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United States Oil ETF Message Board

  • golfrattt54 golfrattt54 Jul 10, 2013 5:15 PM Flag

    The Bernack just gave a green light for assets to pop, including Oil

    Absolute open-ended agreement to stay accommodative as required to support a slowing economy (which it will continue to do)

    S&P futes already up 6 points, Oil will go with it once it bases in here..

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    • Unfortunately, the futures guys never leave anything for the equity guys like myself so i get nothing out of last nites pop, what else is new...

    • Oil is too high
      House prices are too high
      The stock market is too high

      Anybody buying any of these is being set up to lose their money imo. A 20% collapse in all three would certainly make these markets alot more interesting. In a day, in a week, or in a month, just take these things DOWN.

    • But oil is already up. Egypt's troubles have not spread across the middle east so that will not longer drive oil. So we are back to fundamentals, which is summer driving demand, and the drawdown of cheap june oil is done. For any real upward pricing to be sustained beyond july contract expiration there needs to be strong drawdowns in crude stocks driven by retail gas demand.

      • 2 Replies to tradzallday
      • "the drawdown of cheap june oil is done"
        That's not what some traders arte thinking...

        West Texas Intermediate crude surged
        to a 15-month high after U.S. stockpiles tumbled for a second
        week. WTI’s discount to Brent narrowed to less than $2 for the
        first time since December 2010.
        Oil advanced 2.9 percent after the Energy Information
        Administration said supplies fell 9.87 million barrels, three
        times as much as projected in a Bloomberg survey. WTI has moved
        into backwardation, with futures closest to expiration more
        expensive than those for later delivery. The gain accelerated as
        minutes from a Federal Reserve meeting showed many officials
        want employment to pick up before slowing stimulus.
        “There’s no incentive to hold supplies with the market in
        backwardation,” said Chip Hodge, who oversees a $9 billion
        natural-resource bond portfolio as senior managing director at
        Manulife Asset Management in Boston. “You are seeing big drops
        in inventories and that should continue.”
        WTI crude for August delivery climbed $2.99 to $106.52 a
        barrel on the New York Mercantile Exchange, the highest
        settlement since March 27, 2012. The volume of all futures
        traded was double the 100-day average at 3:44 p.m. The August
        contract was 90 cents more expensive than the September one, the
        steepest premium since October 2008.
        Brent oil for August settlement increased 70 cents, or 0.6
        percent, to end the session at $108.51 a barrel on the London-
        based ICE Futures Europe exchange. The volume for all contracts
        was 35 percent above the 100-day average.

      • Well, to my point, it quickly popped to just shy of 107, retracing as is typical now..

        I know that oil doesn't always, if ever, ride with the indexes, but liquidity certainly doesn't hurt stocks or assets that are in pronounced uptrend..

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