CL Redux

I knew the bulls would grind the market up in the AH but I didn't know their grips would be pried open so easily. As I write, we're falling off the cliff going right back down to the low at 81.60 made earlier last night. At this rate, I'm hopeful that we hit 80 sometime today
 
Quote from usman88:

I am expecting the market to drop towards $80 within the next two days. Entered shorts in Feb around $83.20 with stops at $84.60 and Targeting $80.10.

The upswing today was expected but I wasn't expecting this much. What I had in mind was a max swing till $82.70
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Quote from usman88:
I am expecting the market to drop towards $80 within the next two days. Entered shorts in Feb around $83.20 with stops at $84.60 and Targeting $80.10.[/B]
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Just exited at 81.00 for 220 ticks profit per lot
Although it can drop to 80.30-80.40 region I am not willing to risk my profit
 
@All Shorts

I am expecting a upmove from here till $82.00 which if breached can lead to more upside. If I were you I would be cautious and place a trailing stop around $81.60-$81.70
 
Both 80.60 and 78 are possible IMO. But I don't believe the real slide has yet to begin. I'm fully pricing in 75 by the end of the week.
 
The bulls amongst us are trying their damn hardest to push themselves up by the bootstrap. But this looks about the highest they could afford to go for now. Currently at 81.60.
 
Quote from bridenour:

I am planning to exit at $78 tomorrow or Thursday.
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I think it's reasonable.

We will see a big increase in oil inventory tomorrow. I didn't see many people driving last week in that cold weather.
 
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