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CL Inventory Reports


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CL Inventory Reports

  #1 (permalink)
 
tderrick's Avatar
 tderrick 
Nashville, Tennessee
 
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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


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  #3 (permalink)
 
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 Gary 
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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 [AUTOLINK]Bullish[/AUTOLINK] 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)
 
tderrick's Avatar
 tderrick 
Nashville, Tennessee
 
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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


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  #5 (permalink)
 
Gary's Avatar
 Gary 
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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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 Snoop 
Toronto, Ontario
 
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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!!


Reply With Quote
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  #7 (permalink)
 
tderrick's Avatar
 tderrick 
Nashville, Tennessee
 
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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


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  #8 (permalink)
 
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 Big Mike 
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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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  #9 (permalink)
 
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 Big 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

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

Mike

"Linkified":

Economic Calendar - [AUTOLINK]Big Mike Trading[/AUTOLINK] Forum

Gary

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Last Updated on October 9, 2010


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