Forum > View Topic (Article)
by Ashraf Laidi
Posted: Nov 19, 2009 21:57
Comments: 315
View Article
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.
 
123456789...32
chloethebull
Posted Anonymously
14 years ago
Feb 22, 2010 23:06
@mont,if i covered my all my gold shorts we would be below 1100 now ..lol..too risky to close out all plus ashraf tweeted 1020 in week or 2...too risky..i have lots of cash on hand an plan on dumping usdcad..an loading up on gold shorts this could be a excellent trade to help bring up the mthly average, i was interested in the cadjpy short but i might stik to gold...thanks gl
montmorency
Abingdon, UK
Posts: 610
14 years ago
Feb 22, 2010 22:37
@Chloe: I closed my most recent position for 1112.5 and an earlier one around 1121. I have an order in for 1117.5, but to be honest, I'm not sure what it's going to do from this point. I mean ultimately down, yes, but how high will it rally first, or will it just go down? Well, I'm sure it will eventually rally, but to where, I'm not sure. 1123, 1125 1128, 1130...?
PippedOff
Canada
Posted Anonymously
14 years ago
Feb 22, 2010 20:54
In the absence of news, short-covering and position-squaring become the themes.

Oh yeah, and WEATHERMEN ANALYSTS pounding the table for higher euro and cable trash, aussie, kiwi, gold, cad. WEATHERMAN out on the wires trying to dupe the public.
chloethebull
Posted Anonymously
14 years ago
Feb 22, 2010 20:32
ya im lookin to dump my usdcad position i went long 1.0420...gonna move that $ into cadjpy short loks like good pips coming our way plus we have gold to short,im also play oil short,not ure why its soo strong an ashraf sayn it could out perform gold,with the huge build we get week after week i woulda thought the supply an demand would have kept it way under 80buks..ohh well just another oppertunity to short..gl
PippedOff
Canada
Posted Anonymously
14 years ago
Feb 22, 2010 20:21
@chloe-made good coin myself just fading. PPT showed up on time again today.

Here's the deal. I am relatively flat as this week is VERY light on the economic calendar/ Ashraf shrewdly pointed out USDGBP only goes down on economic news, or in sympathy with something else.

With the only thing happening this week being Bernanke testimony, which will probably reiterate trying to separate FED FUNDS tightening from DISCOUNT RATE tightening, usdx is in consolidation period here.

Let the PPT, RBA and GOLDman do their things, then take advantage of it. Sounds like you have a good plan. Trying to figure out my entry points for shorting eur, kiwi, aussie, gbp and gold. Looking for USDCAD below 1.0400 again so I can go long.

Fools talking of oil in 90s. Wed will be entering the second leg of the recession here, so who in the right mind would be ADDING risk to their portfolio?

Again, all we are seeing is a short-covering rally inspired by confidence from the PPT intervention in the stock market on a daily basis. When it turns, it will get U - G- L - Y, as Mr. and Mrs. Jones will ONCE AGAIN be cuight holding the bag.
chloethebull
Posted Anonymously
14 years ago
Feb 22, 2010 19:17
hey pippedoff an mont, sold half my gold short 1115,but looking to get back in any were around 1120,might double or triple the position instead of playn usdcad .love seeing ashraf call on 1000 gold..u do any trades?gl
Callum
Singapore, Singapore
Posts: 179
14 years ago
Feb 22, 2010 17:14
Hi Ashraf, do you have any view on seasonality factors for Oil over the next 3 months leading into the summer? I've been looking at the March-May on Crude Oil on average been up. But also cognizant of the extraordinary market conditions we are in now. If Oil's going to outperform say Gold, would that cap the relative CAD weakness vs current USD strengthening, compared to say the AUD?
Ashraf Laidi
London, UK
Posts: 0
14 years ago
Feb 22, 2010 16:56
fxquantum, if u read my analysis on this site, IMTs and twitter, i see gold 1000 and 30% chance of below 970 but no less than 900. Oil may outperform gold.


Ashraf
New Pip
birmingham, UK
Posts: 84
14 years ago
Feb 22, 2010 13:04
Gunjack thanks for sharing
New Pip
birmingham, UK
Posts: 84
14 years ago
Feb 22, 2010 13:04
Cheers Chloe,

the dollar has dropped quite a bit and has pushed the Eur/Usd & oil up. With all the talk that the Eur will pullback further, I'm thinking Dollar may drop a little more thus pushing the oil prices.

I might be wrong, but thats me thinking
Report Reply
123456789...32