Blow Off Top Tonight!?!

Is this the blow-off top for CL?

  • Yes it is!

    Votes: 16 21.3%

  • Heck No, CL going to 150!

    Votes: 30 40.0%

  • Maybe due for a slight consolidation period here, before gradually going higher!

    Votes: 16 21.3%

  • Who knows, I have been so wrong on CL, I have given up trying to figure this asset out!

    Votes: 13 17.3%
  • Total voters
    75
excellent time to do options

a. bull call spread or bear put spread
b. Buy calls and puts in a1 to 1 ratio .. the volatility at this level should alow you to profit
 
Buy USO puts for October and capture the BIG MOVE DOWN for reduced risk, if you feel like increasing your risk, buy July/August USO puts.
 
Quote from jaytrader100:

excellent time to do options

a. bull call spread or bear put spread
b. Buy calls and puts in a1 to 1 ratio .. the volatility at this level should alow you to profit
More...

did you put one of these trades on? I am analyzing it but I wish options in oil ETFs were more liquid
 
We are off to a nice start Oil off 3 bucks, and NG inventories had a nice build. Eventually true fundamentals of high prices make markets correct with all bubbles from housing to gas===i.e., Ford changing vehicle strategy from larger gas hogging SUV`s to more fuel efficient crossovers and smaller cars.
 
Eventually we will have a streak of down days with these funds unloading big time, the point is when.

My guess is after the beggining of summer we will start to see some of this downside, who knows which will be the high 135, 145, 150?

Another thing that we have to watch is that when all the newbies and morons start to feel free to give targets easily is when we are close to a short term peak... and we saw a lot of these morons giving targets all this week..

Volatility is the only think that it will be there for sure, the rest is just a guess..
 
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