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)
Slow selling with dead cat bounces of no more than 25 ticks in between is a CLEAR SIGN to stay the course. I covered at 46.10 before NY open and then after 30 minutes reshorted around 46.11. When will i get completely out? Whenever there is a FLUSH DOWN and then reversal of that FLUSH DOWN.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
London Close at 11.30 am eastern time plus upcoimg lunch hour plus CL down 3.5%- i wll not be surprised if CL chops around for next hour or so.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
I am sure you all are aware of this but just in case, until 3/29, london close is at 12:30 ET. We move forward first week end of March and London does it the last week end of march. Similar situation when we fall back.
I think Zerohedge is rather bleak in its outlook of life and seems to be continually predicting the end of the financial system but I thought you guys might appreciate this article. It claims to reference a Soc Gen piece but extensive Google searching has been unable to find said article
You need to understand the economics of the floating storage play, Soc Gen says.
It walks through the costs of floating storage and makes an argument that prices need to be a lot steeper for it to work. There's what appears to be a nice diagram illustrating this but it's almost unreadable.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,059 since Dec 2013
Thanks Given: 4,410
Thanks Received: 10,226
Interestingly when searching for the Soc Gen article I stumbled upon a plethora of other articles saying the floating storage arbitrage is closed and nobody is doing it.
The floating storage play eyed by oil traders around the world earlier this year has failed to materialise in any significant manner because of a narrowing of the contango in Brent-related crudes.
Of around 42 VLCCs taken on time charter earlier this year with options for floating storage during the contango driven demand period, only four were confirmed to be doing floating storage in Asia, a VLCC broker in Singapore said.
A London-based broker put the number of VLCCs being used for storage at three. "We have been tracking these ships very closely and, as far as we can see, the DHT Falcon, the Eliza and the Alsace are the only VLCCs being used for floating storage".
The world’s biggest oil traders rushed to hire supertankers at the start of the year. The idea was to buy cheap barrels of crude, store it at sea and lock in a profit by selling contracts in the futures market. But only a couple of the almost 40 vessels originally chartered to hold crude offshore for up to 12 months are doing so, shipbrokers and analysts say....
I had no idea there were wheat options in 1909, I knew agri derivs have existed for centuries but actual listed options back then, wow. Surprised livermore didnt leverage up on these.