The NDX-100 opened slighty lower only to rebound a few points ending 0.21% positive. Today´s trading environment was extremely boring with very little volatility. Our strategy did not perform well today, we lost 20 USD. On the economic front, Retail Sales came worst than expected shadowing Citigroup´s good earnings report as well as a great Empire State Mfg survey release. WTI traded 0.17% higher, but an interesting note was published by CNBC, “Oil prices should be about half of today’s $105 a barrel by the end of the year, Gulf Oil CEO Joe Petrowski predicted on CNBC on Monday. He stressed on “Squawk Box” that this trend is mostly on the supply side because record amounts of oil and natural gas are being produced in the United States and in Canada and OPEC supplies are higher.” Lets wait and see…………
Today´s Profit USD (20) (Portfolio Size: USD 25,000)
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- The Reason Gas Is So Expensive Is Because Of America’s Crappy Railroads (businessinsider.com)
- Oil Prices Converge as U.S. Bottlenecks Ease (businessweek.com)
- Oil Prices: Why West Texas Intermediate (WTI) Is A Short (etfdailynews.com)