RE:RE:OPECPROtrading wrote: theoilking wrote: Just enough to keep bulls hanging on!
https://www.wsj.com/articles/opec-could-take-months-to-reach-oil-deal-1474969322
Wanna bet?
I speculation is that Wall Street will deep six oil. Watch. Not saying I'm a future teller but without some real decrease in production, it's a buyer's market on oil and that means sellers suffer.
And we'll have all the math geniuses on Baytex projecting $30 oils for years and .... you can guess the rest....
OK, what's a good sector to go long on. Not ready to short oil. I don't trust Wall Street one bit and I'll only daytrade oil via UWTI/DWTI I close out positions daily.
Im sure the Saudis and Iran read the API/EIA reports too and are just waiting cause they know oil is balanced and the price oil will go up on its own now and by next meeting they'll be no deal cause the price of oil is recovering on its own . Oil is being manipulated so bad right now by Wall Street and they are pushing oil down on any opportunity they can get cause all their rich clients missed the boat the first time. From the last 3 weeks of reports oil should be at $50 now but drive it down on any negative comments by OPEC I think Oil is even lower now than it was 3 weeks ago. Guess we'll just have to wait for traders to "change their sentiment on oil ". Translation " get all loaded up on cheap oil plays". They aren't getting my shares though. This will be over bought again soon. Glta