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Daily Oil Market Summary: 10.18.2010

Tyler Durden's picture




 

Submitted by Cameron Hanover

 

 

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Mon, 10/18/2010 - 19:22 | 659781 bugs_
bugs_'s picture

high school children LOL

Mon, 10/18/2010 - 19:34 | 659808 threefingerscam
threefingerscam's picture

Ten years ago I remember one of my >high school children< flipping me off and shouting F U and laying rubber with his new car (that he paid for at 16 !).

 

Mon, 10/18/2010 - 20:55 | 659996 bugs_
bugs_'s picture

"disaffected youths"

Mon, 10/18/2010 - 19:56 | 659854 morusth
morusth's picture

Everything depends on USD index, which in turn hinges on the FED's liquidity moves.

Despite ongoing POMO and QE2 announcement, all indicators pointed to a reversal of the USD index to the upside. Why not rely on the technicals and discard the FED, because QE2 is already "priced in"?

But, last Friday and today, after the reversal has started off quite convincingly (in Asian and European trading), it was suddenly cut off and turned around. And this occured now twice after having crossed critical resistance levels (of EUR/USD cross).

Because I was finally betting on USD index strenghtening, I have learnt today the hard way, what POMO means and how powerful it is.

Nevertheless, I will rather not trade at all than follow David Tepper's playbook. I leave the rally chasing mode to the machines. To that end, I have invested in a trend following quant fund. It performs like hell (I hope it can get out quickly enough when this USD devaluation complex crashes). Thanks, FED!

In this market, shorting is the expression of human dignity. 

Mon, 10/18/2010 - 20:45 | 659940 francois
francois's picture

In this market, shorting is the expression of human dignity

I would say not playing is the way to preserve dignity. Why provide liquidity to the machine?

Mon, 10/18/2010 - 20:04 | 659858 morusth
morusth's picture

delete

Tue, 10/19/2010 - 08:30 | 660778 snowball777
snowball777's picture

Important lesson from those Frogs about the real way to 'starve the beast'.

Tue, 10/19/2010 - 09:25 | 660915 cycjyf
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Sat, 11/13/2010 - 08:49 | 724555 mark456
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