Recent content by Mike2000uk

Unfortunatly for me I didn't! Made a little bit riding the fall but not as much as I should have. I've been considering a long position today but a bit unsure. Noticed further pipeline attacks in nigera didn't slow the decline. Don't really think it will go below 59. Dollar has been weakening...

Contracts roll monthly. The contango won't always be there it's a sign of over supply in the market. It's come a lot over the past few months. It can also go into backwardation where the far prices are less than the current month. Although I'm not sure if this would mean you would gain from the...

There are a couple of reasons for this. As martinghoul says the contango ( price difference between different months futures contracts) causes the ETC to lose value during the contract roll over. I think the difference was roughly 50c this time. Which is much better than previous months. Also...

Maybe geopolitical events in Nigeria and Iran could give some support next week. I think inventories need to continue falling for these levels to be sustained. I can't see more than £75 in the next couple of months unless something big happens in the middle east or Africa.

The crude spread with IG is large sometimes. Im always very wary with stops around big numbers like 50.

LOIL is a leveraged crude ETF traded on LSE. Tracks the dow jones AIG crude index. Looks good for long term investment. Only bad thing is contango spoils its returns. Also its traded in US$ so got the exchange rate to factor in.

well, no ECB quantative easing, a measly .25 cut, stronger euro, doller weakens. Crude surges! What a difference a day makes. Im regretting that short position now

I dont think it will do too much, unless it really lifts the equity markets. Crude seems to following the optimsim in the markets a lot during the recent rally and even ignoring worsening fundementals. Im dithering about whether to short again before tomorrows ECB meeting. Dont have enough...

I was short Brent Monday at 51.08. Bottled it after it bounced off 48.00 and closed at 49.20 but made a half decent profit. I was hoping the Euro would be weakening before Thursday, as the ECB should be cutting rates or quantative easing, thus strenthening the dollar and putting downward...

If your using rolling contracts with a sb firstly make sure that you have instucted them to roll or they will just be closed out at expiration. When they roll your profits or losses will be debited or credited to your account, then a new position will be opened in the new contract with the same...