Nymex Crude upwards and onwards

rollercoaster

hook , last night was crazy.Without the dow plunging we would have closed 77.50 in my view. However this is the second time we have failed to break threw the 78 $ barrier. Wednesdays figure will determine our next push. It s a buyers market at the min though but then this market is like playing roulette.:rolleyes:
 
laptop1 said:
lol...The only tip I can give you is, buy when nobody wants it and sell when everyone wants it..How about this call...The Top of the Housing market will be this summer, My sister in-law told me, "well in around about way". She was talking to me about going to an auction to buy a house to rent out,she said what you think...I said the Top is in, she said how do you know that...I didt like to tell her, when an Hairdresser is thinking of going in to propety and buying at at actions and knowing nothing about houses. This tells me the Top is in. :LOL: .
Click to expand...

I've been telling anyone (note: anyone who has specifically asked my opinion) that the Top is either in or within 3 months of being hit since February. Everyone has laughed at me, including a friend of a friend who insists that their perfectly mediocre flat is worth > +35% over their highest bid (which they rejected). More fool all of them. I was tempted to short UK house prices with IG the other month, but didn't feel like betting on a synthetic market - my spread betting will be confined to hedgeable futures with a proper underlying.

Laptop, great reasoning behind the call. Reminds me of when everyone was trying to buy tech stock, and I said "that's coming off".
 
What a debacle with the lottery figures today. They were released on Reuters early...
Few people getting screwed on that run up. Could it be that this mad afternoon will mark a top? I never try to pick tops as I am particularly bad at it but the markets do have a habit of finding strange events to mark these occassions.
My personal view is that we will continue higher into 90's.
 
this market is all over the place, it hasnt really moved in weeks, lots of intra-day volatility but no movement out of this range.... We need a move above 78 or below 74 (brent) to kick this mofo up the ar5e...
 
Wot U hate Volatility ??

minx said:
this market is all over the place, it hasnt really moved in weeks, lots of intra-day volatility but no movement out of this range.... We need a move above 78 or below 74 (brent) to kick this mofo up the ar5e...
Click to expand...

Minxy - Everything you say is right and maybe I misunderstood you but I love the vol especially when it's as clean as you've outline 400pip swing each-way will do nicely thank you..... Hope I'm on board for the next one-two (upwave followed by smackdown...) If we are unlucky we'll only get the last part :cheesy:
 
I'm position holding oil so the intraday vol isnt really doing anything for me - one day up, one day down. I can imagine it must be fun on an intraday basis though, glad you're enjoying it!!
 
minx said:
I'm position holding oil so the intraday vol isnt really doing anything for me - one day up, one day down. I can imagine it must be fun on an intraday basis though, glad you're enjoying it!!
Click to expand...
Having a ball but maybe you may get your breakout wish as this bounce "feels" weak... hope I'm wrong though - I like the excitement of record oil prices :LOL:
 
Minx...nailed on

Been day trading this and have been stopped out a few times over the past week or so. Got a short out yesterday from 76.15, came out of the short at 75.20 on the way back up and got long. Pretty good day all in all, clawed back some of the losses where my stops have been triggered.

Trading the DAX to my misfortune this morning so missed the move down and the preceding move up.

Tried a long this afternoon, long at 76.36, stopped out at 76.16. Don't ask ! The price never got that low but I was stopped none the less. I would have had a nice profitable trade following my break even morning on the DAX.

Got short this afternoon at 75.82 came out at 40 following the bounce back from the mid 20's

I do concure with Minx however, we really need a break below 74 or above 78 for this market to get going again. At the moment the market is very volatile, not the best for someone like me, day trading with tight stops.

The amount of times my stop has been triggered, only for the price to bounce right back up and put my position in profit....well it has happened so many times if you didn't laugh you would be suicidal !
 
i am considering puting 1 long if it breaks resistance, its below 52 ma dailly, tp arround 74.40 then if i wont be stopped out im gona rollover and go long in another contract, it just seems cheap at this level 70s, sl arround 70.300, anybody here agrees?
 
Good Call

de123 said:
i am considering puting 1 long if it breaks resistance, its below 52 ma dailly, tp arround 74.40 then if i wont be stopped out im gona rollover and go long in another contract, it just seems cheap at this level 70s, sl arround 70.300, anybody here agrees?
Click to expand...

Nymex looking very interesting...using the hs proprietary trading model :)lol: )
We have 7 higher highs on the daily chart... and 6 day streak of higher highs and lows..
I think we know what's around the corner........ :LOL:

Ps De123 Hope you took that trade but if not there's another due probly this week.
 
The party goes on ............

Eight straight higher LOWS (and 7 higher highs and lows in a row.......)
Monday nymex hit 7460

Bring it on..........:cheesy:

Edit: I meant 8 higher lows sorry :eek: :eek:
 
Last edited:
Nearly There ....

Hook Shot said:
Eight straight higher LOWS (and 7 higher highs and lows in a row.......)
Monday nymex hit 7460

Bring it on..........:cheesy:

Edit: I meant 8 higher lows sorry :eek: :eek:
Click to expand...

Messy day as nymex gave us the body swerve with new daily low :)o) before making yet another daily high. Now 8 straight higher daily highs 7525 (oct nymex)..... not far to go now ...

NB inventory day unless they have changed the dates due to holidays
 
Hook Shot said:
Messy day as nymex gave us the body swerve with new daily low :)o) before making yet another daily high. Now 8 straight higher daily highs 7525 (oct nymex)..... not far to go now ...

NB inventory day unless they have changed the dates due to holidays
Click to expand...

Yep, figures due out tomorrow at 3.30pm.

Been buying on solid support in channel all the way up except for it not playing the game yesterday.
 
Cheers Ktf

KTF said:
Yep, figures due out tomorrow at 3.30pm.

Been buying on solid support in channel all the way up except for it not playing the game yesterday.
Click to expand...

You're getting fat playin' the long side whilst I'm famished waiting to go the other way..... :rolleyes:
 
KTF said:
Yep, figures due out tomorrow at 3.30pm.

Been buying on solid support in channel all the way up except for it not playing the game yesterday.
Click to expand...

well looks like higher prices ahead (Iran, Iraq, Venezuela - all in political turmoil, China & India becoming gas guzzlers)...BUT watch for lower high 78 ish level (cont contract) may be tough to crack)...good luck!
 

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