Problem is, Oil market is not going to pop hard like the equities market on Fed move. It will take a little time for Oil to move to the target of 75. If anything it will sell further. We are in a "Depression". Could careless what people say otherwise. We need to shake out the 10% top of unemployment, need to let the chips fall as the worst is yet to come, and the OIL market know this. IMHO, oil will not return to an uptrend for at least 3 to 4 more quarters, if "NOTHING HAPPENS" on the Geo-political front, in the middle east. Build your positions and turn off the monitor. Long term play guys.
is it possible to daytrade a 10 million dollar portfolio or eve na 2 million dollar portfolio. when is the size of the portfolio makes daytrading unfeasible or impractical unless you are a market maker.
Serious question. You said that you've been averaging in since an average price of $84 in crude. Are you using ETF's or something similar to sit on this position without rolling out every expiration?
Unleaded regular is HU. The NYMEX E-Mini Gasoline contract ( which hardly trades ) is QU. http://www.cfsfutures.com/index.cfm?show=10&mid=24&pid=1
You forgot to mention the FACT that Saudi Arabia is #2 ( behind Canada ) in exporting crude oil to the United States, with Mexico at #3, which then pushes Venezuela down to #4. http://www.eia.doe.gov/pub/oil_gas/...ons/company_level_imports/current/import.html Ironically, at current production rates Mexico will run out of oil reserves in about 8 years. They "peaked" back in 2005 and have done absolutely nothing when it comes to developing more reserves and exploring for oil. The 28-year old Cantarell Field ( which is where 60% of Mexico's oil comes from ) began to decline back in early 2007. A very screwed up Legislature in Mexico that continues to suck the life out of PEMEX, with the state-run company paying out over 60% of its revenues in royalties and taxes. Debt is now approaching $55 Billion at PEMEX with lots of antiquated equipment and fields. The collapse in oil prices must be crushing Mexico, BIG TIME!
i dont get if its me whos misunderstood what could be done, or most other traders are idiots... lol Bascially before and still while having traidng as my main career im a business man. So i buy and see pyshical goods and services. If i saw an offer on saying 'Armani jeans, buy them for £20 today only, but from tomorrow we are moving price back up to £30'... I would go and buy them that day for £20. Then would come back the next day and sell them myself at the going price that wuld be £30. if more people heard about this offer for £20 that day, 30 next they would also all rush out and be buying loads, since they knew they could make guaranteed profit the next day. But so in trading, where no matter how fancily you make it look and all charts and stuff you still are just buying and selling barrels of oil. And so there was oil being offered for $36 today, with the price that you can sell at tomorrow being $42. So arent all traders just being complete thickos by not buying thousands of barrels today at £36, and then tomorrow selling all those barrels tomorrow for $42??? :eek: :eek:
I've spread my risk across the board. I do have contracts to roll, i do have some options further out, I am in a few energy funds and buying more shares in the fund in every dip they have, as well as build upon the current positions in those areas. I am getting kick in the balls with my futures, but at the end of the day, its not a huge part of my capitalization. Just so you know, I'm in the Red across the board, nothing in my positions are positive....
If Crude Oil falls to $20, What will happen to Giant American and British Oil companies such as Shell, British Petroleum, Mobil, Exxon. Everybody is talking about Saudi Arabia, Kuwait and other Oil rich countries. But the fact is Giant western Oil companies earn "Lion's share" by Drilling oil in Gulf countries. I think USA and UK will be bigger losers than Saudi Arabia, Kuwait & others because of "crashing oil price".