Tom Kirkman

Who writes this stuff? "Crude Prices Swing Between Gains, Losses"

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12 hours ago, DayTrader said:

tell him to reduce position sizes and learn patience ...  👍

LOL learn patience from "day trader"

"Reduce position size" means be broke and have little skin in the game. #It'sFunToPretend

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(edited)

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Try harder.    #noclass #donk #manup

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Cheers.

#DT2020

Edited by DayTrader

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On 11/13/2019 at 3:36 PM, Enthalpic said:

A magic 8 ball or random number generator would actually improve a lot of peoples trading success.  People are emotional creatures.

 

On 11/13/2019 at 7:13 AM, DayTrader said:

Ordered  👍:)

Bargain

See the source image

A pet might serve you better DT...

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(edited)

Please don't quote him lol. All I've read for days is ''you've chosen to block content by enthalpric'' and he still rants away to himself. It's hilarious.

Hence the irony of his sentence. Mr Emotion / Insecure been going on and on for days, to a point that he got a warning. 

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Edited by DayTrader

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(edited)

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There it is.

#aesopdonkey

Edited by DayTrader

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Truth in headlines.  For the traders:

Oil Prices Stay Range-Bound and Boring

WTI and Brent crude oil prices showed some positive momentum early Thursday but ultimately posted day-on-day-losses.
West Texas Intermediate (WTI) and Brent crude oil prices showed some positive momentum early Thursday but ultimately posted day-on-day losses.

The December WTI contract price lost 35 cents Thursday to settle at $56.77 per barrel. The light crude marker traded within a range from $56.63 to $57.79.

Brent crude for January delivery posted a more modest nine-cent decline, ending the day at $62.28 per barrel.

“Oil prices have been range-bound and largely boring due to the upcoming OPEC meeting and mediocre, but not bad, economic outlook,” said Campbell Faulkner, senior vice president and chief data analyst at the interdealer commodities broker OTC Global Holdings. “Coupled with continuing ‘will they or won’t they’ uncertainty between the U.S. and China, EU – really any trading partner, volatility in the market has been driven out barring an extreme geopolitical event.”

Faulkner commented that crude’s increasing futures liquidity – meaning cash-settled – versus overall physical supply has also had an effect.

The market has “become somewhat more of a financial index as compared to a hard deliverable futures market of the past,” Faulkner explained. “That has caused the prices of Brent and WTI to act somewhat like stores of value in addition to being commodity futures.”  ...

 

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^ I have no clue what that last paragraph means though.

First bits talk about oil prices being range bound, boring, and lacking volatility.

Then the last bit wanders off into some theory about stores of value  (perhaps like Walmart stores, but with cheap oil from China?)

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55 minutes ago, Tom Kirkman said:

(perhaps like Walmart stores, but with cheap oil from China?)

🤣

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What I find odd is that the crude oil buyers make a move on crude when they hear the number of barrels in storage every Wednesday.  Of course, there are swings in crude oil from storage, but it should have zero effect on the market prices. But when oil is removed or not on Wednesday, it creates a rapid fire response on prices in the market due to a number of barrels being pulled.   That's a very erratic way to decide what you want to do in buying or selling crude.

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