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CL Inventory Reports
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CL Inventory Reports

  #1 (permalink)
Elite Member
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tderrick's Avatar
 
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CL Inventory Reports

I went to the Forex Factory to check out the oil inventory report for Wednesday.

The inventory went +3.1 ...

So why did that report push prices higher? If a positive # represents more oil, wouldn't supply and
demand drive prices down??

Fundamental economics insight , please...


tia


AJ
Nashville, Tennessee


"Life On The Edge of SR"

Last edited by tderrick; October 7th, 2010 at 08:14 AM. Reason: typo
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  #3 (permalink)
CL Assassin
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tderrick View Post
I went to the Forex Factory to check out the oil inventory report for Wednesday.

The inventory went +3.1 ...

So why did that report push prices higher? If a positive # represents more oil, wouldn't supply and
demand drive prices down??

Fundamental economics insight , please...


tia

Hey AJ,

Here is one guess:
Forex @ DailyFX - Crude Oil Gains After Bullish Inventory Report, Gold Hits a new Record on Relentless Dollar Decline
You have to also keep an eye on gasoline demand and other things.

I learned a while back to quit trying to guess where the price would go based on the news report, and instead watch and react to price, and then trade it accordingly.

I know when the news is; don't care what the result is.

Gary

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  #4 (permalink)
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Gary View Post
Hey AJ,


I know when the news is; don't care what the result is.

Gary


Thanks, Gary...


Are there any other reports I should be aware of for trading the CL??

I certainly will not have a postion open at 9:30 am on Wednesdays from now on!!


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #5 (permalink)
CL Assassin
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tderrick View Post
Thanks, Gary...


Are there any other reports I should be aware of for trading the CL??

I certainly will not have a postion open at 9:30 am on Wednesdays from now on!!

AJ,

I would recommend using forexfactory.com and look for anything medium or major impact for US (unemployment, housing reports, ISM, etc) and be flat prior and a few minutes after. Just my $.02.

Gary

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  #6 (permalink)
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No rhyme or reason for price reaction to oil news, or any news for that matter. As Gary, I pay attention to the news release time but never know what the estimate or actual figure was.

DOE report is the big market mover though the API report after the 4pm close on Tues can also impact CL.


tderrick View Post
Thanks, Gary...
Are there any other reports I should be aware of for trading the CL??
I certainly will not have a postion open at 9:30 am on Wednesdays from now on!!


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  #7 (permalink)
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Gary View Post
AJ,

I would recommend using forexfactory.com and look for anything medium or major impact for US (unemployment, housing reports, ISM, etc) and be flat prior and a few minutes after. Just my $.02.

Gary


Thanks for helping, Gary....


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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Gary View Post
I learned a while back to quit trying to guess where the price would go based on the news report, and instead watch and react to price, and then trade it accordingly.

I know when the news is; don't care what the result is.

Worth repeating Trade what you see.

Mike

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Gary View Post
AJ,

I would recommend using forexfactory.com and look for anything medium or major impact for US (unemployment, housing reports, ISM, etc) and be flat prior and a few minutes after. Just my $.02.

Gary

There is also a futures.io (formerly BMT) Economic Calendar. Click "Quick Links" and it is there.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
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to support our community, become an Elite Member.

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  #10 (permalink)
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Big Mike View Post
There is also a futures.io (formerly BMT) Economic Calendar. Click "Quick Links" and it is there.

Mike

"Linkified":

Economic Calendar - Big Mike Trading Forum

Gary

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