Quote from spanish89:
K ive put in 2 sells, 1 at 119.71, other at 120.72...
Oct CL is currently 121.23x121.26 are you looking at delayed quotes or something???
9.1 Million Barrel Build in Crude Oil. Wow. Get The Hell Out.
- Thread starter ByLoSellHi
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Oct CL is currently 121.23x121.26 are you looking at delayed quotes or something???
ok... good luck. a lot of money is made (and lost) during "irrational" spikes.
Quote from spanish89:
K ive put in 2 sells, 1 at 119.71, other at 120.72...
I see it falling back to ATLEAST $118.33 today or overnight.
What oils doing at the moment is completely and totally irrational, and so when the excitement of this wears of and real fundamentals n logic come back in we will see the pull-back!
All this stuff with russia casuing the price so go up is complete n utter nonsense!! LOL
Russia invaded georgia 2weeks ago!!
If that was gna cause a rise, it would have happend then.
We saw oil prices going through the mid 25s t 30s before, and look what happend!!
Every fool who claims to be an expert kept saying 150, 180, 200!
I was the 1 shouting, no, sell off coming cos people cant afford those prices!
And look what what happend....
When oil goes above the 120s people cant afford the oil.
And when people cant afford oil, the oil price comes down.
All you now need is patience, and to hope that some actual fundamentals come back into the market.
I guess you've never heard of the trading axiom . . . "What is OBVIOUS is OBVIOUSLY WRONG."
Im only at £1 tick on the 2 trades, since i already withdrew £3,300 from my account lastnight to pay for my new apartment rent.
But so now i can sit back and relax, since all i now need is for; oil to fall below 120.21 'before' it goes back above 130, and i could break even.
But im still thinking we will see lower than 119 soon.
But so now i can sit back and relax, since all i now need is for; oil to fall below 120.21 'before' it goes back above 130, and i could break even.
But im still thinking we will see lower than 119 soon.
Pretty foolish statement that... LOL
Because if you go by that as your trading motto, when oil inventories come out with over supply, the obvious thing to do is sell.., which all the traders do every wedensday afternoon if we get on over supply...
But if you follow your motto you should be the 1 who would buy!
Look at it this way... If you did the obvious (sold after inventories) yesterday morning you would have made $1.5 - $2.0 tops (assuming you covered at the lows). If you instead bought after the "obvious" drop and held through today you would have made 8+. Of course, if you held on since yesterday's "obvious" short, you are hurting pretty good right now.
It really depends on your time frame. I sold at the number. Covered immediately thereafter. Just like any technical analysis and numbers over any time frame can be skewed to fit almost anything. In retrospect, with todays action bad call. At the number it looks like he is right. Goldman sure doesn't feel the same. It really depends on time frame of the trade though. If you enjoy holding three point wiggles in Crude more power to ya.
Quote from spanish89:
K ive put in 2 sells, 1 at 119.71, other at 120.72...
I see it falling back to ATLEAST $118.33 today or overnight.
What oils doing at the moment is completely and totally irrational, and so when the excitement of this wears of and real fundamentals n logic come back in we will see the pull-back!
Hi Spanish,
The market can remain "completely and totally irrational" longer than you can remain solvent.
I'm glad, though, that you're not trading the big contract, but a fraction of it through a bucketshop.
I normally end my posts with "best trading", but in this case, I think that "best luck" would be more appropriate (no offense).
Jorge