Oil up almost 8 bucks over the weekend?

Discussion in 'Trading' started by dhpar, Aug 10, 2008.

  1. dhpar


    what the hell is that - I thought everything is closed over the weekend...and the volume looks huge. :confused:

    I would expect oil on monday up due to Caucasus (in fact i was already surprised by the sell-off on friday) - but by that much?

  2. dhpar


    by the way baku-ceyhan seems to be closed already, i.e. 1mio bpd off the market... this is going to be a wild monday.
  3. Just a few desperate oil longs fuck themselves. Monday oil will continue to drop, the news of war breakout failed to pump up oil price on Friday all day tells something.
  4. Gold up over 40. Interesting to see if and by how much ES will drop when market opens.
  5. dhpar


    could you please explain to me where it is trading? I thought markets are closed...

    also there is a ceasefire already - whatever it is going to mean - which should prevent oil to go up much.....
  6. I wish I know the answers to your questions but I don't. I suppose we'll have to wait and see come opening time.

    I'm gonna get nailed though if this is true because I got 4 contracts short on the Yen and if ES drops big, first thing I'll be doing is cover my ass when market opens. The only good thing is I have 700 USO and some short USO puts that will most likely expire worthless come Friday.

    Quite convenient, too, with Gold at the 850-ish support, CL at 115, Euro at 1.50, and ES near 1300 levels.
  7. Georgia has pulled out of the disputed territory. This will be the shortest war since Reagan invaded Grenada. Hedgies will resume their frantic pullout from commodities on Monday.