CL Redux

[JoshDance]

Quote from Visaria:

Still long here. It's a long shot, odds favour it going down.

If odds favor it going down, why do you hold onto a long?

 

[Visaria]

expected value.

 

[JoshDance]

Quote from Visaria:

expected value.

Not sure what you mean, but if "expected value" is long, then aren't the odds actually for it to go up, from your perspective anyway? Either way I hope you're still long since it went up!

 

[Visaria]

yes, still long. added more, in fact.

by expected value i mean, say the odds of it going down are 70% for a loss of 50 ticks. odds of it going up may only be 30% but may make 200 ticks.

just an example to illustrate.

 

[EON Kid]

Pausing at 95 & yest Gbx high, I see 9550 to 9600 as a good first target then 100 as a 2nd target

10:30am DOE Crude Inventories est. -1825K range -4000K to 3000K prior -3406K

DOE Distillate Inventory est. 550K range -1000K to 2300K prior -105K

DOE Gas Inventories est. 1000K range -700K to 2000K prior 573K

DOE Refinery Utilization est. 0.50% range -0.30% to 1.0% prior -1.10%



12:30am FOMC Rate Decision



2:15pm Bernkanke’s Press Conference

 

[Visaria]

v much depends on numbers, i would say

 

[EON Kid]

Quote from Visaria:

v much depends on numbers, i would say

I'm expecting a good swing down, but on the larger trend the charts look bullish because my friend Clarence Beeks says so

 

[Visaria]

someone know something? you wouldn't expect it to go back to the high...

 

[Visaria]

half position took profits

 

[EON Kid]

06/22/2011 10:30 *DJ DOE: US Crude Oil Stocks -1.711M Bbl In Wk; Seen -0.8M Bbl