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

  #2001 (permalink)
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Does this mean now I can put the entire exchange traded 6 month flies and trade it just like any other instrument? And what happens if I adjust one of the calendars? Or even just 1 contract?


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  #2002 (permalink)
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Oil CL / WTI Reaching Target #3$49.73

Let's see if it holds or breaks up. Time will tell.

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  #2003 (permalink)
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Oil Targets Reached /CL WTI



TransAlp1989 View Post
Almost there.
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Oil /CL is now at target #3 and showing signs of holding. For now, I have I will wait for next week for direction.

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  #2004 (permalink)
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jokertrader View Post
Can you please give an example of how implication in the 6 month flies are beneficial to a trader compared to today - thanks

I think this will benefit the fly trader more than the spread trader. Currently implication is switched off so the only way you can trade a fly is if somebody else has an order to do the opposite. Once implication is switched on, the butterfly markets will be populated by the globex matching engine. So right now z7/m8 and m8/z8 are both 1 tick wide, so once implication is switched on I would expect the the z7/m8/z8 fly to be tradable, on screen, with a bid/ask of 2 ticks. (This spread is currently 4 ticks wide, which I assume is a market maker charging you a tick for the pleasure of having him leg the fly for you!).

For what it's worth globex currently lists the following 6 month flies :- z7/m8/z8. m8/z8/m9. z8/m9/z9
I am hoping they will also add m9/z9/m0 and the 12 month fly z7/z8/z9

The other place this may help traders is for somebody trying to buy or sell M8 or M9. With already liquid markets in z7/z8 and z8/z9 the addition of the 6 month fly implocation should add liquidity to the M contracts.


jokertrader View Post
Does this mean now I can put the entire exchange traded 6 month flies and trade it just like any other instrument?

Yes

jokertrader View Post
And what happens if I adjust one of the calendars? Or even just 1 contract?

Sorry i don't understand the question.

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  #2005 (permalink)
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Reuters/Kemp :- Physical oil market tightens as refiners scramble for crude

COLUMN-Physical oil market tightens as refiners scramble for crude: Kemp | Reuters

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  #2006 (permalink)
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Oil /CL WTI Weekend Review

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  #2007 (permalink)
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Oil /CL WTI Weekend Review Sunday Update

This is probably a more accurate review.
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  #2008 (permalink)
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Testing my trading plan - Album /CL WIT Crude Oil

I have uploaded several images (as much as the system allowed me) of my trades paper and many live as well of my performance as I continue to adjust and calibrate my entries for CL

https://futures.io/members/93627-albums276.html

Hopefully, it will provide some insight.

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  #2009 (permalink)
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WSJ :- OPEC Has a Crippling Problem: Its Members Canít Stop Pumping

Behind paywall unfortunately

https://www.wsj.com/amp/articles/opec-has-a-crippling-problem-its-members-cant-stop-pumping-1501443711

The dynamic working against OPEC is that, collectively, its members need the highest oil prices of any industry playerómore than companies such as Exxon Mobil Corp. , Royal Dutch Shell PLC and most U.S. shale producers, according to Goldman Sachs .

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  #2010 (permalink)
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Reuters :- Canadian heavy oil plugs gap left by OPEC, Latam

Canadian heavy oil plugs gap left by OPEC, Latam | Reuters

Has some pretty cool pictures of the tar sands. I didn't know they literally put the sand in trucks!

Remember the top 4 countries US imports from are (in order) Canada, Saudi, Venezula & Mexico. We all know Saudi is limiting it's exports to the US and according to this article...

Output in Venezuela, an OPEC member, fell 11 percent in the first five months of the year to a 27-year-low due to underinvestment and infrastructure problems. And as political turmoil mounts there, the United States could impose sanctions that would hinder Venezuela's ability to sell crude.

Mexico's production fell 8 percent in the first five months of 2017 from a year ago as a result of long-running natural production declines in aging oilfields. Colombia's dropped 11.5 percent as a consequence of rebel attacks on pipelines.

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