Fred, as you know, Sept-Oct is most volatile
for crude.....Oct maintenance season could
be a time for opportunity.
Crude should rally going to New Year.
I don't know much about the Fed, but heard they'll
up in Sept & Dec.
Right now, I'm looking at gold & XLE for guidance.
Also china. Too early to open long term positions.
In a down market like this, the best way to make money going long
is by daytrading.
Just my 2 cents.
I agree with you...the trend down is very strong right now.
Don't see it improving in coming months.
Either production goes down or demand rises.
Can't depend demand to rise & $50 can become
Sentiment: Strong Sell
Because it takes time to reach market....something like
H2-2016. Won't come all at once.
But, crude will slowly decay to find bottom.
After 7-04, crude hardly rises without war/hurricane.
But the problem is it's going to need
more money & the EURO took a hit.
EURUSD down 92 pips right now.
The problem is CL futures is dropping like a rock from
$53 to $51.45 as of 2am NYT....I saw an article on Reuters
a deal is almost made.
I do think a deal will be made by Monday evening.
I think there will be an agreement perhaps today or
in the near future.
Also, even without agreement, I seriously doubt
crude will rise after summer peak driving season.
Maintenance & correction coming in Sept-Oct.
chinese spew a lot of trash on the net...just like lisa huang
on this board.....said crude is going $100+ in the future?
I wonder where she went.
Suspected a long time ago. Hopeless country.
Concerning crude, prices will decay going into Dec-2015.
I doubt they'll recover until the refinery maintenance in
I'll stick to daytrading until weekly chart recovers or go short
if it bounces up.
All articles are barbage. They just add volatility & confuse
I concentrate on short term turning points only.
I agree with you. The public pension is the biggest problem in Greece. Also, some US cities went broke for the same reason....It is a lot of political in nature.
Since 2010, EU tried moving Greece debt from private to public institions. Nothing has changed about that country.
Time is up & they must pay their bills or go broke.