more importantly, natural gas futures hit highs before coming back in, probably sell the news situation on the weather forcast. crude oil is still bearish, and distillates/heating oil isn't as bullish as most of north american heating is done with natural gas. also, distillates has a diesel component. imo, there is no doubt nat gas will retest and make new highs before the winter's done. http://www.futuresource.com/charts/charts.jsp?s=NGF06&o=&a=D&z=610x300&d=MEDIUM&b=CANDLE&st=
Hook ... Doesn't January typically offer rising prices in preparation of an increase in gasoline demand?
cRUDE is still trying to get it going. But the volatile up and down days keep holding it back. Still seeing a sideways trend with a downward bias.
Seasonal strength, counter trend rally? The strength in stocks is telling me cRUDE will not be a concern. http://spaces.msn.com/members/caldaroEW/
Time to sell Crude? Anyone know how to interpret the COT? This is with options included. CRUDE OIL, LIGHT SWEET - NEW YORK MERCANTILE EXCHANGE Code-067651 OPTION AND FUTURES COMBINED POSITIONS AS OF 01/10/06 | --------------------------------------------------------------| NONREPORTABLE NON-COMMERCIAL | COMMERCIAL | TOTAL | POSITIONS --------------------------|-----------------|-----------------|----------------- Long | Short |Spreads | Long | Short | Long | Short | Long | Short -------------------------------------------------------------------------------- (CONTRACTS OF 1,000 BARRELS) OPEN INTEREST: 1,492,595 COMMITMENTS 154,705 92,572 424,577 835,421 892,160 1414703 1409309 77,892 83,286 CHANGES FROM 01/03/06 (CHANGE IN OPEN INTEREST: 50,510) 10,618 2,795 21,711 8,184 27,254 40,512 51,760 9,997 -1,251 PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER 10.4 6.2 28.4 56.0 59.8 94.8 94.4 5.2 5.6 NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS: 302) 89 106 146 83 91 256 269