contango is officially over for hou.to if you want to make some speculative plays on crude.

I would suggest waiting for a solid support for the july contract and try to ride it up to 85 or even 90 dollars. I've been watching the oil inventories and if the trend follows, next week we should have a deficit inventory with respect to this week. This should be a nice push to rally prices higher. Plus you always have sesonality as a hedge if prices drop a bit. I would wait for a solid support. we may see july adjust to 75 or so, but i don't really see it going lower then that.

Does anyone else play comodities with etfs?

There's so much market manipulation in the commodities markets...

quote:

Originally posted by Dr. Z There's so much market manipulation in the commodities markets...

i completely agree. last week we were heading to 90 a barrel oil now we are looking to break 70 downwards.


crazy stuff. Wish i shorted it or played inverse

Now everything shits. Damnit.

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quote:

Originally posted by rabbitjoker Now everything shits. Damnit.

Pretty much.

Only thing in the green today was some resource stocks like ABX and one financial company POW

I hope next week is not a repeat of last week.

Definitely time to do some shopping. A few things are coming into price points that I'm comfortable with.

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quote:

Originally posted by rabbitjoker 13-05-10: Long on GCE @ $6.10.

Hah, I just sold that last week. Still holding WTN, it's been outperforming GCE (for once) and an upward correction seems due soon.

quote:

Originally posted by Nrg2Nfinit contango is officially over for hou.to if you want to make some speculative plays on crude.

I picked up some of this today. Sub-$7 seems like a bargain to me.

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I want to buy a stock. I've been investing for almost 2 years. But I am still a beginner. I've been out of touch with the market for the past 6 months.

what do you guys think of Agrium(AGU)? or the firtilizer sector in general?

quote:

Originally posted by DigiNut I picked up some of this today. Sub-$7 seems like a bargain to me.

i think you should be alright. The july price may decrease a bit to try and match previous prices of the june contract (since it will be the primary contract traded soon as delivery june is comming up), i don't see it going below 74. I will wait til monday or tuesday to get my third position. The eia storage report comes out wednesday at 10:30 am, you should keep an eye out for that. Although its not a casino like the eia report for natural gas on thursday, it does have some effects if there is a storage deficit or surplus from the week before.

you can see the report here (you'll have a countdown to this weeks storage numbers on wednesday morning):

http://ir.eia.gov/wpsr/wpsr.txt




and just browse the eia website to see historicals. It seems like we are trending down in storage and may begin to have draws which should drive prices up. Im betting my third position that this week will bring a draw.


You can track crude futures here:

http://datasuite.cmegroup.com/dataS...cted_tab=energy

our net asset value per share is fully tracking july now (HOU.TO). This is realtime so you can match it up with your brokerage to see immediate leveraged results on your etf.


Lets just hope the market picks up again, the US dollar weakens and euro strengthens. This always seems to give oil a boost.

Monday morning going to be a nightmare

COS-UN.TO is something i've had great faith in. However, i haven't seen much of that faith come to fruition lately. Their +$.15 to $.50 dividend is coming up at the end of the month. So hopefully we'll see a swing in the price by then from people buying for that raised dividend. However, the price of oil has really affected it's upward movement.

What are other people's thoughts?

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quote:

Originally posted by jester Monday morning going to be a nightmare

yes just look at the hang seng's dismal 400 point drop lol


the red sea of asia.