Ya Think? LOL Been there Done that. The board has gotten so bad a lot of the original ones are still communicating just not here. GL2ALL the decent, Real Traders Mike
Oil and Gold are up today because the dollar is down billy. NG seems to be trading in this channel in a narrow range.
Billy had it correct. These moves on option expiration day are usually just short term, used to make a lot of money. $15.00 UNG puts have probably doubled or even more since the open this morning. Oil and NG have made this exact move the last three times on the day their options expired. GL2ALL
We have been in the 60-70 all month. I didn't think it would be that little of a draw but what about next week? We could see another weak number
I used yesterdays move to go back short oil since we are still a couple of months before driving season starts but if you look at the futures contracts the price just keeps going up on the later months. This tells me that the market sees a rise in prices at some point before these contracts come due. GL2ALL
Billy I am back to trading futures and oil is trading over &8.00=10.00/ barrel higher on the fall quarter contracts. That is why all these traders are buying all they can get at these levels. I have said from the beginning that we would get to a mean average of $40.00 and i am going to stick with it.. The dollar is the wild card that is hard to predict how high it will go. GL2ALL
It worth what ever they are willing to pay for it. GDP rebounded after they last oil sell off better than most. I think someone must know something that is coming up. Maybe they are merge with another company. GL2ALL
Gartman was talking about two dollar NG back in Dec when oil started down. Over the years he has always been the most accurate of all the talking heads. Gl2ALL
I just bought it and put it away and am not worried about the "Big Selloff" of .05 cents. since in a year from now? It will be up a lot more and that is all i am worried about not nickels and Dimes; Thats for kids GL2ALL
If your a short term trader and need the money to do something else ok but if you want a position that can continue up than GDP is as good or better than most in this market cap. The last time oil was down this stock was one of the best performers and that is why i bought it. It doubled in one month on the last rebound. GL2ALL
I have so many blocked that i get large blank spaces some days, It still beats the alternative GL2ALL
What i am looking for next is the US to drop it's ban on exporting oil to other countries. It has been on the books since the Nixon ministration so it is so outdated and the reasons for it originally have changed dramatically. We are now in a position that we should be shipping our oil and NG to all these countries that are our allies so our economy could benefit from our surplus instead of glutting our own markets to the point where we are laying off people in a time when we need those jobs filled. It would be a win win situation that would put us back in control of this market instead of the Saudi's GL2ALL
U.S.A. has decided to add 5 million barrels of oil to its Strategic Petroleum Reserve (SPR), as the price of oil hits five years low. It was reported that, U.S. is planning to buy even more oil on the top of its 691 barrel of reserve oil as the price is plummeting.
Energy experts are saying that U.S. is trying to get 5 million barrels to its reserve worth about $224 million. According to market report, they are lobbying to get the deal done at the closing price on Friday, 13th March of $44.84 on NYMEX.
In a statement on their website, U.S. Department of Energy said, between 1st, June and 31st, July they are planning to buy sweet crude oil for their Freeport in Texas. They are also planning to make the purchase as early as May. They will need the approval of congress for the buy.
According to the market report the drop in oil prices came after the report from the International Energy Agency, which says the tank firms in U.S. might “soon test storage capacity limits”. In a statement the agency said, “Overflowing storage would inevitably lead to renewed price weakness”. According to energy market oil production still on the rise in U.S.A.
Coming from someone who 90% of all their post consist of "You Think" That's kinda funny besides i have been trading it longer than ten years and don't need to look back.
The wise speak when they have something to say
The fool speaks when they have to say something