Oil : USO - USL - CL futures and oil ETF discussion - Page 31

my XON should do well tomorrow

oil sliding off its overnight highs down near 77, pretty good drop considering the tear it was on. Looking at preM activity lots of red, financials down steep, spx down.. could be the break I was looking for

Back over 78 oil continues to go higher 6 days in a row.

well I am fully out of short positions holding long calls for hedge still nov 40's i am dumbfounded by this persistent rally in wti. there are some very strong forces pushing oil higher this is catching many analysts off gaurd. I suspect GS and other large institutions may be at least partially responsible.. maybe hoping to fulfill their $85 year end predictions. either that or something in the works that only those privileged are aware of.. it is quite clear fundamentals are out of the question once again.. ahh good times :S

Any one think oil will hit 80 by eow??

IMO King Dollar being turned into a pumpkin has more to do with WTI than anything right now, with all the talk of trading oil in a currency basket moving forward feeling like it has a lot to do with the dollar devaluation. I flipped UCO from PM 13.8x to 14.0x, small beans but it woulda been smaller in USO. I don't like USO at all, and will only day trade the oil issues unless there is a specific news event breaking or imminent that may set up a probable multi-day rally... and I don't trust UCO half as far as I can throw it. Leveraged, ETF, contango, you name it.

Yes. although i thought it would be up more today with the markets up around 1%

Yeah oil has been hard to swing trade lways but lately seems to be worse, or I am nto getting the breaks. Have had far more success playing with NAtgas 2X People dont buy gas as a dollar hedge

Looks probable

Oil futures flirting with that 80 mark

Guess it is a bad time for me to upgrade out of my civic.

something interesting about oil from bloomberg.com....

Oct. 22 (Bloomberg) -- Oil is “too cheap” and should rise to $88 a barrel in coming months after the dollar’s decline against the euro, a DekaBank study suggests.......A euro-dollar rate of $1.55 would push oil to $96 a barrel, the DekaBank study shows. A rate of $1.40 would imply a crude price of $74, according to the study.

I have a Civic and a 328is...the MPG may very well decide which one I sell. LOL. 32mpg or 20mpg city...hrmmm. But the Bimmer is so sweet damnit.

If only it were that simple theres a lot more to crude futures then simply comparing USD/EUR chart altho right now it is ONE of the main dirving forces it SEEMS.

Oil is looking very nice here.

Watch for the breakout above $80.

That's the one I was looking at but maybe a xi. Probably get in after the winter.

I agree, I think the USD is the key if it breaks below the 74.50 mark watch oil pop.

XI after winter??? What good is awd once the snow clears?
When I can do it right I'll run with a 335 turbo, till then Civic it is. Made my mind up finally. LOL

That book I mentioned earlier said that the catalyst for the market to turnover was oil spiking, and wouldn't you know it oil is about to give us a buy signal while the markets are setting up for sell signals. i really recommend getting that book.

"The Great Depression Ahead" for those interested.

Figured I could get a better deal after winter plus I'll have more money saved up I'm not big on financing. Not sure if my civic will last until then though it is turning into a rust bucket. I was also considering an audi a4 awd turbo they are even a little cheaper than the bmws but I don't think they are as reliable.

There is data being hidden by International Energy Agency.
It appears that they are being pressured not to reveal the truth
about oil reserves. If new information is released, this could cause a spike in
oil I think.