Discussion in 'Energy Futures' started by BPtrader, Sep 30, 2009.
or was killed?
I got smoked, donated a lot of money to CL today, anyone who killed it should thank me for the donation
CL getting wild ;-) I missed the news...what did they say?
Ever hear of EIA inventory report?
Asking someone to peek at an econ calendar each day is WAY too much to ask
Do not pretend to be smarter I've missed report as I said.
I enjoy you on the other side of my trades, keep doin' what you are doin'!
Who told You that I'm on the other side??
Let me replay the first minute after the report:
Some shorts got the number, what? not that bad as I thought, damn, better cover, and price shot up 40 cents in 5 seconds.
Sideliners got the number, an increase in inventory, it should go down, let's sell, and price tanked 60 cents in 20 seconds.
More traders took a look at the number, not a disasterous number at all, just a slight increase, forget about it.
Those heavy shorts didn't get what they wanted: a big drop, their original plan of covering at below $60 was not going to happen, so they started to cover, that started an unstoppable rally, the rest is history.
This was a response to an EIA report for NG some time ago, but it might as well suit this occasion:
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