Member Info for kenniGT

Why to be careful? Most of the people here are long term.
You and Feerat are keep posting 'be careful' as you trading in and out....

It is another overblown news pick IMO. Like on 14th of May.

Why? As traders thinking process is simple as a stick.
Problem in Hong Kong - sell

LoL what a nonsense from the news:

''Oil prices were set to break the longest winning streak since February on Friday over worries about China growth and fresh friction between Beijing and Hong Kong.''

Who cares about Hong Kong and China frictions?

Oh sorry, you were thinking about drop from yesterday... yeah, we know it is 5% down.
What I am saying it found support and looks like it is slowly bouncing back.

Brent CFD
8am 32.90
11.24am 33.25

If you tracing 5min change than you can pick and choose it if is going down or up...

downbutnotout at the moment oil price is going up

Sp 30.35

Ferret so we have different approach at the moment, that is fine.
I just think it is not worth to risk missing the bus while out, waiting for drop.

TheCashFerret I will play like you when it will be 80-100p.
Now we have historic lows due to cv19 and it is more likely you will miss massive raise trying to make 2-3%.

Here is the long term view at oil chart. Correction had to happen at some point, nothing raises for 3.5 weeks without correction.
https://ibb.co/yf92GdC

Ferret if you play short on daily basis you are looking for any news trying to predict daily reaction. Not easy and we know it will be bumpy ride. But if you long, daily drama does not matter much as at the end we will get back to normal.

Brent futures 34 is not bad bearing in mind how quick it was raising last week.
Week ago it was 29.

Brent futures 36.98

Amazon, Apple, Tesla all were shortened and it changed nothing.
If I understand shorting correct. You first need to buy shares for lets say 100p, sell them at high price, later buy them back at lower price and return them. Correct? So for HK monkeys to close short they need to buy lots of shares and this equals SP raise. And if they want to keep short it changes nothing to SP, just some guys made a deal and need to close it some day buying back the shares and returning them to deal maker. Correct me if I am wrong please.

I do like this slow progress rather than jumping up and down.
Hopefully re-rating is coming and PMO will start returning to pre crisis levels of 80-100p.

oil is on fire today, both wti and brent

on crude attack again ;)

https://www.marketwatch.com/story/eia-reports-second-straight-weekly-decline-in-us-crude-supplies-2020-05-20?mod=mw_latestnews

Quick bounce :)