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Updated October 10, 2010
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October 7th, 2010, 07:13 AM
Nashville, Tennessee
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
Posts: 1,588 since Sep 2010
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I went to the Forex Factory to check out the oil inventory report for Wednesday.
The inventory went +3.1 ...
So why did that report push prices higher? If a positive # represents more oil, wouldn't supply and
demand drive prices down??
Fundamental economics insight , please...
tia
AJ
Nashville, Tennessee
"Life On The Edge of SR"
Can you help answer these questions from other members on NexusFi?
Best Threads (Most Thanked) in the last 7 days on NexusFi
October 7th, 2010, 07:58 AM
Near Dallas, Texas, US
Experience: Advanced
Platform: NinjaTrader
Broker: ZenFire
Trading: CL
Posts: 1,072 since Jun 2009
Thanks Given: 504
Thanks Received: 2,239
tderrick
I went to the Forex Factory to check out the oil inventory report for Wednesday.
The inventory went +3.1 ...
So why did that report push prices higher? If a positive # represents more oil, wouldn't supply and
demand drive prices down??
Fundamental economics insight , please...
tia
Hey AJ,
Here is one guess:
Forex @ DailyFX - Crude Oil Gains After [AUTOLINK]Bullish[/AUTOLINK] Inventory Report, Gold Hits a new Record on Relentless Dollar Decline
You have to also keep an eye on gasoline demand and other things.
I learned a while back to quit trying to guess where the price would go based on the news report, and instead watch and react to price, and then trade it accordingly.
I know when the news is; don't care what the result is.
Gary
October 7th, 2010, 08:43 AM
Nashville, Tennessee
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
Posts: 1,588 since Sep 2010
Thanks Given: 4,260
Thanks Received: 2,532
Gary
Hey AJ,
I know when the news is; don't care what the result is.
Gary
Thanks, Gary...
Are there any other reports I should be aware of for trading the CL??
I certainly will not have a postion open at 9:30 am on Wednesdays from now on!!
AJ
Nashville, Tennessee
"Life On The Edge of SR"
October 7th, 2010, 09:01 AM
Near Dallas, Texas, US
Experience: Advanced
Platform: NinjaTrader
Broker: ZenFire
Trading: CL
Posts: 1,072 since Jun 2009
Thanks Given: 504
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tderrick
Thanks, Gary...
Are there any other reports I should be aware of for trading the CL??
I certainly will not have a postion open at 9:30 am on Wednesdays from now on!!
AJ,
I would recommend using forexfactory.com and look for anything medium or major impact for US (unemployment, housing reports, ISM, etc) and be flat prior and a few minutes after. Just my $.02.
Gary
October 7th, 2010, 09:32 AM
Toronto, Ontario
Experience: Advanced
Platform: NinjaTrader, Multicharts
Broker: IB, IQfeed
Trading: ES, CL
Posts: 203 since Oct 2009
Thanks Given: 135
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No rhyme or reason for price reaction to oil news, or any news for that matter. As Gary, I pay attention to the news release time but never know what the estimate or actual figure was.
DOE report is the big market mover though the API report after the 4pm close on Tues can also impact CL.
tderrick
Thanks, Gary...
Are there any other reports I should be aware of for trading the CL??
I certainly will not have a postion open at 9:30 am on Wednesdays from now on!!
October 7th, 2010, 09:32 AM
Nashville, Tennessee
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
Posts: 1,588 since Sep 2010
Thanks Given: 4,260
Thanks Received: 2,532
Gary
AJ,
I would recommend using forexfactory.com and look for anything medium or major impact for US (unemployment, housing reports, ISM, etc) and be
flat prior and a few minutes after. Just my $.02.
Gary
Thanks for helping, Gary....
AJ
Nashville, Tennessee
"Life On The Edge of SR"
October 7th, 2010, 01:43 PM
Manta, Ecuador
Site Administrator Developer Swing Trader
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,597 since Jun 2009
Thanks Given: 33,320
Thanks Received: 101,885
Gary
I learned a while back to quit trying to guess where the price would go based on the news report, and instead watch and react to price, and then trade it accordingly.
I know when the news is; don't care what the result is.
Worth repeating Trade what you see.
Mike
October 7th, 2010, 01:43 PM
Manta, Ecuador
Site Administrator Developer Swing Trader
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,597 since Jun 2009
Thanks Given: 33,320
Thanks Received: 101,885
Gary
AJ,
I would recommend using forexfactory.com and look for anything medium or major impact for US (unemployment, housing reports, ISM, etc) and be
flat prior and a few minutes after. Just my $.02.
Gary
There is also a futures.io (formerly BMT ) Economic Calendar. Click "Quick Links" and it is there.
Mike
October 7th, 2010, 01:46 PM
Near Dallas, Texas, US
Experience: Advanced
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Broker: ZenFire
Trading: CL
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Big Mike
There is also a nexusfi.com (formerly
BMT ) Economic Calendar. Click "Quick Links" and it is there.
Mike
"Linkified":
Economic Calendar - [AUTOLINK]Big Mike Trading[/AUTOLINK] Forum
Gary
Last Updated on October 9, 2010