CL Redux

Quote from BPtrader:



You may see 60s next week and 50s next month. Before you know, oil will be back at $48 a barrel.

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You never want to hold from 70s to the 40s, you will blow up, retail trader and hedge fund alike.
 
Quote from ammo:

support 69.30, that blue fund may have been lying, how many others are in the same boat
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Blue Gold can't take the pain anymore, it bet on the long side for warmer weather, but it hasn't worked out the way it wanted. I think it is liquidating its long positions.
 
Quote from saliva:

I'm holding only 4 lots at the moment with the average of 73.75. Hope to bail out at b/e.
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Since I won't be staying up all night in great anticipation of being knocked out cold, here's my point-of-no-return stop: 72.30. I say, bring it on.
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Just a quick update. having just woke up (I live on the West Coast), I realize that I got my fill pretty near the breakeven point at 73.71 with a few cents added due to slippage. Bad trade nonetheless.

I plan to take the day off today so I wish y'all a nice weekend. BTW what the hell happened at 11:25 EST that led to the selloff? Whereas ES looked like it was only in the midst of a chop, this baby appears to have gotten thrashed.
 
Quote from BPtrader:

Blue Gold can't take the pain anymore, it bet on the long side for warmer weather, but it hasn't worked out the way it wanted. I think it is liquidating its long positions.
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Was that the reason for the nasty selloff?
 
Quote from BPtrader:

You never want to hold from 70s to the 40s, you will blow up, retail trader and hedge fund alike.
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You might have a point after all. Keep us all in check will ya? :)
 
Quote from Speciaul_K:

I saw it cross the bloomberg that they have lost 10% this year in the drop of the crude.
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Funds and institutions have been like morons recently.

Soon after the Labor Day last year, funds piled into short positions, betting on the drop of price due to colder weather, but it went from 60s to the 80s, burning a lot of shorts.

After the coldest weather is over in January, they piled into long positions, betting on oil price going up with warmer weather, but it went from 80s to 70s, and maybe 60s next week, burning a lot of longs.

Isn't oil wonderful?:D :D :D
 
Quote from saliva:

Just a quick update. having just woke up (I live on the West Coast), I realize that I got my fill pretty near the breakeven point at 73.71 with a few cents added due to slippage. Bad trade nonetheless.
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saliva,

i am glad you dodged a bullet this time. but usman may be finished, he had no stop loss.
 
Quote from saliva:

Just a quick update. having just woke up (I live on the West Coast), I realize that I got my fill pretty near the breakeven point at 73.71 with a few cents added due to slippage. Bad trade nonetheless.

I plan to take the day off today so I wish y'all a nice weekend. BTW what the hell happened at 11:25 EST that led to the selloff? Whereas ES looked like it was only in the midst of a chop, this baby appears to have gotten thrashed.
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Awesome, glad you got out. It hung around the lower end too long this morning.
 
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