CL Redux

i use limit orders if you have the time to post this you have the time to see my trades/targets were filled.

 

i use limit orders

 

I agree with you, while there certainly could be a knee jerk reaction there is just too much uncertainty right now in the middle east for oil NOT to stay above 100.....

that being said crude inventories coming out 3/9...... if very high could definitely cool the jets (so to speak)

 

I also don't understand WHY you have to bomb facilities on the ground in order to create a no fly zone. Why not just shoot down anything that flies that shouldn't be flying.

 

I think Gates said they wanted to make sure they didn't shoot our guys down too.

 

Interesting pullback to test. Maybe they're anticipating a no-fly zone.

 

$100 oil: Here to stay or soon to go?
Market weighs Libya turmoil, Saudi Arabia cues on output, OPEC

http://www.marketwatch.com/story/100-oil-here-to-stay-or-soon-to-go-2011-03-03?link=kiosk

“Between high global inventory levels and strategic reserves, I doubt anyone is going to go without oil anytime soon,” he said. “However, that doesn’t mean prices won’t go significantly higher.”

There are many other factors to consider, so oil’s climb hasn’t been a completely smooth one.

----
Predicting the direction of the oil markets has always been difficult, and the current uncertain backdrop has made for even trickier terrain.

“Forecasting will prove an exceptionally tricky art in the oil market over the next couple of months,” said Matt Parry, chief economist at KBC Energy Economics.

 

NATO starts 24/7 surveillance of Libya
http://www.cnn.com/2011/WORLD/africa/03/07/libya.military.response/index.html?hpt=T1

<<<
a/ oil dipped 50 ticks to 104.80 seems on this news , indicating stage 1 of some action by NATO , if situation warrents
b/ boy when big traders know gaddafi fall with clear path , we will see good 5 dollars drop at first instant

>>


NATO has launched around-the-clock surveillance flights of Libya as it considers various options for dealing with escalating violence in the war-torn country, America's ambassador to the organization told reporters Monday.

Representatives of key Western powers also highlighted the possibility of establishing a no-fly zone in Libya -- part of growing campaign to break strongman Moammar Gadhafi's grip on power.
British, French and U.S. officials were working on a draft text that includes language on a no-fly zone, diplomatic sources at the United Nations told CNN.

The language in the text will deal with triggers rather than timelines for taking such a step, one diplomat noted. If gross violations of human rights are committed, the diplomat added, the elements of the text could be quickly turned into a resolution.

<< triggers triggers .... , this is what I been bitching about on these posts for last one week , finally they heard me )


Any resolution on military intervention in Libya, however, would be subject to a vote by the 15 members of the U.N. Security Council. Such intervention could face sharp criticism from Russia and China, who rarely approve of such measures.

 

They said something too today, this morning, that the Secretary General's statement on all of this today was worded in such a way that it opened up the possibilities of further intervention. Sorry Gadhafi, you're going down sucker.

 

The daily looks horrible but that weekly TL remains intact. I hope to join you scalpers tomorrow for some instant gratification.