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i dont see anything bearish at all I was short crude and threw in the towel yesterday if anything this looks like its going to move higher We have one solid week of nonstop jawboning to lower crude, and nothing has worked Short squeeze coming, watch

wow, closed all my shorts lets see 1) nasty daily candle yesterday 2) 2 weeks after that huge daily spike (which still has not had a significant retracement IMO) 3) govt intervention in position sizing 4) saudi conference 5) even the president of iran saying oil is overpriced BUT...

if we go below 130, then maybe we got a correction on our hands 131 to 140 has just become noise

I dont get it.... why not wait for a retest of 18 or a test of 16? why buy here?

sweet, i love spin! well, 8% is still demand destruction. 20% when oil is at $200 hehe

well, my spike high candle is uncandling itself, lol sit on my hands time

perhaps, but you have to agree being wrong with 1:1 leverage really is a lot less painful

thats what 1:1 leverage and stop losses are for muhaha

is corn going to make me a spike high daily candle already? my platform only draws candles at end of day hehehe

wow thats the beauty of the point how can you miss it? if they are so used to high gas prices, why did UK drivers cut back 20%? surely they would just pay the high price and behave exactly as they did previously? point is they didn't.

yeah im patient, doesnt matter to me if its in 2 months at $15 I'll wait....

waiting for "spike high" candles on the dailys and or weeklys for corn this thing will at some point retrace like a mofo.....

walter4, read this article http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/11/npetrol111.xml

And the best part, its with those "Europeans who happily pay $8 per gallon" Read what BS the claims about the happy europeans driving happily at $8 a gallon logic is. 20% demand destruction.... its here right now...

I dont daytrade, thats why this sucks even more. I was thinking that oil was overdone, and maybe a few weeks of calm would occur after last friday. But this week has been equally as chaotic as last week. IV is through the roof. I have no idea where oil is going thats for sure. Like i said...

5% daily swings seem the norm now talk about a lot of hot money flying around in this thing insane I dont know how anyone can trade this thing. Even the options market on this thing is insane, huge spreads, no bids or asks, and just moving all over the show I hate oil. hehe.

are you going to spam your reply onto every thread on ET? we get it, you are long oil.

what do the tea leaves say?

those are his stops on USO maybe? lol

the Oil guys and speculators are actively seeking that pain point. Every time oil goes above where the world is supposed to end and nothing happens, they push it higher.... I honestly thought $100 oil would be a major problem, i was wrong.... maybe the pain level is much higher, maybe...