comments( drafted 25th nighttime)
hey Bob
You take the time to post here but don't read the news ?
After 2.5 years on S H I would think you can find stock news:
HOU rolls back on Jan 2nd
5 to 1 or to $10 ish 1.95 x 5 = 9.75 - for the arithmetically challenged
Therefore better for funds to trade
( and better with the 1 to 3 cents discount commission for all )
Will still move double the percentage of the daily price change in oil
( more or less ). And resets each day
anyone notice
$us index slipping last while, yet oil still declines ( ie poor world demand ).
( yet gold rose as it should)
Wed bnn - R Croft suggests buy at 1.70 ish ( ie 8.85 ish )
so he that is 1.95 to 1.70 or down 12.8%
now $WTIC is Feb 35.35 on Dec 24 (-updated end of day only )
at
www.stockcharts.com ( try Gallery view - no indication of a bottom)
I finally notice this is the FEB contract ,
not spot ( does a true spot today price exist?)
so $WTIC spot down 6.4% is $35.35 x 0.936 = $ 33.08 (ie R C guess)
Opps that is on that late drop ,
R C may have been thinking from about $37 earlier in the day.
I think $WTIC can touch $29 - 31 ( or worse?) and CNBC says even lower
I use $wtic even though HOU is based on a weighting of near and next futures contract.
so say $30 is down another 15% so HOU could drop another 30% = 1.36 or 6.82 Ouch ( say 7.10)
Pay attention to obnoxious D Gartman
"buy when it stops falling" = the worn out .. catching a falling knife
( Lets coin "skewered by a vicious Ultra")
ie wait for oil to base for a bit , or turn
Oil may not base until Feb 5-20 ( seasonal )
-- weeks ago I made a little on HOD in the $10 area and then stayed out of both Up Down
Nice to see DMM gold turns and breaks out
.......................... update 26th
poster - NYMerc $OWTI ?? ( confusing ) should it not be $WTIC
and I have yet to find an intraday true SPOT cash price anywhere ( not that we need it )
I use
https://futures.tradingcharts.com/intraday/CL_/29 ( also see menu page to change month)
.........................................................
HNU may have based/turned ( or has 1 to 3 day swings here )--yet N Gas dipping on 26th
May be safer to get ready to enter t:HTD soon ( long % rates up , US bonds down)
bnn ran some fill-in shows today and dropped the US live data for 2-3 hours?!
then resumed!
Regards U