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Killed my bid. Just working the offer on the retest.

Bidding 85.99 and offering 86.79 w/ tight stops.

Nice squeeze

Choppy start.

derp.

Long 85.10 w/ 11c stop.

Out at .35, looking to reposition.

Also long 8525, bottom looks in.

Speaking from experience, refine your system: be more selective in the positions you take and maintain your stops. Sometimes not trading is trading.

Two different groups of data.

NOTICE: Due to delays from Hurricane Sandy, the Weekly Petroleum Status Report will be released on Thursday, November 1, 2012 at 11:00 A.M. and 1:00 P.M. (Eastern Time).

http://www.eia.gov/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/wpsr.html

A test of discretion.

Largely a non event for WTI, might get a subdued bounce in front month NY RB and HO but nothing sustainable. The Gulf is a quick voyage for any physical shortages and pipeline infrastructure in the area should be unaffected.

What did you learn from this?

Old support became new resistance after the drop.

The Valuation of Compound Options

Some floor trades this morning: Jan 80/95 fence vs. 86.80 trades .57 1000x. Put is premium. Feb 110/115 1x2 call spread trades .09 to the 2. 2000x.

I was short 96.28 and stopped out .05 under the high before this sell off. :mad: Losses, they are inevitable.