Best OiL Trading

A return to the 10-month high of 75 dollars a barrel hit recently looked increasingly remote after the EIA reported a 100,000 barrel increase in U.S. oil inventories. Inventories are about 15% higher than they were a year ago, while demand was down 0.9% in the four weeks ended Aug. 21, the department's EIA said. Analysts had given an average forecast for a 600,000-barrel drop, according to a Dow Jones Newswires survey.

I had a decent trading day extracting more then 70 pips on the EUR/USD currency pair, fading minor moves early in the morning. I am keeping by big short position on Euribor Futures and I am slightly off the money on those. But I am sure that if I am patient enough and if I can sit tight on these contracts I will make a killing, sooner rather then later.

I have also opened a very moderate S&P Futures short line as I perceived the market internals to be soft today. I am short at 1025 and I expect this position to return to profitability tomorrow.

Today I will begin watching the 5th season of my favourite TV series, Entourage. I bought the DVD and I will watch one episode a day before going to sleep. Me and my wife are big fans of Vince, E, Drama, Turtle and their easy lifes. You can visit the TV series official site here. For those who are not familiar with the series, I highly recommend it. You will have the time of your life watching these 4 guys cruising through life.

Oil Trader`s Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage.