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If I am not mistaken you buy it without delivery to your location, so even if you have a big storage area you also need the equipment to get it there. That probably explains the large negative price. I can imagine a lot of private traders bought close to 0 because it was 'risk-free'. Quite sure...

Damn solid floor being built in CL :D On a serious note: I hope B1S2 did not have a position at all or only a small one like I assume with all his calls. Otherwise it will hurt him big.

I think a lot of people, companies AND brokers are in big trouble now.

CL minus 7. What??? Damn NQ, you could have called -10 :D

When I made the first post this morning about your 12$ call (made at red arrow) CL was at 14$. Looks like your 5$ call hit as well. Which means B1S2 is about 80% down on this position?

From what I heard tariffs would not work that well. First: tariffs on what product? Crude only? Then other products will be imported. All oil products? Then a lot of US companies will suffer as well. Second: apparantly US refineries are specialised in working with foreign oil, not the US oil...

Even if we don't make it to $12 exactly I think this call deserves applause. Meanwhile B1 is talking about a 'continuation' up in oil? Too bad he blocked me, I would love to hear him explain that.

Problem is: you can't solve this by printing money. Storage is a real issue and cutting back on production is really difficult so probably even the 10 million barrels reduction will not be honoured. There is no authority to solve this. Unless demand rises drastically and really soon 10$-12$ is...

Is B1S2 not posting today or did I finally make it to the club?

Turns out you are not one of those who know how to gauge peaks of pandemics. If the peak was 'well behind' in UK two weeks ago it would at least have shown in total active cases today.

Posts like this are rare, but most valuable. Would be very interested to hear what happened after the dark days, how you managed to turn it around. Did you continue and how? Took a long break? Or completely quit with size and traded pocket money ever since? Even if my questions remain...

Some nice results here today, congrats guys. For relatively unexperienced guys like me this place helps a lot. Not in signals or specific strategies but more realising there are many ways to skin a cat. And also that everybody has better and more difficult days.

This is just typical ceiling construction price action. Last 5min candle is bearish AF, don't see so many clear sell signals as this one. I love a good rally so I can buy my shorts higher. Out for petanque now.

Looking at the weekly chart it is not so weird we visit these areas to construct a ceiling ;) For me it is the first time I experience this kind of market so I keep an open mind but it is hard to believe we will not be rejected hard soon.

It's funny how this type of people always stress you should 'think for yourself'. Reminds me of a couple of regulars here that are also convinced they are so much smarter than the rest :D

It was discussed before 7out, and personally I feel sstheo is probably better of sticking to his plan: growing his account on a slow and steady pace. I would not call 2% slow by the way. Though my account is a bit bigger I also switched to MES a couple of weeks ago. With this volatility a...

I did, just closed. Though I almost never keep a position overnight, 2630 was a strong support I had my eyes on to take a long. And NQ and others here confirming my bias I thought "why not" and bought, set another limit buy at 2626 and a stop at 2619. Feels good to start the day already in green.

I found it, it was posted on march 12th. On that moment market was down -970 pts from ATH and you were -868 pts since ATH

Sorry B1S2. I did post how much you lost on the way down based on your own entries and stops you posted here. It was basically around a 1000 pts if I remember correctly. Maybe 850 or 900 but for sure at least double 396. I'll see if I can find my post on this.

I am also worried about inflation but a friend of mine who has been a trader for decades says risk is small since demand will remain lower for a while. It's one of those areas I never completely understood: production vs demand vs money supply.