Oilfuturestrader + 10 CR November 19, 2018 Let's just make one thread for the selloff instead of saying oil going to 60.. or 55.. or 50 .. and then we hit it. Makes no sense!! Quote Share this post Link to post Share on other sites
Oilfuturestrader + 10 CR November 19, 2018 Oil is at 55 now and NEAR LOY Quote Share this post Link to post Share on other sites
Rodent + 1,424 November 19, 2018 right where we started the year from, pretty much. 1 Quote Share this post Link to post Share on other sites
Oilfuturestrader + 10 CR November 20, 2018 OIL IS NEAR LOWS AGAIN Quote Share this post Link to post Share on other sites
Rebel44 + 7 JJ November 20, 2018 (edited) https://www.cnbc.com/2018/11/20/libyas-oil-production-could-soar-higher-despite-opec-weighing-cuts.html?__source=yahoo|finance|headline|story|&par=yahoo&yptr=yahoo This (Libya went from +-500K to 1.28M bbl/day in the last 6 months and want to be excluded from potential OPEC production cut) is not helping... OPEC + Russia would have to agree on a substantial (2+M bbl/day) production cut (and actually do it) in order to drive price higher ($65+). If Russia refuses to participate in any production cuts, it will make the OPEC's decision to cut its own production much harder. Edited November 20, 2018 by Rebel44 Quote Share this post Link to post Share on other sites
Oilfuturestrader + 10 CR November 20, 2018 It has to be a coordinated effort with all OPEC nations plus the rebels to cut to stabilize prices. They may do it because many are in pain with the $20+ selloff 1 Quote Share this post Link to post Share on other sites
Rebel44 + 7 JJ November 20, 2018 1 hour ago, Oilfuturestrader said: It has to be a coordinated effort with all OPEC nations plus the rebels to cut to stabilize prices. They may do it because many are in pain with the $20+ selloff They are playing the same game of chicken as in late 2014 - we just have to wait and see how they decide this time (this time absent of a delusion that they can drive fracking companies from the market). "cut production in coordination with us or nobody will cut their production and we all will suffer from even lower prices" 1 1 Quote Share this post Link to post Share on other sites
Oilfuturestrader + 10 CR November 20, 2018 19 minutes ago, Rebel44 said: They are playing the same game of chicken as in late 2014 - we just have to wait and see how they decide this time (this time absent of a delusion that they can drive fracking companies from the market). "cut production in coordination with us or nobody will cut their production and we all will suffer from even lower prices" VERY TRUE MY FRIEND Quote Share this post Link to post Share on other sites
Rodent + 1,424 November 20, 2018 Looking uglier and uglier out there today, my friends! I think we will see a crude oil inventory build again today from the API, so it might get worse before it gets better. If OPEC doesn't like these prices, I would think very soon Al--Falih will "leak" something about some production cuts. Quote Share this post Link to post Share on other sites
Dan Warnick + 6,100 November 20, 2018 Man, I wish I had been short on this. OILD, which is an inverse ETF, is up 22% ($7.13) on the day so far. 1 Quote Share this post Link to post Share on other sites
Oilfuturestrader + 10 CR November 20, 2018 This is the best short in 5 Years! Quote Share this post Link to post Share on other sites
Dan Warnick + 6,100 November 20, 2018 23.23% now. That's the biggest return I can see on the markets today! Anybody else? Quote Share this post Link to post Share on other sites
Oilfuturestrader + 10 CR November 20, 2018 How much was it trading at before the selloff? Quote Share this post Link to post Share on other sites
Rodent + 1,424 November 20, 2018 2 minutes ago, Oilfuturestrader said: How much was it trading at before the selloff? Quote Share this post Link to post Share on other sites
Rodent + 1,424 November 20, 2018 Over -7% now. It's ugly, ugly, ugly out there. Trade safe! And I'll say to ya'll what I say to my kids before they walk out the door for school every day. "Make good choices!" Quote Share this post Link to post Share on other sites
Dan Warnick + 6,100 November 20, 2018 3 minutes ago, Oilfuturestrader said: How much was it trading at before the selloff? About $31.60 Quote Share this post Link to post Share on other sites
Dan Warnick + 6,100 November 20, 2018 11 minutes ago, Oilfuturestrader said: This is the best short in 5 Years! Are you short? Quote Share this post Link to post Share on other sites
Oilfuturestrader + 10 CR November 20, 2018 THAT IS INSANE DAN!! Quote Share this post Link to post Share on other sites
Oilfuturestrader + 10 CR November 20, 2018 No I am not short! I am flat Quote Share this post Link to post Share on other sites
Dan Warnick + 6,100 November 20, 2018 I missed this move in oil. Too bad, so sad. 😢 I'm shorting the Russell 1000, so I have to settle with a gain on my inverse ETF of about 5.36% on the day so far. Not bad, but 20%+ on oil would have been better! 1 Quote Share this post Link to post Share on other sites
Oilfuturestrader + 10 CR November 20, 2018 I knew the move would occur all summer but I was looking to stop trading oil after a great year. Last trade I went long at 72... got stopped out 62. Ugh .. hurts like hell! Quote Share this post Link to post Share on other sites
Dan Warnick + 6,100 November 20, 2018 Was anybody else on here short oil today? Long? Quote Share this post Link to post Share on other sites
Dan Warnick + 6,100 November 20, 2018 1 minute ago, Oilfuturestrader said: I knew the move would occur all summer but I was looking to stop trading oil after a great year. Last trade I went long at 72... got stopped out 62. Ugh .. hurts like hell! Been there, done that. Ouch. 1 Quote Share this post Link to post Share on other sites
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