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by Ashraf Laidi
Posted: Nov 19, 2009 21:57
Comments: 315
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This thread was started in response to the Article:

Oil Weakness May Intensify

Oil sluggishness may risk turning into a faster selloff, especially as the fuel fails to gain on recent USD losses.
 
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asad
London, UK
Posted Anonymously
14 years ago
Dec 1, 2009 13:57
Ashraf,

Correct that oil surged due to the sailor news...but don't you think Iran's ambitions for ten new n-plants was bigger news? Or maybe both contributed. I hope not...but an Israeli mischief is s/where around the corner (even if a mild try). They just can't keep sitting, can they?

Hedgie, people short oil...make money and don't even NEED to return for days...because they're partying. Hence the quietness when oil is up. I'm short oil at 76 btw - will open a new short should touch 79. Btw, my recent leverage gas ranged b/w five & twenty percent, depending on how I perceive the risk involved in the trade...and the potential gain I can make.

NZ, specialist trading houses exist that're out there JUST to find shorting & arbitrage opportunities, so nothing strange. Remember, if you go w/ the trend...you're a trader - go against it...and you're George Soros! Btw, read my recent post - the day the DW crisis occured, oil was trading at 74...and I wrote that I expect it to return to 76. Remember or check. While I knew it would go up by two, YET I didn't go long. Read into this.

Usman...aaaaaaaand the failure to break above 80 shows that they're 'keeping it up there'. Barring any major fundamental developments, oil should retreat in the coming weeks (even if due to financial close). If you're long, be REALLY careful this w/end...


Asad
kidwai
karachi, Pakistan
Posts: 77
14 years ago
Dec 1, 2009 11:30
Hi to every one and Sallam Ashraf Brother,the big chance is to test 70$.
Thanks
Best Regards.
Usman
Lahore, Pakistan
Posts: 3
14 years ago
Dec 1, 2009 9:54
The faliure of oil to close below $75 mark is a very strong bullish sign. I believe for today $79.2 is on the cards and we may also see $80 on successful follow through
nzvik
Auckland, New Zealand
Posts: 225
14 years ago
Dec 1, 2009 9:46
u will be surprised how many trend fighters exist here - a lot of people seem to love shorting against the trend - not only oil - but gold, indices - it seems that anything that rises has to to be shorted.
Hedgie
Scunthorpe, UK
Posts: 16
14 years ago
Dec 1, 2009 9:15
Are people on this forum still shorting Oil?? Funny how the persistant shorters go v quiet on up days...haha!!
WM
toronto, Canada
Posts: 11
14 years ago
Nov 30, 2009 21:24
Ashraf,
Do you have a time frame in mind for Crude Oil to possibly test 70?
Before Xmas or into the New Year?

Thanks.
Ashraf Laidi
London, UK
Posts: 0
14 years ago
Nov 30, 2009 20:14
Usman, thls for the info. Oil is up today mainly on the Iran news (detaining UK sailors). RIsk appetite remains well constrained

Hedgie, I see another chance to test 70

Ashraf
Hedgie
Scunthorpe, UK
Posts: 16
14 years ago
Nov 28, 2009 21:47
What level of leverage do you use??
Hedgie
Scunthorpe, UK
Posts: 16
14 years ago
Nov 28, 2009 21:44
Asad so how many bottles of champagne did you have to celebrate....
asad
London, UK
Posted Anonymously
14 years ago
Nov 28, 2009 7:22
"P.S. Oil, I suspect will recover to the 76 level s/time next week. I'll open another short position around that."

Ahhhhh...could've wished for s/thing else (spoke too soon). I've opened another short position exactly at 76.00 (rare - I don't normally open/close at rounds). Will look to open yet another if, & when, oil increases.

Now that details of the Dubai 'beneficiaries' are unfolding - HSBC, StanChart, Barclays & RBS tops - weakness SHOULD persist...and oil WOULD be following suit...


Asad
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