RE:RE:RE:Octane its not about market sentimentI think that was a reference from Nuttall? I think he mightve been referring to stocks, not WTI. The volume on WTI is very high. Where are you looking? I am looking at the Nymex. Currently more than half of regular volume already traded. Its usually a lot less than that at open. All days this week and last week, huge volume for WTI. At this time of year, the volumes are usually under the average as there is seasonal weakness and related low seasonal volume. Ive been watching this commodity trade for decades, and this is very unusual December trading.
HighOctane89 wrote: Actually I'm hearing just the opposite riski , WTI contracts are only trading at 1/3rd normal volumes . On low volume , down is the easiest direction especially with a compliant media . China is closed , sell oil ....... China is reopening , sell oil ...... big inventory draw , ignore it and sell oil . Lots of suggestive words like "if" or "could" and "recession" keep people from asking , "how do you have a recession with full employment" ?
Next Friday is triple witching so we'll have to see what price they have chosen to close the contract on , in the mean time if the price becomes to compeling to ignore it could draw traders in off the sidelines . Keep in mind how low inventories are , they continue to drop daily and we aren't even officially into winter yet . All that aside , I agree with your thought process regarding the rest of the post riski