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Hmm, the bond market being much larger than the stock market, it's hard to believe there would not be a counterparty. Anyway, I've always traded the front month, so this is all new for me. Speaking of which, why would anyone want to trade a back months anyway? They're illiquid and you most...

I agree, and I've stated earlier in the ES thread that contango is borne out of desperation.

Was there a need to quote me for this? :rolleyes: BTW I would think they were referring to the "carry cost" involved in storing CL which would have effect on the rollover.

Those lag-tards. :vomit:

The spread between the Front month and Spot will diminish to the point of being almost identical at expiration. (Otherwise, everyone will exercise to take delivery to pocket the spread.)

What recovery? Ohhh, that recovery.

I'm not entirely certain but for futures that trade on quarterly cycles, like ES or ZN, I think you can only trade the FRONT MONTH.

ZN, maybe? But then again, 10-year note was trading above 137 all day so I'm not sure.

Short 69 SL 81.25

I'd wait about a year and start scooping up cheap properties, especially multi-family units, and rent them out HUD for life. It's a no-brainer.

That's why you should have a backup broker, just in case. Better yet, don't trade with TOS/Ameritrade. From what I hear, their execution is the worst in the industry. Their futures commission is definitely the worst.

Thanks to all those who are storing the oil on containers. Last time I've heard, tanker rates doubled recently.

I'm pretty sure it went up more than 5% last night, only to give it all back. My price target for CL is 17-ish. So expecting more selloff in the coming days.

ES finally closed down today. Looking for the bleeding to continue tomorrow with the LOD at around 2640. Also worth noting is that the "island" formed on the previous day. Not sure if that really matters but...

On the other hand, as expected, CL took a beating. Market looks pretty grim for the holders of black gold.

As long as you can handle all the ninja back flips :finger:

Out be

Short 50

Out 46 +7