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The CL Crude-analysis Thread
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The CL Crude-analysis Thread

  #1521 (permalink)
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As I mentioned a few posts back - volatility, Greece (/CL) etc.

Iraq does not seem to be on board with the freeze thing and now we have this

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Party on Garth

-William

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  #1522 (permalink)
Market Wizard
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All this talk of a freeze in oil production means that the world will continue to overproduce oil, adding to the inventories.

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  #1523 (permalink)
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Baker Hughers Rig Count drops another 26 to 413


Baker Hughes rig count, February 19 - Business Insider


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  #1524 (permalink)
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IEA

International Energy Agency annual Medium-Term Oil Market Report

Various tidbits of info in the report

February: Global oil supply growth plunging, with US taking biggest hit for now

-William

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  #1525 (permalink)
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Ughhhhh, my head is about to pop - I guess it really does not matter, trade the tape, just the tape ma"am

Last week we had output deal, no output deal

Today we have Bloomberg Business saying "Will last week's output deal send oil prices soaring?"

Of course that was followed by "Don't bet on it"

Wowzers

-William

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  #1526 (permalink)
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I can give you tomorrow headline if you want:

Market expectations of oil price uncertainty have increase....



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  #1527 (permalink)
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Crude Oil bottom

WTI Crude Oil has not seen it's 2016 low as of this date imho. That said, WTI is likely to out-perform the S&P500 over the next 18 to 36 months. Below $25 is more than likely a good area to begin long-term accumulation of oil. I am a seller of less than 30 days out puts below $25

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  #1528 (permalink)
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JP Morgan said they have minimal exposure to the oil sector in the US

Today at investor conference they said they have ten's of billions of exposure and have taken up their reserves

Earnings report/ conference call was JAN 14 2016

And what has significantly changed since then?

Something tells me they are not the only ones lying (earnings)

2008

-William


Last edited by WilleeMac; February 23rd, 2016 at 04:29 PM. Reason: clarity/ spelling
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  #1529 (permalink)
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oil value

It seems the market in general is priced at what the masses are willing to sell/buy at on any given day. Oil will be no different regardless of physical supply. Since the price of is publicly traded, it's more subject to fluctuations of buyers and sellers not stockpiles. So the real question is, Are legitimate buyers stepping in yet? Looking at the volume and price action over the past 2 months alone, I'd say we are very very close to a bottom, and at worst a mini bounce.

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  #1530 (permalink)
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I am just amazed how Equities are following Crude Oil, specially during RTH. If you know how to trade CL, you got the key to Indices and Bonds.
I wish I knew how lol. For now I am just following my good old system on ES.

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