Buy Crude - Hurrican Sandy?

[irishneil]

What you recon, a good time to buy crude with hurricane sandy kicking about?

 

[wackypete2]

Not sure. It won't be hitting the offshore oil rigs in the gulf so capacity may not be affected much. Many of the refinaries in the Philadelphia region have already been shuttered for unrelated reasons. The east coast, including myself, will be evacuating Sunday morning.

Peter

 

[rsh01]

increased traffic driving away though

good for the economy. create bad weather, like global warming. yeh.

seriously though, these troubled times will blow over.

 

[wackypete2]

increased traffic driving away though

good for the economy. create bad weather, like global warming. yeh.

seriously though, these troubled times will blow over.

Thanks for that reminder
I have a headache now.

Peter

 

[wackypete2]

increased traffic driving away though

good for the economy. create bad weather, like global warming. yeh.

seriously though, these troubled times will blow over.

Haha, I just caught wind of that one . I'm a bit slow tonight.

Peter

 

[rsh01]

Haha, I just caught wind of that one . I'm a bit slow tonight.

Peter

apols again, i-so-bar (is that bad or good, i dont know) people like you from my pub, this time i will let you precipitate whatever clouded nonsense you have to spout.

 

[irishneil]

Was thinking about getting in on monday when markets open and out in 2 or 3 days. Its bound to be hot on the news this week, theres bound to be a few speculative buyers?

 

[rsh01]

Yeh just like irene drove the price to the moon. Do you reckon anyone else knows about it?

 

[rsh01]

This sums it up quite well, a few broken windows shld bump up q4 gdp...
Hurricane Sandy Update | ZeroHedge

 

[irishneil]

im buying when markets open. Worth a punt

 

[bid_diddler]

Was thinking about getting in on monday when markets open and out in 2 or 3 days. Its bound to be hot on the news this week, theres bound to be a few speculative buyers?

I think you mean sunday evening when the markets open (crude light futures).

 

[irishneil]

Btw, the only option to trade crude is a futures contract for december the 12th. Im aware that oil reserves are high due to a high amount in us inventories. Think I cud scalp a dollar or two this week due to sandy?

 

[irishneil]

yea i do bid. this would be my first crude trade.

 

[rsh01]

Think I cud scalp a dollar or two this week due to sandy?

is an option on a future the best instrument to scalp? i dont scalp CL, and i do not trade it off of fundamentals so cannot really help. wld just be careful as its not exactly new news, and the impact the weather can/will have will be known by many more ppl well before you know (thats an assumption that you are not working in the energy industry).

i only really trade it during the pit open times (and short while before).

g/l.

 

[dan1986ccfc]

I'd stay away if I were you.
From a technical stance its definitely not a buy in my book.
As has been pointed out its not exactly new news so the news has probably been factored into the price already.

 

[dan1986ccfc]

Unless of course it is just a punt and your prepared to lose the money. Then gamble away and enjoy the ride

 

[rsh01]

SINGAPORE, Oct 29 (Reuters) – U.S. crude futures slipped below $86 a barrel on Monday as refineries along the East Coast lowered run rates ahead of approaching Hurricane Sandy, reducing crude use in the world's largest oil consumer.

Bearish flag on the daily also.

 

[irishneil]

Just got out with a small loss.

Essentially the shut down in refineries will increase crude supply and drop price.

Pretty obvious.

 

[$$$$]

Seriously, you heard about a storm shutting down refineries and thought it would be a good time to BUY crude????

 

[irishneil]

lol.....yea....