just yet. I expected a surplus last night and actually did get a surplus for crude inventory. Maybe you should start with sim.
You guys are funny. You found a magic way to predict price in the future but can't trade it. I've been watching crude for a few months now, if you are schooled in TA, the volatility produced by the report after 930 usually produces several good trades. Who gives a fuck about the actual report #? Prices react along straight lines and ranges just like any other day!!
He may have found a way to guess the direction of the crude inventory number. But he hasn't consider what the market sentiment is and how that will affect prices differently. It's true everything will reflect in price and a breakout is likely to surface. But in reality, it's not so easy. Last week, prices shot up 1.18% within 3 minutes. But if you buy the breakout, you will be caught in the wrong side as prices drops 3.5% in the hour after. These intra-minute volatility may not be obvious from chart. However, this play is still as fun as a game of 21.
I don't trade RBOB unleaded fuel, but if I did, I would short the spit out of it right now at $1.53 based on my method. Its going to fall this week. No way it can't. There's a glut.
This is the funniest shit I have read all week. Short away, and thanks for all the fish... Anyone who tries to for-see what the fuck is going to happen on Nov 30th is insane. Stay out of room 237. Stay OUT!
Not sure what all that means, but I'm just saying....if I traded this stuff, I would short it this week. Nov 30th is a lifetime away in regards to my post here. What is room 238? I'll google it. lol
All I know is, ...there's a glut and traders are gonna see it this week. Either trade it, fade it, or sit on the bench. Merely offering my opinion. I'll bring the nails next time.
Man, I feel I should be on the bench until after the OPEC meeting. I'll just chew that stringy bubble gum. Have at it! But stay the hell out of room 237! Stay OUT!
Gotcha. I will most definitely stay the f*ck out of that room. But unless Yemen deep sixes an oil tanker tonight, shorting $1.5223 as I type is bank for a day or so. But that's just my opinion. Shine on.