I_Am_Madness Posted January 11, 2016 Report Share Posted January 11, 2016 Crude closed and trending down below 2008 low now.. Trend mirror back in 2000-2004 shows a lot of chop in here but that was a long time ago. I see some support $24-25 but then nuttin down to $10. Holding DNO At 10 bucks, would there be any profitable oil companies out there? Link to comment Share on other sites More sharing options...
MrHankydoesWallStreet Posted January 11, 2016 Report Share Posted January 11, 2016 ! Link to comment Share on other sites More sharing options...
MrHankydoesWallStreet Posted January 11, 2016 Report Share Posted January 11, 2016 Short triggered on IBB,in BIS at 38.65, die pig market die! Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 11, 2016 Report Share Posted January 11, 2016 ! I guess everyone is doing just fine except for the Canadian and USA drillers. No more fracking? Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 11, 2016 Report Share Posted January 11, 2016 SPY day 3 outside of BB. Haven't even sniffed the 5 dma for 2 weeks... Link to comment Share on other sites More sharing options...
zero_value Posted January 11, 2016 Report Share Posted January 11, 2016 ! US about $36 a barrel, problem with Middle East if shipping cost which are 5x production, not much "local" consumption in that sh*t hole. Most of the World producers at 30 a barrel are in deep deep trouble: http://money.cnn.com/interactive/economy/the-cost-to-produce-a-barrel-of-oil/index.html?iid=EL Me long when everyone is selling in early as usual! Link to comment Share on other sites More sharing options...
MrHankydoesWallStreet Posted January 11, 2016 Report Share Posted January 11, 2016 Panic its panic,EW once things retrace past 78.6 they almost always go all the way back. They said crude storage capacity is getting maxed out world wide AND DEMAND side Us is headed for recession along with rest of the globe. Sure it'll come back but me thinks it gets a lot worse b4 it gets better. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 11, 2016 Report Share Posted January 11, 2016 Not even OPEX can stop this fall.... Link to comment Share on other sites More sharing options...
MrHankydoesWallStreet Posted January 11, 2016 Report Share Posted January 11, 2016 Stopped out at even on BIS...felt good for a while. Link to comment Share on other sites More sharing options...
zero_value Posted January 11, 2016 Report Share Posted January 11, 2016 Panic its panic,EW once things retrace past 78.6 they almost always go all the way back. They said crude storage capacity is getting maxed out world wide AND DEMAND side Us is headed for recession along with rest of the globe. Sure it'll come back but me thinks it gets a lot worse b4 it gets better. Tough to argue the Panic and momentum in Crude.....But....Me made a few bucks going long Natty in the 2.00 range only to watch it drop to 1.65 and now over 2.40! Fundermentals for Natty were touted as much worse than Crude....But....Keep an eye on rig count....For Natty and Crude rig counts keep dropping....For Natty the "bottom" in count hit a couple weeks after the price crashed to 1.65....Not saying this will happen with Crude but keep an eye on rig counts no matter what other noise is around..... Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 11, 2016 Report Share Posted January 11, 2016 Long UCO @9.00 There we go...maybe we get a nice bounce this week. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 11, 2016 Report Share Posted January 11, 2016 Double bottom on the hourly? Long ES at 1906.25. Stop below 1892. Nice risk and reward setup here. Trade safe. Link to comment Share on other sites More sharing options...
zero_value Posted January 11, 2016 Report Share Posted January 11, 2016 Double bottom on the hourly? Long ES at 1906.25. Stop below 1892. Nice risk and reward setup here. Trade safe. . Me likey this one.....sticking with long Crude for the next 3-4 weeks or until UCO hits 14 range....lets see if me has the patience....Will add into weakness..... Link to comment Share on other sites More sharing options...
tema9 Posted January 11, 2016 Report Share Posted January 11, 2016 At 10 bucks, would there be any profitable oil companies out there? Is amazon profitable? The real question is would the National Oil Producer's benefit if the open market in oil failed. If the oil price went to $10, the problem would be reliability of production, workers laid off, the ones left not being able to maintain the equipment etc, when your tanker turns up to load your 1,000,000 barrels it takes 2 weeks instead of 2 days. The real price of non WTI or Brent has already reached $24 01/08 OPEC Basket: $28.46 +1.61 01/08 Venezuela Basket :*$27.87 -1.19 01/08 Venezuela Basket :**$27.87 ($44.65/2015) 01/08 Mexico Basket : $23.65 -0.46 Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 11, 2016 Report Share Posted January 11, 2016 How many bank failures will occur at 10 dollar oil? 2008 all over again. Link to comment Share on other sites More sharing options...
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