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Oil Weakness May Intensify
Oil sluggishness may risk turning into a faster selloff, especially as the fuel fails to gain on recent USD losses.
You saw today that even positive US data failed to lift oil. For a fifth week running, oil has been closing weak. This gives us a trend (even if I'm not so keen on trends).
Also, given the slight recovery in USD, and the collapse of gold prices, we can expect that oil will try making it towards 70 next week. If you're short, good - stay short. If you're short at 81, what else can you ask for? :)
Asad
Isn't good US data supposed to be bad for USD? Yeah, a dollar rally is overdue...but Jim Rogers is pretty bearish, asking for the g/back to be 'dumped' Similar sentiments echoed by China!
I'm sure the US must be enjoying this weakness in USD, given their trade deficits...
Asad
It's really foolish for you to assume things w/o knowing anyone's worth, leverage and appetite, isn't it? And the fact that you're calling me names on it - let alone wasting your own (seemingly worthless) time - is pretty absurd.
I'll tell you s/thing Hedgie. You really do not seem like a professional because what binds professionals together is honesty & trust. Let's say there are around thirty members on this Forum, who come everyday to discuss their positions. I, like everyone else on this Forum take their positions and trades on face value. Never before have I seen anyone doubt anyone's positions!
Hedgie, just because others don't trust you doesn't mean that you don't trust them. Again, you do not know my personal or financial position...and are just assuming things based on your limited knowledge. I can assume a lot of things about you; yet, I decide to keep my composure. Just because you don't trust yourself doesn;t mean that you don't trust others
Since you've so much free time,read Qin vs. Spec & Qin vs. Ashraf posts & see how the former debased the latters w/o any justification. You're doing the same...and you, I can see, will meet the same end. Who are you to analyze my positions? What you did in the City has undone us all...and that's what probably cost you your job as well. So take your trading style wherever you wish.
I'm PRETTY happy w/ my fundamental trading...and as long as I make money, I don't care if I get hired by Goldman or not (& for the record, I turned down an offer from JPM FI desk for a better, obvious interest).
All I can say is that you're looking for some attention...and well, you got your six cents worth of attention from Gunjack (& WHAT an attention that is - not).
In case you're craving for more, I've heard there are some pretty good gay bars here in London. Those folks'll give you pretty good 'attention'!
Asad
P.S. Hedgie, you have no right to question anyone...esp/ when you don't have any idea about them. Remember this...before it comes back to undo you (if it han't already).
What, in your experience, has been the correlation b/w DUG & oil. It would be interesting to note if both tend to move inversely in tandem...
Asad
You are absl. right on Dollar views.We may enter aseason where Dollar goes up where we can see see GBP around 1.50 Euro 1.40 so guess te price of GOLD
Price of an asset will never fall to zero and there is always cycles. the dollar will rise on monetary tightening. The watch all the asset markets and the fact that stocks have risen SO much they would have reached most of their objectives of reflating.
The world does NOT want a strong dollar its the last thing they want. The dollar will rally faster than it fell since march and many WILL be bitten. The smarterst of investors are not betting against dollar collapsing and quite the opposite.
Im sure many have been burnt buy shorting the dollar against the yen this week. As for gold, people will get burnt thinking it will go much higher. It seems that the dollar is funding gold which will not last long.
That must be a joke, mhh? I mean even the US gov wants a weak dollar so why should we fight against the printing press? Today's numbers were a joke, they did some fancy calculation again to get the number from 10.2% to 10.0%.
I agree that there will be another Dollar rally. But not this year, and probably not next year. But that's my point of view only.
is we going to face another big liquidation in oil?I am holding my old shorts near $81.
Regards,
Rajib.
bnp paribas have also sent a note regarding 2 years of dollar rally to come. have a look at bloomberg.