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Showing results 1 to 8 of 8
Search: Posts Made By: SMCJB
Forum: Commodities January 25th, 2016, 10:48 AM
Replies: 22
Views: 8,426
Posted By SMCJB
Your timing was perfect. Market was in contango...

Your timing was perfect. Market was in contango except for the last two days of the Feb contract (Jan 13 & 14). March is currently 78c discount to April.

Great points kayaktri. Contango is less...
Forum: Commodities January 18th, 2016, 04:32 PM
Replies: 22
Views: 8,426
Posted By SMCJB
Your right the market was backwardated back in...

Your right the market was backwardated back in June 2014 when they market peaked, but is in contango now. It switched from backwardation to contango at the end of October 2014 when crude dropped...
Forum: Commodities January 18th, 2016, 10:20 AM
Replies: 22
Views: 8,426
Posted By SMCJB
Great point on Bid/Ask. Re something more...

Great point on Bid/Ask.

Re something more SPY like, the reason that SPY works is because it actually buys the underlining equities in the SPX index where as USO is buying futures and not spot oil....
Forum: Commodities January 18th, 2016, 09:13 AM
Replies: 22
Views: 8,426
Posted By SMCJB
Corrections in red... I believe USO is...

Corrections in red...

I believe USO is currently invested in CLH6 and will have to roll that position CLJ6. On Friday H6 settled 3039 and J6 settled 3138 so they will have to pay 99c more for...
Forum: Commodities January 16th, 2016, 09:42 PM
Replies: 22
Views: 8,426
Posted By SMCJB
The reason they hold so many treasuries is...

The reason they hold so many treasuries is because of the 7.6:1 leverage (30.39 * 1000 / 4000) currently offered by futures. Hence for every dollar (or $30,390 using CLH6 contract value Friday night)...
Forum: Commodities August 2nd, 2015, 12:05 PM
Replies: 22
Views: 8,426
Posted By SMCJB
I'd respectably disagree. Regarding the...

I'd respectably disagree.

Regarding the forward curve representing storage costs, there's always a cost to store oil and there's always oil in storage but the market isn't always in contango.
...
Forum: Commodities August 2nd, 2015, 10:10 AM
Replies: 22
Views: 8,426
Posted By SMCJB
QM has liquidity in the first 3 months, a little...

QM has liquidity in the first 3 months, a little a less in Z5 even less in Z6 and even less in M6. There is virtually no liquidity in F6-K6, N6-X6 and F7 on back. I suspect your K6 fill was based...
Forum: Commodities August 1st, 2015, 10:38 PM
Replies: 22
Views: 8,426
Posted By SMCJB
With prompt crude trading sub $50 but long dated...

With prompt crude trading sub $50 but long dated crude trading above $60 the market is already pricing in a 20% expected move in spot crude prices in the next few years.

If you think that rally...
Showing results 1 to 8 of 8

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