CL Redux

I don't believe we'll get much retracement today. Even if we do, it will be minor. My feeling is that we'll probably chop for the next couple hours and then rally into the close. That being said, shorting just ain't worth the trouble at these levels even though CL looks overbought.
 
Quote from schizo:

1-lot short at 80.40

stop 80.66
Target 79.96 (we'll just call that 80 :))
More...
Yup, shorting is a loser's biz today. Maybe I shoulda taken my own advice to heart. :(

That pretty much sums it up for me today. Later folks!
 
Not quite sure what to make of today's price action. We ended the day with an engulfing candle pattern. But when it occurs at the TOP, is that considered bullish or bearish?

Also it's selling off with the rest of the equity markets and the dollar in the AH. It looks tumultuous for both bulls and bears alike for tomorrow.
 
Quote from schizo:

Not quite sure what to make of today's price action.
More...

Either the oil traders have no idea what they are doing, or they are intentionally manipulating the market.

That conflicting response to inventory report may be an indication of their cluelessness.

Is the report a good one?

is it bad?

I think it's bad, let's sell.

Oh no, someone is buying, maybe the report should be considered good. Let's buy.

Wait, they stopped buying, let's sell.

Oh no, they are buying again. Let's cover.

What? they are selling after I covered?
 
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