5% - 10% profit per day trading

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Quote from usman88:

this is the best time to go short and earn 50 cents min.
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I agree 100% with you .. infact I did it little while ago for these reasons

a) Europe stock markets are trading down so upside for US mkt when open is not very high

b) middle east is progressing for better
c) US stockpiles are going to be up ..
c) I do not want see this oil price drop with out my short , I lost good amt. when I closed my short too early yesterday .. want ed to cover some losees
 
Quote from spanish89:

It broke 48.26 overnight, but couldnt make it down to .46 and it bounced hard from 47.62 so shows tehres alot of buyers waiting there to keep buyng this all the way up till all the russia/ukraine stuff is over.
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I posted my short comments in previous post.

I do not know how much this Russian conflict can take the price above $49 .

I just went short with the worry of oil dropping with out my short in place ( as we all lost good when closed short early ). If it remains at these 48.70 levels that is OK with me , but I do not want to see price drop with out my short ..
 
http://www.forbes.com/feeds/ap/2009/01/07/ap5888548.html


Last Wednesday, the EIA said for the week ended Dec. 26 crude oil inventories rose by 500,000 barrels to 318.7 million barrels; gasoline reserves rose by 800,000 barrels to 208.1 million barrels; and distillate inventories rose by 700,000 barrels to 136 million barrels.

Analysts had expected crude reserves to drop 1.75 million barrels.

After that report, prices for crude rose $5.57 to settle at $44.60 a barrel on the New York Mercantile Exchange.
 
12-22-08 01:54 PM , the Mar09/Feb09 ( long/short) crude oil spread is $3 => $3000

I am referring my old post here for my own record purposes.

http://www.elitetrader.com/vb/showthread.php?s=&postid=2233090#post2233090

I foretasted this Mar09/Feb09 ( long/short) contract spread will increase towards Feb09 contract expire which is JAN 20 th.
- the reason at that time was mainly ( before middle east issue) oil will further drop
- It is interesting even oil spiked due to middle east issue still this spread today is $4500 ( $4.5 x 1000 ) dollars giving 50% profit on original investment of $3000 with very minimum risk for 20 days wait period ..

today Mar09 oil contract : $52.75
FEB09 contract : 48.25
 
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