CL Redux

[saliva]

Quote from BPtrader:

saliva,

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

There's no question that I got lucky. Otherwise, I would have been stopped out at 72.30, which would have sucked but still manageable. My motto is "I might be down but I ain't out yet, baby!"

Be that as it may, ALWAYS have a contingency plan by placing your stops. This simple fact can never be overemphasized enough.

 

[usman88]

Quote from BPtrader:

saliva,

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

Interesting

What do you reckon is my

1)Account size?
2)Current longs?
3)Profit for Feb 10?

 

[ammo]

you think the blue men are done

 

[heech]

I don't really have a dog in this fight... I do trade a decent amount of crude, but it's 100% systematic and I do next to nothing on a discretionary basis.

But it does seem like BPTrader pays excessive attention to other people's trading results, and/or reporting habits.

 

[saliva]

I'm really slow to news so would you mind explaining who or what the "blue men" are and what the hell they've been up to that have released the gates of hell?

 

[heech]

Quote from saliva:

I'm really slow to news so would you mind explaining who or what the "blue men" are and what the hell they've been up to that have released the gates of hell?

BlueGold Capital out of London, supposedly liquidating (forced?), but denying all such rumors.

I don't think the sell off at 11:30 AM EST this morning had anything to do with them, though. That was all dollar.

Cocoa, sugar, soybean... anything with dollar exposure all took a huge dump at exactly the same instant.

 

[ammo]

thanks heech

 

[saliva]

Quote from heech:

BlueGold Capital out of London, supposedly liquidating (forced?), but denying all such rumors.

Just how large is their exposure? Are they that big?

 

[usman88]

As heech said, its the dollar and the unwounding of carry trade + Toyota concerns which means an immediate reduction in gasoline demand given the popularity of it in the US. Hedge funds may be liquidating but dont forget the net 10,000 contracts limit.

Whatever the case, these are good levels for buying and buying did took place.

When the retail trader is panicking and selling, that is exactly the time to buy

 

[ammo]

http://www.youtube.com/watch?v=xpVzkDPLiv4