The Pipeline

This will be my oil & gas journal/blog. I will post news, my opinion, and current position/strategies. My background is as a trader/analyst and I'm currently working at a large energy company in Houston (that will remain nameless).

Jay

 

ICE Announces Plans to Introduce WTI Light Sweet Crude Oil Futures Contract

OTC WTI Bullet Swap to Convert to Futures

http://biz.yahoo.com/prnews/060109/nym118.html?.v=55

A fee waiver on execution will be in place for the ICE WTI Crude futures contract from launch through March 31, 2006. Thereafter, a contract execution fee of $0.70 per side will be in effect.

 

All trades here are for my personal account only (one reason being most can't access otc markets):

Accumulated a half position NGF6 around 9.40 average. Stops around mid eights. Target 12's, will scale out.

 

Looking to buy other half at 9.10. Same stop around 8.40's.

 

Will be posting some data I think anyone following this market should be aware of occasionally.

 

hope you keep your blog going. what type of investor are you; growth, value or active? what do you look at more; technicals or fundamentals? thanks.

 

My trades last anywhere from 3 days to 3 weeks on average.

I would say I'm 70% technical and 30% fundamental.

Thanks for the encouragement.

 

Fill

Bought second half of NGF6 at 9.09.

Average around 9.23.

Stops "around" 8.40.

 

News: US sees Iraqi oil production choked for years

http://www.mg.co.za/articlepage.aspx?area=/breaking_news/breaking_news__business&articleid=260957

 

(I will only post energy related news I find that might be of some interest to this forum)

News: BP Reports Drop in 4Q Oil Production

BP Reports Slight Drop in Fourth-Quarter Oil Production Due to Hurricanes

http://biz.yahoo.com/ap/060111/britain_bp_production.html?.v=4