OIL INVENTORY REPORT: BEARISH AND/OR BULLISH?
Source: http://www.thecrosshairstrader.com/2009/04/oil-inventory-report-bearish-andor-bullish/Posted on Wednesday, April 29th, 2009 | In Investing Lessons, Market Commentary, Trading Lessons
CRUDE OIL had a build of 4053K. Consensus was for a build of 1800K. BEARISH (AND WAY OFF THE CONSENSUS!)
GASOLINE had a draw of 4695K. Consensus was for a build of 200K. BULLISH (AND NOT EVEN CLOSE TO THE CONSENSUS!)
DISTILLATE had a build of 1794K. Concensus was for a build of 1000K. BEARISH (CLOSER THAN THE OTHERS!)
BEARISH numbers EXCEPT FOR GAS, which is very bullish.
As usual, the trade will reveal itself later (if at all) after the initial emotions wear off. The oil market (USO, XLE, OIH, KOL) has been trading sideways but the XLE and KOL have started to break out to the upside (with the general market). Therefore, some of the coal names (CNX) and oil names (XTO) are starting to break out as well. The USO looks to be stabalizing above the 50MA and the OIH is trending toward its 200MA, taking several oil services stocks with it (SLB in particular). Trade according to your rules and you never really lose!
HELP WANTED: OIL INVENTORY ANALYST.
TRADING IS WAR. PREPARE YOUR WEAPONS.
Post from: The CrossHairs Trader
OIL INVENTORY REPORT: BEARISH AND/OR BULLISH?
Related posts:
- OIL INVENTORY REPORT: BULLISH AND BEARISH
- WEEKLY OIL INVENTORY REPORT: BEARISH AGAIN?
- OIL INVENTORY REPORT: BEARISH?
Last 5 posts by David Blair
- CAN YOU CALCULATE YOUR WILLINGNESS TO TRADE? - November 23rd, 2009
- THE THINKING TRADER 11/20/2009 - November 19th, 2009
- OVERTRADING: YOU MIGHT BE A STOCKAHOLIC IF… - November 17th, 2009
- THE THINKING TRADER 11/13/2009 - November 13th, 2009
- VETERANS DAY 2009 IN THE CROSSHAIRS - November 11th, 2009
cross hairs trader, Investing Lessons, Market Commentary, Oil Market, oil names;, oil services, Trading Lessons
 About David Blair (http://www.thecrosshairstrader.com/)
THE CROSSHAIRS TRADER focuses on the most important tool at the technical trader’s disposal: the mind. From experience, I truly believe that no trading system-or edge-will ever consistently provide profits unless the trader learns the thought process necessary to make it work. A trading system is only as good as the trader utilizing it. Get your mind right and you will trade right. |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.