tag:blogger.com,1999:blog-1602023866179666640.post2520987172124888807..comments2024-03-29T16:13:18.422+08:00Comments on Create Wealth Through Long-Term Investing and Short-Term Trading: Cheap Oil Burns $390 Billion Hole in Investors' PocketsCreatewealth8888http://www.blogger.com/profile/08563834016250153049noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-1602023866179666640.post-20155308129049888782015-01-31T11:33:59.897+08:002015-01-31T11:33:59.897+08:00Kep Corp is getting interestingKep Corp is getting interestingCreatewealth8888https://www.blogger.com/profile/08563834016250153049noreply@blogger.comtag:blogger.com,1999:blog-1602023866179666640.post-6397887306056533862015-01-31T09:16:37.256+08:002015-01-31T09:16:37.256+08:00Oil rallied Friday night !Oil rallied Friday night !Siew Munhttps://www.blogger.com/profile/11468092627549905017noreply@blogger.comtag:blogger.com,1999:blog-1602023866179666640.post-48262122472848666472015-01-31T08:19:01.652+08:002015-01-31T08:19:01.652+08:00The number of rigs drilling in the US took one of ...The number of rigs drilling in the US took one of the biggest weekly dives in recent memory this week, falling by 90 for a total of 1543, according to data from Houston-based services giant Baker Hughes. Createwealth8888https://www.blogger.com/profile/08563834016250153049noreply@blogger.comtag:blogger.com,1999:blog-1602023866179666640.post-27167080014978791672015-01-31T08:13:57.819+08:002015-01-31T08:13:57.819+08:00Crude oil settled up 8 percent, or $3.71, at $48.2...<br /><br />Crude oil settled up 8 percent, or $3.71, at $48.24 on Friday, its best day since June 2012, after data showed U.S. drillers were slamming the brakes on the shale drilling boom.<br /><br />The commodity still ended the month lower, for a seven-month decline.<br /><br />Oil spiked $3 heading into the close on Friday as products were set to expire on the last day of the month and after oil companies made further cuts to capital expenditures and took more rigs offline.<br /><br />Traders told CNBC they were acting on buy signals that technicals were showing heading into the weekend.<br /><br />The number of U.S. rigs in operation fell by another 94 in the past week through Friday, while Canadian producers took 11 rigs offline, oilfield services firm Baker Hughes reported on Friday. Rig counts have been steadily falling as the price of crude collapses.<br /><br />The rig count drop was the most since 1987. With drillers having idled about 24 percent of their oil drilling rigs since the summer, some traders may be betting that an anticipated slowdown in U.S. oil production is nearer than expected.<br /><br />Two weeks of relatively stable oil prices have helped shift sentiment after months of decline, setting the stage for the violent rebound on Friday afternoon. Short traders raced to cover their positions on fears that the rout was nearing its end.<br /><br />"The rig count number sparked the rally late,'' said Phil Flynn, analyst at Price Futures Group in Chicago. Createwealth8888https://www.blogger.com/profile/08563834016250153049noreply@blogger.com