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Wednesday, July 1, 2009
New Video: S&P 500 Update
How are you trading the S&P 500 right now? In this new video you will get a chance to see how the Market Club technology works and see just exactly how we are trading this market. As always, the video is free with no registration.
Please feel free to leave a comment to let us know what you think of the video and how you are trading the SP 500 right now.
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inventories,
Market Club,
SP 500,
Stochastics,
Technology
BG Group Takes Billion Dollar Bite of US Shale
BG Group agreed to pay $1 billion for a stake in Dallas based Exco Resources Inc.'s shale gas properties in Texas and Louisiana, becoming the latest European oil major to move into U.S. unconventional natural gas. The deal follows similar moves by StatoilHydro ASA of Norway and the British oil major BP PLC, who both recently acquired interests in shale gas fields in the U.S., one of the hottest new hydrocarbon plays.....Complete Story
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BG Group,
Exco Resources,
inventories,
Natural Gas,
Norway,
StatoilHydro
Crude Oil Stockpiles Drop
Crude inventories dropped again last week, though gasoline stockpiles continued to rise as refineries increased output, the government said Wednesday. Crude inventories fell by 3.7 million barrels, or 1 percent, to 350.2 million barrels, which is 18.3 percent above year ago levels, the Energy Department's Energy Information Administration said in its weekly report. Analysts had expected a drop of 2.2 million barrels for the week ended.....Complete Story
Can You Learn to Trade Crude in 90 Seconds? Just Try....Click Here
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Associated Press,
Crude Oil,
inventories,
Refineries
Oil Companies Reject Iraq's Contract Terms
Iraq awarded a BP led consortium the right to develop the giant Rumaila oil field but failed to strike deals for seven oil and gas fields as companies balked at the country's contract terms. The outcome raised questions about how quickly Iraq could rehabilitate its oil sector, which has suffered from years of war and neglect. The country relies on oil sales for more than 90% of government revenue. Iraqi officials hailed the sole award for the Rumaila.....Complete Story
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BP,
Gasoline,
inventories,
Iraq,
oil and gas fields,
Rumaila field
Oil to Rise After Averting Slide: Technical Analysis
Crude oil is set to extend gains amid this week’s volatility and may reach the $76 a barrel level last traded in mid October, said the head of Cameron Hanover Inc. The market’s ability today to stay close to the psychologically important $70 a barrel mark is keeping prices from slipping into a technical downtrend channel on the daily continuation chart, said Peter Beutel, president of the New Canaan, Connecticut, trading advisory firm.....Complete Story
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Bloomberg,
Cameron Hanover Inc.,
Crude Oil,
inventories,
Stochastics
Oil Rises Before Report Forecast to Show U.S. Supplies Shrank
Oil advanced before the release of a report predicted to show that U.S. crude supplies contracted for a fourth week, stoking optimism that fuel demand will recover as the recession abates. The Energy Department will probably report today that crude oil stockpiles dropped 2 million barrels last week, according to a Bloomberg survey. Yesterday the industry funded American Petroleum Institute said crude supplies fell by 6.8 million barrels.....Complete Story
Labels:
Crude Oil,
Energy Department,
Stochastics,
stockpiles
Crude Oil Rebounds Overnight
Crude oil traded higher overnight as it consolidates above the 20 day moving average crossing at 70.53. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near term.
If August extends this week's rally, this month's high crossing at 73.90 is the next upside target. Closes below Monday's low crossing at 68.36 are needed to confirm that a short term top has been posted.
Wednesday's pivot point, our line in the sand is 70.72
First resistance is Tuesday's high crossing at 73.38.
Second resistance is this month's high crossing at 73.90.
First support is the 10 day moving average crossing at 69.94.
Second support is Monday's low crossing at 68.36.
Today’s Stock Market Club Trading Triangles
If August extends this week's rally, this month's high crossing at 73.90 is the next upside target. Closes below Monday's low crossing at 68.36 are needed to confirm that a short term top has been posted.
Wednesday's pivot point, our line in the sand is 70.72
First resistance is Tuesday's high crossing at 73.38.
Second resistance is this month's high crossing at 73.90.
First support is the 10 day moving average crossing at 69.94.
Second support is Monday's low crossing at 68.36.
Today’s Stock Market Club Trading Triangles
Labels:
Crude Oil,
inventories,
Stochastics,
unemployment numbers
Tuesday, June 30, 2009
IEA Wary of Economic Impact on Energy
The lingering economic crisis and disputes between Russia and Ukraine create uncertainties in the oil and gas sector, the International Energy Agency reports. "The global financial crisis has turned the economic landscape upside down, with huge implications for the oil and gas sector," said Nobuo Tanaka, executive director of the IEA. Tanaka said modest recovery in prices may be a false front as reactionary increases could undermine optimism.....Complete Story
Labels:
Crude Oil,
gas sector,
IEA,
Nobuo Tanaka,
Russia,
Ukraine
Oilfield Activity May Be Rebounding
After months of decommissioning drilling rigs to balance out lower energy prices and expensive well service costs, mass amputations appear to be over in the oilfield due to a rebound in prices. However, the natural gas sector continues to drown in oversupply. The national oil and gas rig count has been slashed in half since last summer's highs. But since June 5, the number of oil rigs in production has climbed from 179 to 219.....Complete Story
Trading Video > US Dollar Index and it’s affect on Crude Oil
Trading Video > US Dollar Index and it’s affect on Crude Oil
Labels:
Crude Oil,
National Oil,
Natural Gas,
oil rigs,
oversupply
Natural Gas Renews This Months Decline
Natural gas closed lower on Tuesday thereby renewing the decline off this month's high. The mid range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near term.
If August extends today's decline, the reaction low crossing at 3.710 is the next downside target. From a broad perspective, August needs to close above 4.820 or below 3.520 to confirm a breakout of this spring's trading range and point the direction of the next trending move.
First resistance is the 10 day moving average crossing at 4.08
Second resistance is the reaction high crossing at 4.57
First support is today's low crossing at 3.80
Second support is the reaction low crossing at 3.71
Labels:
inventories,
Natural Gas,
resistance,
Stochastics,
trading
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