Betting on mild weather, record Thanksgiving driving, leading into Christmas. Attractively low priced gasoline. Thus, buying the unleaded gasoline RBF2020 at the market. A buck sixty is darn cheap!
And gasoline is kicking heating oil's butt today. Buying gas in front of the holidays with nice weather. Am I using weather info to trade correctly? Is this how one, "dials it in"? I'm getting a busy signal!
AAA estimates that more than 55 million travelers will venture at least 50 miles from home this Thanksgiving, the most since 2005 and the second-highest number since AAA began tracking in 2000.
This year's projection for Thanksgiving travel, defined as the five-day period from Wednesday, November 27 to Sunday, December 1, also marks a 2.9 percent increase over last year.
Gasoline going to $8. Buy and hold. Good for you!!!
total petroleum inventories down ~20 mb m-om and for some reason distillate inventories are now 10% below the 5 yr average .. that will soon start driving the price of diesel and fuel oil up accelerating inflation with most of our goods moved by truck at some point in the cycle of getting goods to customers and the need for heating oil this time of year . It has probably started driving those prices up already with more to go with that 10% deficit
"We have discovered a 1980s pattern on Gasoline ( RB ) that is strikingly simalar the recent candle action on 1W. We are rather puzzled though as to which point of the 1980s sequence we are currently at.
In 1980s the Golden Cross (MA50 over MA200) emerged after a Double Bottom . Currently we are past that Golden Cross and the price is approaching the last low on a sequence bearing many similar characteristics with the old pattern. This leads us to believe that the Golden Cross is irrelevant on this pattern and that the price mostly follows the trend of the 1W MA50 into similar benchmarks of the 1980 pattern.
For that reason it may be viable to start taking long positions with a projected Target Zone of 2.5000 - 2.8000."