Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Gotta love it. Right on schedule (well actually a little late) Saudi starts dropping production as the serious traders say they do every winter. Initial report was it was in response to decreasing customer demand. I think it is called winter. Anyway you all saw a tweet from Wall Street Journal announcing that the Saudis had cut production and were in compliance with the new quotas. The algo's missed it. According to Zerohedge they had to run the same story three hours later from a different agency to get the algo's to take the bait.
I say all this just as a piece of on going proof that Saudi has mastered the fake news method of manipulating markets. And like all half truths eventually the full truth will come out and the 28 year old hedge fund geniuses will eat it big time.
Well, the whole scenario has worked out nicely for now. Was happy before, very happy now!
My feeling about taking that trade at VWAP is to be very careful if we're passing through in the direction of the current trend. If we're retracing, I …
may lack the sophistication of a crude oil analyst, we definitely trade crude. On whole, I would say we are more technical/price action traders than fundamental traders, but we haven't met good information we didn't like. Feel free to join us any time.
US crude oil production averaged an estimated 8.9 million barrels per day in 2016 and is forecast to average 9.0 mbd in 2017 and 9.3 in 2018 (+100,000 2017 +300,000 2018)