2/27/2009
Doing Time
Let's see, five and a half hours in the crude oil session. That's 19,800 seconds. I had one trade that lasted for 67 seconds. I stare at charts for 19,800 seconds so I can trade 0.34% of the trading day.
Strange job.
At least I got paid.
5 Minute Crude Oil Chart
1 Minute Crude Oil Chart
Interesting story from the Globe and Mail on Albertans working in Iraq.
Strange job.
At least I got paid.
5 Minute Crude Oil Chart
1 Minute Crude Oil Chart
Interesting story from the Globe and Mail on Albertans working in Iraq.
2/25/2009
I Think I'm in Love
Don't tell Mrs. Solfest.
This is priceless.
Why is this woman not Prime Minister or President for that matter.
You must watch this.
No debt and 700 million in reserves, my o my.
This is priceless.
Why is this woman not Prime Minister or President for that matter.
You must watch this.
No debt and 700 million in reserves, my o my.
A Slight Tweaking
I have made a few slight adjustments to the magic blue bars as I have been suffering a major lack of magic these last few weeks. The parameters for the indicators are roughly the same but I have shortened the length required to obtain those parameters.
For example the 5 minute ATR and ADX are now a 5 period instead of an 8 period.
Barrel count today and you see the crazy price action on the 1 minute chart at 8:30 MST. That kind of price action is tame compared to how it used to act, back in the good old days.
I missed the first trade and caught the next 2, one for full target and one partial.
5 Minute Crude Oil Chart
1 Minute Crude Oil Charts
For example the 5 minute ATR and ADX are now a 5 period instead of an 8 period.
Barrel count today and you see the crazy price action on the 1 minute chart at 8:30 MST. That kind of price action is tame compared to how it used to act, back in the good old days.
I missed the first trade and caught the next 2, one for full target and one partial.
5 Minute Crude Oil Chart
1 Minute Crude Oil Charts
2/24/2009
The Best Fight Ever
Have not posted a daily YM chart in a while, now I know why. It's just a tad depressing. Big up move today and we didn't even get back to the November lows. The equity markets are now down 50% from their highs. The last time that happened was 1931.
Like I said, depressing.
It will be quite a fight to get this thing turned around. Maybe we need Marvin Hagler to run the Fed instead of Ben Bernanke.
Daily DOW Futures Chart (click on chart to view)
Like I said, depressing.
It will be quite a fight to get this thing turned around. Maybe we need Marvin Hagler to run the Fed instead of Ben Bernanke.
Daily DOW Futures Chart (click on chart to view)
2/20/2009
The Alberta Disgrace II
Now the disgrace comes home to roost. This makes me so angry I could just.....just.....I don't know.....vote Liberal.
Yes it's that bad.
At least then I could live without the expectation of the government doing the right thing.
"The touchstone of their concern is the single largest pool of money under de Bever's control: the Alberta Heritage Savings Trust Fund. The fund was established 33 years ago to store up oil profits for the benefit of future generations. But successive Conservative governments first stopped funding it, then began skimming its profits. As of Sept. 30, it stood at $15.8 billion—20% lower than it was 20 years ago (adjusted for inflation). Now, with resource revenues poised to fall sharply and remain depressed for the next few years at least, Alberta could soon face humbling fiscal challenges it should have headed off when times were rosy. By the time de Bever has fixed AIMCo, the province could very well be mired in a full-blown fiscal crisis on par with that of the 1980s—leaving it no choice but to tap the Heritage Fund or run up massive deficits. It's hard to believe, but Alberta, the Wonderland of Canada—with its oil sands, no sales tax and debt-free balance sheet—has pissed away another oil boom." Sean Silcoff, Globe and Mail
Yes Mr. Silcoff it is hard to believe.
Very hard.
The question is how bad will it get?
Read the full Globe and Mail story here.
Yes it's that bad.
At least then I could live without the expectation of the government doing the right thing.
"The touchstone of their concern is the single largest pool of money under de Bever's control: the Alberta Heritage Savings Trust Fund. The fund was established 33 years ago to store up oil profits for the benefit of future generations. But successive Conservative governments first stopped funding it, then began skimming its profits. As of Sept. 30, it stood at $15.8 billion—20% lower than it was 20 years ago (adjusted for inflation). Now, with resource revenues poised to fall sharply and remain depressed for the next few years at least, Alberta could soon face humbling fiscal challenges it should have headed off when times were rosy. By the time de Bever has fixed AIMCo, the province could very well be mired in a full-blown fiscal crisis on par with that of the 1980s—leaving it no choice but to tap the Heritage Fund or run up massive deficits. It's hard to believe, but Alberta, the Wonderland of Canada—with its oil sands, no sales tax and debt-free balance sheet—has pissed away another oil boom." Sean Silcoff, Globe and Mail
Yes Mr. Silcoff it is hard to believe.
Very hard.
The question is how bad will it get?
Read the full Globe and Mail story here.
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