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Analysts still have those silly S&P 1500+ year end predictions, talks about bottoms in the financials AGAIN, and contrarians blabbling abou there being fear out there. A 25 point drop in the S&P after an up day yesterday is not fear. Until you see a washout day on huge volume with real...

For NYMEX CL, there is decent liquidity for the futures out to Dec 12. Even Dec 13 and 15 have a decent amount of liquidity. There is really only liquidity in the December contracts beyond 2008. You can trade these electronically without much of a problem. For NYMEX NG, you are out of...

Today seems to have been a key reversal day for crude oil, I've been very bullish on crude oil for the past several months, but the price action over the past several days tells me a short term top is in place. I don't see $150 crude by July 4, as one analyst predicted. We'll probably be lower...

Bernanke's tough inflation talk got the dumb shorts to cover their dollar short. Now the dollar is giving back almost all of the gains from yesterday against the euro. There will be no rate hikes this year, since bank stocks are down and he doesn't want to crush them to stop inflation.

Its a good strategy except at the top, but I don't think we're close to the top yet so it works for now....

I don't think its a bubble, everyone is still very anchored to cheap $2-2.50 corn, $3 wheat, and $6 beans and can't deal with this move as being rational. There was always ample supply but with a growing population and greater demand for meat in the 3rd world, and higher fertilizer and fuel...

Stop would be $129, target of $146, risk reward ratio of 2 to 1. Odds of it hitting $146 before $129 are higher than 50% IMO.

Exactly. That's why I call oil the king of commodities. It is a nonrenewable resource which is the basic building block of economic growth. Gold and other precious metals are non renewable but not necessary for economic growth or prosperity. Industrial metal supplies are shrinking but still...

He talks tough on inflation, says the Fed wants a strong dollar (don't we all? LMAO). Yet he doesn't hike rates. There is no way he will hike rates. Here's a guy who got pushed around by a rogue trader into panic cutting 75 bps because the futures were lower. Bernanke is a pushover and...

Look at the AAPL or RIMM chart, those are overextended, how about the charts of POT and MA? Those are extremely overextended and I don't see too many top pickers shorting those names. But a lot of speculators are trying to pick this top in crude, which is baffling considering how strong the...

People are consumers, they don't like higher prices on goods unless they are buying something like Gucci or Rolex. So when crude oil is raging higher, it is natural for people to root against the market and hope that it goes down. Unlike stocks, where the majority of participants are rooting...

EXACTLY! I have been a raging bull on oil over $40 lower and people acted like I was a lunatic or clueless. But I will say that this action is signaling that an intermediate top is around the corner, the volume was just massive today, a fair number or shorts threw in the towel today...

That stop can't get hit today, limit up would be $137.89 for the front month CL contract.

There is no way the shorts are going to sit on this volcano of a position heading over the weekend. Don't be surprised if we see some headlines next week about a trader/firm having blown up being short crude through this parabolic run.

Anyone sneezes about anything even remotely bullish on crude and it shoots up $8! Sickest bull market in the 2000s. I don't see shorts throwing in the towel until we have BACK to BACK limit up days. That would be almost $150 if we limit up today.

Heat seeker looking for limit up at $138! SICK. The sickest bull market.

I hope you like brie and it ain't gonna be easy to find Johnny Depp. LMAO. Watch for a huge gap up again on Monday as the funds who were short cry uncle.

good luck to you, I have a feeling today is a gap and go day, I don't think traders want to be short over the long weekend with crude at an all time high.

The implied vol must be through the roof, those CL puts must be mighty expensive. I don't see how you can make money barring a catastrophic collapse in oil, which I don't see happening from these levels. Maybe if we were at $150, but not now.

Get your popcorn and take a seat. You are watching history, the squeeze of the century is happening, shorts are getting gutted here, unreal.