Suncor Energy Inc T.SU

FOMC stealing the show today

[MigraineCall]

Seems the oil inventory report has not made any waves yet today. In fact, at the moment, oil is less now than before Putin's announcement of conscription and potential nuclear threat. Go figure...

Inventory report was neutral, almost negative, if you ignore the fact that it had the gift of 6mm bbls from the SPR. So if you are like the rest of the market and think it is OK to pay your Visa bill with your mastercard, you might even believe it too.

I can't, so I bought some HOU.TO for a trade.

Here's some easy charts explaining where we are at the moment:



And one from Ninepoint. You can see where this all is headed...

https://i.postimg.cc/WbFWD1qK/20220921-big-3.png

[MigraineCall]

trying to post it again...

[meritmat]

Hey Migraine How long you plan on holding Hou?

[MigraineCall]

Meritmat: It was just a trade, so for me that could mean minutes or days.  My idea was to take an oil position pre-FOMC announcement as oil dropped towards strong support levels with all the FOMC worry before the announcement, despite a net inventory drop and Putin's comments leading to an escalation of the war. FOMC days are great for day trading, as it is volatile, and prices for

[meritmat]

Great call if you still have Hou. 

[MigraineCall]

Sold. +10k

[GingerEnergy111]

Been away for a while from this board, but thought I would come back today.  You guys have some good conversations and strategy reveals.... I like to play the short term oscillations too, when there is a show stopper; did it with CCO during the japanese earthquake years ago and more recently with HCG.  You have to be nimble and in the end i carried both for a few years later and made