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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@newstrackerEquities are flat as investors are looking forward to US job numbers to be released tomorrow with metals showing mixed performance.
- The US$ index is up with Treasuries posting new losses declining for a fifth day on the back of positive economic news released yesterday showing US services activity expanded at the fastest pace in nearly a year in Sep.
- #Gold prices are little changed today following four consecutive daily declines losing 5.8% since the start of the last week.
- #Brent prices are slightly off today after breaking the U$52/bbl level the previous day on reports US crude stockpiles fell for the fifth consecutive week.
- US #crude stock fell 3mmbbl in the week to Sep/30 versus estimates for an increase marking the first time since Jan/16 that inventories fell below 500mmbbl.
- #Copper is on track to decline for a fourth day making it the longest streak of losses since Aug as the US$ index hovers around the highest level in nearly two months.
Source: SP Angel – Morning View – Thursday 06 10 16
@PamplonaTrader@HRA-Coffin short #crude#oil because refiners drew on inventory ahead of Hurricane Matthew (anomalous event). Also, even with the massive draw, price failed to hold gains. Having said that, I am out of the trade before next week's EIA/DOE inventory. I am expecting another draw given petroleum cargoes are being delayed by up to 4 days due to the hurricane.
@PamplonaTraderLong #crude#oil, closed position in $DWTI and just bought some $UWTI. Yesterday, Genscape estimated a large 2.3mbbl draw. Plains All American 450kbd pipeline outage being a large factor.
@PamplonaTraderlong #crude#oil is probably a good trade here with inventory tomorrow. Oil selling today on Iraq protesting production estimates, Norway refusing to join OPEC talks, and Russia reiterating freeze but no cuts. Seaway pipeline leak probably results in cushing draw. Genscape estimated 1mbbl cushing draw yesterday.
@Goldfinger$Crude$oil chart doesn't strike me as bullish despite all the bullish talk from commentators: http://cdn.ceo.ca/1c9hsqf-WTI_2.6.2017.png+ $54 has been a tough nut to crack and there are mounting signs that buyers are becoming exhausted, meanwhile $52 is the big downside support. Decisive break below $52 and I envision a larger move lower to test the 200-day moving average.
@nicholaslepanFTSE 350 Mining Index climbed this morning led by better than expected Rio Tinto results $RIO.L and gains in copper names.
- #Copper is up nearly $100/t on the back of the news Escondida workers are preparing for an indefinite starting tomorrow with the Company saying production would stop should the labour action be launched.
- #Miners are demanding a 36-month contract which would include a 7% wage increase and a 25m peso “end of conflict” bonus; whereas BHP has offered a 48-m#onth contract, no wage increase and a 8m peso bonus.
- #Gold is on course for a fifth consecutive gain following stronger investments in gold ETFs.
- #Brent is weaker extending its losing streak to three days amid reports over increased US production and a build-up in inventories.
- #Crude stocks are expected to have climbed for a fifth week with government data due later today.
- #Iron ore continued to recover losses recorded in the first two days of trading post Lunar New Year celebrations.