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And in 3...2...1... "oil is stabilizing"... this is it...
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Bullish for consumers, producers, governments, stocks & bonds!
Demand must be changing on a minute by minute basis. I mean Crude is a supply / demand driven commodity. Computer algo's surely would not be responsible for this.
Totally demand driven. Agree. People are just changing their minds all the time - hence the wild moves
/s
Guys, how are banks supposed to make any money on this if they can't whip the price up and down 5% at will. Have a heart. Can't you see how important this is to others, or do you only care about yourself?
Yes, there is no skim if there is no velocity or volatility.
Didn't last long. Back down nearly 10% to $48.45 but of course this just gives room for another surge and opportunity to declare the collapse over AGAIN!!
http://www.oil-price.net/
"Back down nearly 10% to $48.45 ..." - Doubleguns
I believe that price of $48.45 is the closing price from the previous trading session.
WTI was trading at ~$51.40 as of this post:
http://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude.html
Well DAMN!!! I was really enjoying filling up gas FULL with low price. When it reaches $2.50, I will gas in HALF like few months ago.
Just a guess, but could oil price increase have anything to do with a falling dollar?
John Law, its back up. Talk about a roller coaster ride.
i told you month ago, usa cannot afford that long to pressurize down prices, opec can go far lower for more long time, to prevent shale oil to collapse they will start to get price up.
and when all is done and price back on average price of 100$ they will make a push to 150 to get back lost money in the september-january period.
you will see...
this was so previsible... that it is ridiculous. all shepps in tv " yhaaa cheap oil ho yeyyy "
- fucktard, wait 6 months... we'll talk...*
*( ® myself, september 2014 )
I wrote yesterday that there is a base forming and had also bought it, to the amusement of 11 downmarkers - Well fuck you all now :)
ditto spreads. I started nimbly oild related stocks last week and got mant downs also.
Gotta know the rules of the Game. But more importantly you gotta know who makes those rules.
Wall Street boys taking the muppets for a ride! Ride into skid row.
it's a profitable ride Vamp, who gives a toss about the news. You're obviously not a trader, just an opinion maker
I notice some long term, idle accounts have suddenly been chirpy.
I sometimes wonder if they have been jacked to some use, not origionally intended.
"Once you're out of the oil business....you become an oil trader!"
Tis true...winter is in fact here. "Lotta stored energy up my way" if you know what I mean.
oil up = economy is sound
oil down = tax cut
Oil up = printing
oil down=not printing
Oil to a dollar a barrel...global humanity happiness day!
I'm purely chart biased Party party - higher high and a higher low, plus RSI failure swing - Precise stop loss for good measure...
UK- I said the same thing last week, not calling the bottom but remarking that I think we already put in the lows for the year. I got bombed out of the room too. It happens. Hard to stand by an unpopular call.
Agreed Nodebt, It was the same story with Gold...
Markets either trend or go sideways and there's money to be made in both scenarios- After all, we're all here to make money right?
Down tick here people if that's not you
I agree you have a short term trend going, but how do you know it's a fundamental move vs just short covering or a sucker's rally before diving lower?
How tight are you keeping your stops?
Seems to me looking at the big picture the US has not punished Russia enough via lower oil prices and the US election is still a ways away so there should be more pressure to the downside coming following that logic.
Yea yea, bah blah blah..this rise is cause of this squeeze and your stops are being triggered on purpose cause the whole thing is one BIG scam and US is gonna hurt Russia moar and moar, bla bla. Honestly man theres no one on the planet that knows which way Oil is heading for any length of time! Even all these talking heads think the bottom has been set after a mere sniffle of a few bucks more on crude! BTFD..My guess is as good as anyone. Maybe I should follow and heed Cramers advice(lol) he said Crude will see $40, but he has since not repeated that doozy!
BTW Tyler you gotta do something about these ads, I gotta watch every letter I typ! LOL
LMAO. Look at all those sarcastic cynical posts.
Yep, you can easily spot the ones not making any money !!!
How could a commodity that is used by every country in the world form a base and not go down forever? :)
How is it that manipulation schemes unwind themselves with a clusterfuck? Just within a few hours, the Ukrainian currency gets floated and devauled by 35% and now oil surges 5%. Way to go.
You can't make this stuff up. They do it for us.
I just translated the cover of their book. It's called "To Serve Man". I really think that's sweet of them, to have our interests so deep in their hearts that they want to serve us ...
Awesome reference, brooklynlou.
"It's a COOKBOOK!!!!"
seriously folks... high gas prices are good for the u.s. economy... combined with low wage jobs it is a Win Win!!
these are the final days.......before all the bubbles pop. is it just days away? maybe a week or 2.....
It can't be much longer. I've been wrong so many times but it is really getting more crazy by the hour, so I would be surprised not to see a MASSIVE CRASH until Feb 28.
ya.....this is just taking TOO frakkin long!
Just a hiatus in the collapse...
coz oil is use as a wepon
all winter low price and no bottom in
A lot of folks are about to jump into a meat grinder. Good luck guys.
Forlorn Hope.
Absolute desperation to keep the stock indices up.
DavidC
Meh.
Could be toppy behavior. "Free energy" never hurt an economy...in the long run.
Oil at ten cents a barrel did not get the USA out of the depression...and neither will this oil collapse either.
Falling all the way up!
If you like your low gas prices, you can keep... Oh to hell with it.
But the the oil price is primarily demand driven! (or not)
Look at the import data, the drop below $75 was all done courtesy of KSA and the gulf states dumping oil on our markets. Even the new Saudi King is worried about the stupidity of the policy as he just gave out $29B to show it doesn't hurt but that had to hurt. They can't keep dumping oil and giving out largesse. My expectation is oil back to $60 fairly soon if it can hold over $50, then we see what's next.
Spot crude oil chopped for 12 weeks during late-2008/early-2009 between 32.50-50.00 before the final reversal took place.
I would not touch crude oil here above 50.00. Let is press back toward the 43.83 low and then test the waters.
What business do you have trading oil? Do you own a refinery?
That is the entire problem and why we have no true price discovery. Since the commodity futures modernization act we have had thousands of people who have no business trading oil, trading oil.
Oh I get it. You want to make a profit flipping contracts for doing absolutely nothing constructive.
The daily bullshit needs to stop, where's the margin hikes, the forced delivery, anything that can stop this.
>>What business do you have trading oil? Do you own a refinery?
Thats not how free markets work, my friend. The same could be said about Apple or anything else.
Once you bend over to pick up that sword in the sand, its Gladiator time. If you are good, you get paid.
And yeah, I know all about that high frequency, front running, insider info garbage.
I think if you are running a daily trade book, yeah, thats gonna squash you. If you are looking at fundamentals (I know I know) and have a longer time horizon you can take advantage of it.
The big trading houses dont scare me (theoretically they are not supposed to be into Prop) and the hedgies mostly cant find their ass with both hands (Gartman anyone?)
So yeah, I use oil just like the next guy....you do too. Bring on the trading.
Oil is no longer a commodity.Now,it is officially a non-discretionary moving expense..
Hallejeebus!!!
The oil collapse is dead. Long live the oil collapse!
No Manipulation here, move along, move along
Dollars are worthless paper promises. Why would you trade a valuable commodity like a barrel of oil for less of them? If you really beleive fiat paper is going down then oil and other commodities must go up in terms of dollars.
burn it down
This smells like a bottom.
OK, so now 'stabilized' means taking one step up for every two steps down.
TPTB gotta make money somehow as they dont appear to be smart enough to do it via ZIRP. Think about that for a minute!
$35/bbl bitches. Get used to it.
BUY MOAR OYL YELLEN!!!!!! HOW'S THE BALANCE SHEET GOING YELLEN??
DOES YOUR 4.2T BALANCE SHEET REALLY MEAN 10T?
Crushing shorts has been the mantra of Wall Street for the last year. Oil is one of the things that has fools thnking it will drop to $30, and fools thinking it will go back to $80. This means that there is plent of money on both sides of that trade -- and whenever money places its bet in a casino market, the algorithms will ride it up and down to squeeze the shorts and take out any stops. Algorithms do not care about the price of oil -- they care about how many fools are on one side of the trade, how cheap they can get in on the other side of that trade, and how fast they can flip the trade in their favor.
Given the volatility of crude prices, how can anyone be expected to prepare an accurate budget for any company that is significantly impacted by the price of crude/gasoline etc. re. revenue or expenses. Might as well throw darts at a dartboard than accurately predict where crude/gasoline prices might be from quarter to quarter.
FUBAR.
So, on average, oil is neither cheap nor expensive. Producers sell on expensive days, consumers buy on cheap days, everyone is happy.</sarc>