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What direction is oil headed with financial woes?

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  • the only explanation to me is technical buying in the metals, as there was a quick surge $35 in 10 minutes. funds are buying and apparently bullish wagers on gold are at a 5 month high

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    • Impact of USD on price of oil

      http://www.kitco.com/kitco-gold-index.html

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      • doubled down on HOD this AM
        second double down
        1 hod
        2 hod
        4 hod
        7 total guessing my acb is 4.62 or so... the 4.49 hurt a bit, but it cant stay up to me, plus the broken pipeline will be or is online , that was over 300KBBL/day taken out.

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        • Originally posted by nofo View Post
          doubled down on HOD this AM
          second double down
          1 hod
          2 hod
          4 hod
          7 total guessing my acb is 4.62 or so... the 4.49 hurt a bit, but it cant stay up to me, plus the broken pipeline will be or is online , that was over 300KBBL/day taken out.
          don't fight the trend. when we broke $105 2 weeks ago that was very bullish. we are heading into summer, plus geopolitical factors. I dont see anything bearish in the medium term. eventually we'll have another large 30% correction when sentiment changes but that isnt happening until we are much higher. you have all these bullish factors now supporting, driving the market. netanyahu whining the other day that they will possibly strike iran within the next few months

          Comment


          • Originally posted by nofo View Post
            doubled down on HOD this AM
            second double down
            1 hod
            2 hod
            4 hod
            7 total guessing my acb is 4.62 or so... the 4.49 hurt a bit, but it cant stay up to me, plus the broken pipeline will be or is online , that was over 300KBBL/day taken out.
            Hi nofo..may last trade on HOD was 24Feb...buy @ 4.39/sell @ 4.69 29Feb....but I missed the U swing....so am looking for 4.39ish again...

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            • I smell a rat, metals and oil strong as US$ strengthens. This might be a setup for further capitulation next week. I may make my D entries on Monday.

              Comment


              • Originally posted by op1kenobi View Post
                I smell a rat, metals and oil strong as US$ strengthens. This might be a setup for further capitulation next week. I may make my D entries on Monday.
                sure the usd gained against most fiat currencies on friday, but it lost value vs gold, oil, copper, etc.

                Comment


                • Originally posted by op1kenobi View Post
                  I smell a rat, metals and oil strong as US$ strengthens. This might be a setup for further capitulation next week. I may make my D entries on Monday.
                  Are you jumping in? If the drop in oil holds, they say it broke support at $106.50.

                  disclosure: 24/24 hod at 4.65

                  Comment


                  • Originally posted by moneyhungry View Post
                    don't fight the trend. when we broke $105 2 weeks ago that was very bullish. we are heading into summer, plus geopolitical factors. I dont see anything bearish in the medium term. eventually we'll have another large 30% correction when sentiment changes but that isnt happening until we are much higher. you have all these bullish factors now supporting, driving the market. netanyahu whining the other day that they will possibly strike iran within the next few months
                    Hey money... I will give you this ... you are usually correct in the medium term.. being to me a 3-10 days, and also longer term 10-20 days, but the short term as proved today and the inverse reaction last week was just too wierd.... thats why i went against the trend. held hod

                    Today it was china, I am losing track of some of the variables, greece tomorrow I guess, then portugal and spain enter the picture... and at some point the USD dispite strength should weaken against gold/silv and oil...???

                    sold a bunch of CEE goldmine for 8% one day gain, bought more goldminers HGU and holding some of that HEP (managed covered calls 10-18%/monthly div) i bid for it but it did not touch down to fill, I think its a great buy..

                    Comment


                    • Originally posted by nofo View Post
                      Hey money... I will give you this ... you are usually correct in the medium term.. being to me a 3-10 days, and also longer term 10-20 days, but the short term as proved today and the inverse reaction last week was just too wierd.... thats why i went against the trend. held hod

                      Today it was china, I am losing track of some of the variables, greece tomorrow I guess, then portugal and spain enter the picture... and at some point the USD dispite strength should weaken against gold/silv and oil...???

                      sold a bunch of CEE goldmine for 8% one day gain, bought more goldminers HGU and holding some of that HEP (managed covered calls 10-18%/monthly div) i bid for it but it did not touch down to fill, I think its a great buy..
                      the chinese trade deficit came in at a 30 year high, very unexpected. the chinese rarely have trade deficits. good news is they will start to ease policy more which is bullish. we'll see what the fed says tomorrow most likely they are gonna stick to the usual script. watchers will be looking for any hint of scrapping the 2014 rate pledge. I find it funny that the chinese trade deficit is being treated as bad news, yet the u.s. trade deficit for january came in at a 3 year high and nobody cared. that proves the u.s. economy is not getting stronger, a stronger economy will produce more goods, their trade deficit should be narrowing not growing.

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                      • I know money would be saying buy the miners right now.... so I did.

                        sold HOD 4.66
                        bot HGU
                        bot HEP
                        bot K
                        amazing CEE is unscathed in this drop, but why the run from gold, or just currency driven?

                        Comment


                        • Originally posted by nofo View Post
                          I know money would be saying buy the miners right now.... so I did.

                          sold HOD 4.66
                          bot HGU
                          bot HEP
                          bot K
                          amazing CEE is unscathed in this drop, but why the run from gold, or just currency driven?
                          gold could be heading back down towards $1500 since itll be closing down below the key 1670 area. ill be interested to see the unemployment claims tomorrow, if they are higher than expected itll be the 4th week in a row

                          Comment


                          • As the US housing market was in tatters in 2008, the government had passed many bills like the
                            Economic Stimulus Act (ESA) and the HERA or the Housing Economic Recovery Act and the
                            main goal of these laws was to boost the amount of mortgage loans financing in the conventional
                            form in most of the states of America.

                            Financial expert.

                            http://www.debtconsolidationcare.com/

                            Comment


                            • Originally posted by nofo View Post
                              I know money would be saying buy the miners right now.... so I did.

                              sold HOD 4.66
                              bot HGU
                              bot HEP
                              bot K
                              amazing CEE is unscathed in this drop, but why the run from gold, or just currency driven?
                              An alternative view on what is driving the gold price
                              http://www.zerohedge.com/news/anothe...ing-gold-again
                              "the ECB has increased its margin calls on European banks by EUR162 million this week to another record high of over EUR17.3 billion. While our pointing out of this huge jump from 'average' historical margin calls last week was met with - it's temporary/transitory due to temporary/transitory ineligibility of defaulted (and since undefaulted) Greek bonds (which given the rise this week has now been proven incorrect) or the more prosaic "don't worry, be happy", ... The side-effect of this appears to be (as we pointed out here) that Gold (the banks' remaining quality collateral) is being sold to cover these margin calls"
                              https://twitter.com/tqft9999

                              Comment


                              • Originally posted by tqft View Post
                                An alternative view on what is driving the gold price
                                http://www.zerohedge.com/news/anothe...ing-gold-again
                                "the ECB has increased its margin calls on European banks by EUR162 million this week to another record high of over EUR17.3 billion. While our pointing out of this huge jump from 'average' historical margin calls last week was met with - it's temporary/transitory due to temporary/transitory ineligibility of defaulted (and since undefaulted) Greek bonds (which given the rise this week has now been proven incorrect) or the more prosaic "don't worry, be happy", ... The side-effect of this appears to be (as we pointed out here) that Gold (the banks' remaining quality collateral) is being sold to cover these margin calls"
                                Cool, thanks , that feels better... I think gold miners are oversold...
                                sold hod
                                bought hou
                                sold K
                                bought K back
                                sold K
                                sold CEE
                                holding hep

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