CL Redux

Quote from InvestVision:

It seems this below 86.00 break a minute ago does not seem real , add 1 at 86
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You are interfering with my trade and interrupting the Law of the LOD with kind of talk :p
 
Quote from oraclewizard77:

I think OPEC is selling more oil right now, which is why CL has been falling. However, oil does not grow on trees, and the oil under the Arab sands is not infinite so that provides support until their are cold fusion cars.
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There is also one more source of support for the God forsaken CL.

Back then at 140 you did not know in advance that CL would go down those 100 pts. You had to make a directional bet (power to those who did).

Whereas here we have a divergence in the price of two nearly identical things that can be held until convergence to zero with high probability (which in next month borders on certainty). No guesswork required, just patience of an arbitrage trader. Reason will eventually prevail (unless we use too much leverage and get shaken out prematurely).
 
Quote from tzachi:

first short target fill
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WTG
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Quote from schizo:

When CL was trading at 140, nobody thought it could drop down to 40. Unlike ES, this damn thing doesn't have any cushion underneath in the form of a government support. Can OPEC print money?
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Once I got out of the short, I didn't exactly hope for a quick reversal but this is taking too damn long. Also it looks pretty ugly at the moment. It still remains to be seen, but I wouldn't be surprised if we go down some more.

(Anyone have the downside target? 81-ish, did ya say? :eek: )
 
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