Dan Passarelli, CEO - Market Taker Mentoring

⇐click the image to view the video and then watch fullscreen to see the charts

Crude had a pretty big day today. The crude futures, the October futures were up $3.41, bringing it to $93.77. It's a pretty big day for that. The reason for that is that the American Petroleum Institute that's the API reported that US. Inventories of crude fell by 5.6 million barrels last week. Gasoline supplies rose by 268,000 barrels. Now, that's pretty bullish for crude, but this is ahead of the official inventory data from the EIA tomorrow morning. That's the Energy Information Administration.

So we're going to be looking for what the difference is between the API and the EIA. And in all likelihood, what the market believes is happening is that there's a much tighter supply and that will be reflected in the EIA information tomorrow. Now, what else is also interesting is that I've been watching some of the bigger credit spreads trade lately. There was a big credit spread that traded in Schlumberger (symbol SLB). As you can see right here, there was a big put credit spread that traded a few days ago that hit my scanner.

And so that enabled traders who saw that to kind of jump on and trade what the big folks are trading. And today ended up being a really big day, up 6.61% in Schlumberger and a big solid jump on high volume above the 200 day moving average. That put credit spread worked out pretty darn well. And as I believe you know already, we will have a webinar this Thursday night at 07:00 p.m.. Eastern time.

That's 06:00 PM. Central time, Thursday evening. That's going to be all on credit spreads. I've got a whole brand new system that I'm super excited to share with you. This is a really big deal.

It's a complimentary webinar. I want you to go and register at the page that's going to pop up right after this. So don't close your video. Wait for that page, and make sure you register for this webinar. It's going to be a really great one. <<click here if no page pops up!

I hope that helps.