Light crude....

[Russ]

There's resistance at 421.50 which it almost got to today (421.40) before coming off again.If it gets through that it should move up quite strongly.

[barry_1]

Americas oil inventories are falling,the hurricane is likely if it wanders that way, to make landfall on Monday in Louisianna .It is not a certainty where it is going....Besides that the oil rigs in the gulf are on standby for evacuation,the coast has the majority of the refineries where oil is refined from other regions of the world,so the impact can be far greater than the 25% locally produced oil!....To take a leaf outa HDK,repetitive post"oil will stay high this weekend"....to add to that there is a three day weekend in America and traders dont want to be caught short....BEWARE if things dont pan out in the expected way prices might rapidly decline next week....How ever SOL is coming up to their Finals and the year has been good ,it produces a great deal more than oil,but its price is usually only judged on the oil price....THE ACID TEST IS OF COURSE PROSPECTS for next year,which in my opinion would be excellent....From a short term trade there might be a lowering in price temporally on from Tuesday,i might sell half my warrants before then.

[DF]

423.00 A close above this level will be great....

[Russ]

Oil off quite a lot as figures for the supplies of natural gas come out higher than expected.BUT,the hurricanes are coming.Things could get interesting in the next few days.

[barry_1]

Thanks Russ and DF for the input.Tomrrow i'll update my with latest info.

[DF]

Thanks for the news every day Barry....don't always have the time to do research. Saw Gustav briefly on CNN and really looks interesting.... Well, at least my Sol warrants only expire in Jan'08 :-) Only problem sometimes is the time value of money ;-( What do you guys think of the following : 1. Lets say you have got a couple of bucks to do proper warrant trading. 2. You do your general research and if the probabilities are in your favour you buy with lets say only 20% of portfolio. 3. Always be happy with small profits +-10% or so 4. In cases were share goes against you, and that is my real question : how dangerous is it to average investment down (every time with 20% - you could average 5 times down) and lets say you don't trade warrants that will expire soon. Sorry about all the questions but what is the best buy and sell indicator for VERY Short term trading (Warrants)? I use Market Web and must say the ROM indicator on a 3 to 5 day average plots a very interesting graph on Buy & Sell signals. I then use it togeter with the Stochastic indicator. Would appreciate any views...

[DF]

Barry, just to show that I sometimes do read artcles myself : Check following out under Company News : Sasol to proceed with one CTL project in China . Probably won't have an effect on short term trading but interesting....

[#8]

Hmmmmm...very interesting action in the oil pits and forex markets today. If Gustav gets anymore gusto we may see oil take out 120 tomorrow in a blink as none of the okes in the oil pit would wanna be short over the weekend. Gold displaying the most bullish behaviour I've seen in months....despite being way off it's highs, it still ended well up DESPITE stronger dollar and oil getting walloped..under the same circumstances last week, it would have been klapped below usd800 in a flash..interesting indeed!

[#9]

Interesting observation dinen, we will see how this pans out.

[YNWA]

Good one Barry.....shades of '05 & '06 SOL Train!!....couple of sites for all you storm watchers/chasers......http://www.hurricanehollow.org/..........http://www.nhc.noaa.gov/refresh/graphics_at2+shtml/203113.s..., not a good time to be a grease monkey in the pits come Monday.....half hour before closing bell and until the "machines" wind up on Monday these boys are gonna be wrecks!..Adios

[barry_1]

thanks i'll try them,at the moment i only use hurricene centre,their maps arn't very good....without power most of today,eishkom doing their thing again....Bush sidekicks promptly making promises to release stocks from the national reserve,if a shortage develops(u know there is an election coming up)sent prices of CLFs for Oct down again and new regulations making the oil platforms more hurricane proof making them feel safer....also Gustaf is rather further south than most destructive hurricanes in the past....However it must be noted nothing can protect the oil pipelines that deliver the oil to the mainland....also any oil removed from the stragic reserve has to be replaced ,if i remember correctly within 30 days....IT MUST BE NOTED that the price has not plunged all the way down to under $110 but the the CLF for OCT stands now at $115. ...Can fo either way now.

[barry_1]

theres astorm a coming.....

[#13]

Mayor Ray Nagin orders New Orleans evacuated, calling Hurricane Gustav "the mother of all storms."