http://www.reuters.com/article/2011/02/24/us-libya-crude-idUSTRE71N3LJ20110224?pageNumber=1 Even if OPEC decides to act, many European analysts and traders say the crude most readily available from other OPEC nations is not the kind of light, sweet oil Libya can ship to aging European refiners. "You are going to have to pay a premium for other crudes. If there's any sort of time constraint and you want them in a hurry you'll have to pay up to get in front of the next guy," said Rob Montefusco, a London-based oil trader at Sucden Financial. Europe imports around 80 percent of Libya's 1.3 million bpd of exports, according to consultancy Facts Global Energy (FGE). The oil is destined chiefly for France, Germany and above all Italy, which buys around 400,000 bpd of Libyan crude. Its dependency is particularly high as it has many older plants. LIGHT CRUDE, BUT FURTHER AWAY Saudi Arabia, the world's leading oil exporter, has light crude, and senior sources said it is able to supply more to replace Libyan barrels. How much of it might be available to make the journey to Europe is unclear, however. The kingdom has asked European refiners to specify the quantity and quality of oil they want, the Financial Times quoted a Saudi official as saying.
Not sure about that. Just shorted 96.94 and covered 96.62 and then shorted 96.43 and one at 96.65 and covered at 96.42. Looks weak. We'll see what happens. Good luck everyone with your trades. I have some other work to tend to here shortly.
That's kind of what I do too. Look at the chart to get a sense of strength or weakness and then go back to the DOM to see the surges and failures or mini drops and surges. And then enter accordingly.
Nice surge out of the bottom. Missed it. Thanks for posting all the relevant news IV. These are all things to provide some background.
Look at the 1-min, beautiful HL doji, buy the break for a test of the 96.72, then hold until you believe there is too much profit showing on your DOM
I know. Suffered the "missed the trade while posting here" failure. T. Boone on CNBC. He wouldn't pump his position would he?
Yeah I missed the long re-entry, not focusing like I did yesterday (though it would've been b/e because it didn't hit min .40 target - lol). Closing my distractions now before market opens; good trading to all!
I introduced an order to get long .33 with 10 tick stop, but my TWS connection has just gone down on me... We'll see what happens Edit long at .35 stop .23 target 98.90 This suspense is killing me Stop to .31 (while I can) Dark again - hey, either I'm rally ballsy or really stupid for being trading like this! Edit :24 stopped out at .30 - would have moved the stop to be when we touched .50, but didn't have a price feed (95?)
Wishing you all the best. It's a definite drag when you have any technical probs. Damn! Just dipped from 97.48 to 97.15 in about 30 secs. Sure is volatile isn't it? We want to use wider stops, but can't make them too wide. As NoDoji and everyone is saying, this is a different animal right now. Just lost my data again right when the market opened. Reboot. Sheesh!
By the way, good luck/skill to everyone! And my daily question what's your take, Kid? :38 Blind Stop to get short at .94 - <del>10</del> 12 tick stop - 40-tick target