Energy Investing - Oil negative again. - Energy Investing - InvestorVillage
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Msg  204504 of 281306  at  5/24/2019 11:54:05 AM  by

BenTen


 In response to msg 204499 by  doomonyou
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Re: Oil negative again.

I thought WTI was going to bounce...maybe up 1% or something...maybe still will be by the end of the day...
 
Was chatting with my hedge fund buddy yesterday asked him to take a look at oil charts - he said buy when WTI hits 45...very depressing as a first opinion...
 
...keep in mind he does not trade energy and never did - nothing in oil - his idea of energy investments is XOM or SLB or nothing - fund is VIX derivatives, US options and aribtrage of Japanese small caps...
 
My thinking is this is light trading today and also it is an echo of expectation around future inventory...
 
If we get good inventory draws oil goes back up...it is not like today or yesterdays action is a crystal ball telling us what inventory draws are going to be but what market expects...normal after going down to the bottom of a range that neutral observers like my hedge fund buddy see 45...what is it supposed to look like after yesterdays drop...
 
The challenge is the bubble of oil prices rising in spite of poor inventory signals in the US has burst...need convincing draws to blow up the bubble again...no more excuses...
 
 


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