I think this information is valuable even for the day trader. It gives context surrounding longer term trends. It also gives at least some clue as the what is lurking out there behind the shadows imo. Even as a day trader I think it is good to be aware of potential turning points that are fundamentally driven. You will see patterns imo. which compliment TA. Sometimes our day trading will occur within the context of several hours of major fundamental forces trying resolving themselves. In understanding who will win (bulls or bears) or when will things pick up this can be helpful. imo Keep it coming please.
I agree, keep it coming. Though I used S/R levels as target zones today, I can't deny that knowing the news gave me the patience to hold for target instead of rushing to lock in 20 ticks profit.
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When I got up this morning and saw the additional run up, I almost posted here, "Did they lose 5 1/2 teaspoons oil again?"
I missed that post.......... we will forever be listening for when they find the "missing" crude. no trades today, was just watching a bit after shoveling out. Gonna be interesting week. ES, CL, 6E, Si 6J kicker. Hope you guys cashed in on this day.
http://www.cnn.com/2011/WORLD/africa/02/21/libya.protests/index.html?hpt=T1 CNN) -- As reports came in Monday of protesters setting fire to a government building in Libya's capital and ransacking state TV headquarters, questions swirled around Libyan leader Moammar Gadhafi -- and whether he could be the third Arab leader toppled by the wave of protests rippling through the region. His son, Saif al-Islam Gadhafi, warned on state television of "a fierce civil war" if the demonstrations don't halt. But protesters showed no sign of abiding by the call. Libya's justice minister, Mustafa Abdul Jalil, resigned, saying he was protesting the "bloody situation" and "use of excessive force" against unarmed protesters, according to Quryna newspaper. When the protests began last week, the paper did not mention them and ran regime propaganda. Now, it seems to have changed positions, reporting casualty figures. Two Libyan fighter jets landed in Malta Monday afternoon, according to journalists at the airport. It was not immediately clear who was on board. After Libya's central government apparently lost control Sunday of Benghazi after days of demonstrations, calm was reported in that city Monday. Meanwhile, some some angry protesters in Tripoli hoped to bring about the same result for the nation's capital. Protester: 'We want our basic rights' Protester in Benghazi Benghazi protester describes offensive Libya's ex-ruling family speaks out Tripoli residents said state-run al-Shababiya TV was attacked Sunday evening by anti-government protesters. One eyewitness told CNN al-Shababiya TV was off the air from Sunday evening until about 1:30 a.m. Monday. Another Tripoli resident told CNN he witnessed Tripoli's security headquarters building on fire Monday morning.
CL is a global market and finds equilibrium between total demand and total supply, so who cares which parties trade with whom? If the total supply is reduced, price goes up. Mind you I don't disagree with the premise that it's going down. Today's bump was on barely any volume and it's not like any rebels or w/e new kinda government passes there is not going to want to make teh moneh. Probably a lot of small specs who think they're geniuses by trading the news. Will be interesting to see what happens when the big boys return to the table tomorrow.
Totaly agree. Lets see the big trades tomorrow reacting to Kadafi's son threats to burn all the oil reserve in his country if demonstrations will not stop..... What move the price is supply/demand but also speculations/expectations (for short term trades)..
When I first cranked up the platform this morning, CL was stuck in a range/flag formation. I wanted to sell 93.08 or buy 93.50, but in the meantime I traded 6E. My 6E short was a scratch on the fbo, but my CL short got triggered right after that. CL came close to my initial target zone, but found support higher, so I did a stop-and-reverse long on CL and 2 minutes later another 6E short was triggered. So I was long CL and short 6E at the same time. I wasn't sure how to properly divide my mental energy at that point, because we all know that if you concentrate hard enough on where you want price to go, it helps your trade