Lybian events on OIL price ---------------------------------- Here is my 'after the fact theory' on OIL price action. gaddafi forces are capturing back some of the areas back from Rebel forces towns Bin Jawad , Ras Lanuf ( part of it). So the monday's price drop based on things are turning too easy for rebels is negated today. - I guess this is one of the major factor for the OIL closing High towards pit session close as oil Bulls has reason not so give up so easily. - the more I look at this , I am concluding that the BIg OIL hedge funds have 'Retired US military officers on their advisory board' who can interpret coming events on the ground battle in Lybia with their vast battle field experience. - if you look at Friday close price ( closing without a weekend risk premium for OIL ) , this may be indication they got from these 'Retired military fund advisers' that coalition air strikes are only a day or two away to take out first ground assault by planes on gaddafi Tanks in Ajadabya paving way for Rebel capture of these towsn. - Here I am NOT stating any illegal insider info. from the war zone. what I am saying is these vast experienced military officers can interpret things and can see what is coming in one to two days . - same thing when OIL reversed the slide from $98 week ago after these Nuclear experts advised them on the Japanese Nuclear issue, there is sudden $4 jump . - By the way it is very common practice to have people from different fields retired Military , government , doctors etc.. part of advisory boards on these big investment funds. ***** and finally think about we are trying to compete with these Hedgies who have best advisors in every filed standing by to advise on hour by hour basis. --------- http://english.aljazeera.net/news/americas/2011/03/201132994454514581.html Gaddafi troops force rebels to retreat Pro-Gaddafi forces retake Bin Jawad, as opposition fighters retreat in the face of renewed counter-offensive. Troops loyal to Libyan leader Muammar Gaddafi have shelled pro-democracy forces heading west on the main coastal highway, pushing them out of Bin Jawad, a small town around 150 kilometres east of Sirte, Gaddafi's hometown. Al Jazeera's Hoda-Abdel Hamid, on the road leading east from Ras Lanuf, reported that explosions had also occured in that town on Tuesday, which opposition fighters had earlier retreated to from Bin Jawad. "So certainly what we can say at this stage is that Bin Jawad is not any more in the hands of the rebels, actually the Gaddafi forces now are managing to pound Ras Lanuf and are getting closer and closer to them, pushing the opposition fighters eastwards more and more. I think this is an exact repeat of what happened about three weeks ago," she said. Pro-Gaddafi forces were mostly using mortars and artillery, as opposed to the tanks and airstrikes of early advances, she said "The Gaddafi guys hit us with Grads (rockets) and they came round our flanks," Ashraf Mohammed, a 28-year-old fighter wearing a bandolier of bullets, told a Reuters reporter at the front.
This looks more like a toe-dipping than a dive in my eye. But I have a good feeling the market will sell off following tomorrows number.
Thank you very much for answering my questions today, my first day here. I am totally tired, and have no position in CL now. My only position for this evening is long cocoa at 3058. Happy times.