Like i said this morning, USO will hit a new low and it did, but Mondays and Tuesday are usually bullish unless China starts tanking. Just think 3 to 4 more weeks before the oil crash. Gold miners are a fireside sale, just picked up some AUY, with all the Diesel miners need to run that heavy equipment,with low oil prices this will help out the miners also, good luck
and today USO might hit a new low, only 20 cents to go to break a new low
Silver is down 70% from its high and mines have closed down, creating a shortage in silver, i which i could find that article for you guys, as i read about it over a week ago. Gold is tanking much harder then silver, silver is barely down, look at SLV, also they have a much higher price target for silver in 5 years compared to gold, a 200% plus increase in 5 years is expected for silver.
Wait till oil crashes, China bubble brust is coming, oil will be in the 30`s
its a great stock, i bought it a few times, i guess since i live 30 minutes away from us steel and family works there is why i buy it, good luck
Cheaper oil benefits them, and if they hedge gold at 1200.00 then that is another plus but we wont know until tomorrow
You shorted DUST on July 16th, it was 23.65 and today its 35.17 , so to short DUST you were under the assumption miners were going up, you had to think that to short DUST to make money, you lost a bundle, now you want to short NUGT when a reversal is coming in, how much lower do you think charts go before it reverses?..........
need_pr • Jul 16, 2015 11:22 AM
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Selling short DUST here - going down 10% very soon
hedge fund buddies are buying the miners today - reversal coming
Sentiment: Strong Sell
Hello Trader, i wouldn't worry about what others say on this board, we all read charts and calculate movement differently. MFI is at its lowest in 5 years, we are just above the bottom of the BB, and gold miners have dropped 3 times harder then gold has, its definitely a good play but takes time, to many day traders, a 3x ETF can be held for a breakout even if its a month from now.
Hello Reaper, the oil play is a little different this year. Example if you are looking at lows and highs then we should keep an eye on the oil and gasoline disconnect, the spread is to big, using just USO and UGA, its no different then when we dealt with the huge spread between Brent crude and WTI, either oil goes up higher or gasoline drops more, look at both USO and UGA and let me know what you think of the spread that were created when both hit their lows? thanks
The American Petroleum Institute late Tuesday reported that crude supplies fell by 1.9 million barrels for the week ended July 24, according to sources. Analysts surveyed by Platts forecast a 700,000-barrel decline. September crude CLU5, +0.70% was at $47.77 a barrel on Globex, down from the $47.98 settlement. The more closely watched Energy Information Administration report is due Wednesday.
Treasury investors aren’t sweating Janet Yellen’s Fed meeting. As the Federal Open Market Committee’s policy huddle is set to conclude Wednesday with a statement but no news conference, few traders are expecting big market-moving surprises on interest rates.
Investors are pricing in a zero probability of a rate hike in July, according to the CME Group FedWatch tool that tracks Fed funds futures prices, and Treasury bets are split between a September and December hike.
According to Bank of America report released Monday, markets are currently pricing in around a 50% probability that the first rate hike will happen by September, while the bank’s own forecast sees a close call between September and December, as the B.of A. chart below illustrates.
China market is collapsing, just look at YANG, Russia market crashing just look at RUSS, and the good old USA will not depend on middle east oil so they will continue to add rigs, i say 7 more rigs will be added this week. Then Russia pumped in 14 billion in Venezuela to help double the output of their oil and your saying the demand will go up? My bet is you haven't seen oil tank yet, don't get me wrong you will get some up days but when they decide to tank oil it will be hard ,,,,,,, By Dimitra DeFotis
Russia’s state-controlled oil giant Rosneft and Venezuelan leaders agreed to $14 billion in investments to help Venezuela double crude production.
Reuters reports that President Nicolas Maduro met Rosneft chief executive Igor Sechin Wednesday, as well as the president of Venezuela’s state oil company PDVSA, Eulogio del Pino, and National Assembly leader Diosdado Cabello. Reuters quotes Maduro:
You said i would never see USO at 18 a share and i told you back then it would bust through it, you have roughly 3 weeks at this level before the crash, summer driving season will be over and they will continue to add rigs, but good luck as i will wait for oil to go in the 30 a barrel range.
Wait till end of August and gt in when oil crashes to the high 30 a barrel range, we just have to much oil.
O by the way when want you lie you need to take down your old post including this one, i catch Zach doing all the time and when i prove it by another one of his posts he deletes them all.
You took a short position at 12 pm at 3.43 and right after you took it, it shot up to 3.81, you loss big time, here`s your post,,,,
goldnogood • 10 hours ago
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I just opened a 5000 shares short position on CDE at $3..43
wish me luck guys,, I'm betting its going down 15% every day.
WASHINGTON (Reuters) - Staff economists at the Federal Reserve see a quarter-point U.S. interest rate increase this year, according to forecasts the Fed mistakenly published on its website in a gaffe that drew criticism about its ability to keep secrets.
The rate forecast was included with a series of bearish projections on U.S. economic growth and inflation that were presented to policymakers at their June 16-17 meeting.
The disclosure of the sensitive information is the latest blow to Fed's reputation for secrecy around policy deliberations.
Federal prosecutors are currently probing an alleged leak at the Fed of market-sensitive information to a private financial newsletter in 2012.
"It regrettably appears once again that proper internal controls are not in place to safeguard confidential Federal Reserve information," said Representative Jeb Hensarling of Texas, a Republican who chairs the House Financial Service Committee and is pressing Fed Chair Janet Yellen for documents regarding the 2012 leak.
The Fed said in a statement that the forecasts were "inadvertently" included in a computer file posted to its website on June 29.
Hello sdowney, good to see you, and i agree its in a bear market that is just beginning. Iran has 42 loaded ships of oil ready to be sold. The market has been dropping but oil tankers keep going higher. With an ocean being used as a floating storage and oil prices dropping, that oil has to come on land storage as the Arabs, and Russia keep pumping as much oil as they can and will take lower prices to fill up more ships. I still say oil gets in the 30 range like 2009 but this is different we have a glut of oil compared to the 2009 prices
I am waiting for the oil crash, which should happen at the end of summer driving seasons, looking for oil to hit the high 30 dollar a barrel range. You should have some up days in oil buy overall it should crash by August