Discussion in 'Trading' started by TheCaymanIsland, Dec 31, 2008.

  1. Time to get in??
  2. How do you manage the contango effect? The contract prices for several months from now is about 40% - 50% higher than today's price. Buying at today's price is not very effective, as the rollover to the new contract will cause major gap-ups.

  3. I'm looking for oil entry also...

    Jones247 are you saying that you feel the far contracts are going to loose some of the premium? I'm curious on what your looking for to long?
  4. Humpy


    Jim Rogers expects oil to be $60-$70 soon
  5. What I'm saying is that although today's price is about $40, a July's contract is above $50. So the question is not "do you think oil will be above today's prices in six months?", but "do you think oil be be above $50 in six months?"

  6. Been trading UP all day long since thhe EIA numbers came out . . .

    Feb. Crude +2.97 at $42.00

  7. Walt, yea the June price looks a little expensive now after checking... nice of suppliers to bring the price down some.

    Maybe buy when we get a double bottom or something kinda symmetrical looking.
  8. Well there were a lot of people on this board and on CNBC pumping oil at 30 and under. Where are those folks at now??
  9. Oil is bouncing, I think it will test the 55 range by mid Jan. OPEC is finally complying with their cuts. China and US will resume filling their SPR's very soon at these low prices. It won't be long before inventories dry up.
  10. Those people obviously do NOT TRADE for a living.
    Just like here on ET. No one actually TRADES.

    Gazprom shutting off Nat-Gas to the Ukraine starting Thursday.
    Coal, Oil, NG stocks flying!


    Feb. Crude now $43.70
    #10     Dec 31, 2008