screaming buy on rbob

Discussion in 'Commodity Futures' started by scriabinop23, Apr 16, 2007.

  1. buy while you can. some big guys unloaded some long crack spreads. [which appears to explain front month crude and gasoline's behavior]

    Here we go to 2.25 May !
  2. Hope you didn't take your own advice.

  3. I did.. and bought more... :(

    tommorow will be an interesting day for me.
  4. The gasoline will peak earlier this year and all the gasoline and refiner longs will crash and burn.

    Big boys are playing the lemming game.
  5. you really think ? demand is up y/y, inventories are down, production is lower, etc. etc.

    I say RBOB peaks 2.30-2.50 this summer easy, adding in political and 'hurricane' premiums.

    on the other hand, i do think the crack spread comes down, mainly because price of oil is going up as well.
  6. I guess it was a screaming buy at 1.9850. We'll see how this goes.
  7. It'll be a screaming buy at 1.91 soon enough :D
  8. Never heard of this contract before.

    What is 1 tick on 1 contract worth?
  9. Not sure about RBOB but RB is ->

    It's Gas. 1 tick (.0001) is $4.20

    It has a multiplier of 42000 (every dollar move up or down is $42000) :D Very volatile high leverage kinda play.

  10. RB = RBOB

    not a bad day for the bulls.
    #10     Apr 18, 2007