CL Redux

covered the remainder...moved almost .25 in my direction and was up against a trendline...better to take profit than sleep on it and hope it dips further. god knows what that oil spill might cause overnight....


cheers all
 
Think this rally was partially due to BP realizing the Gulf of Mexico oil rig collapse is leaking 5x more oil into the ocean than previously though.

Just think 5 contracts per day worth of oil lost forever, getting set abalze, fucking with local shrimpers threatening class action lawsuits, etc... with no solution in sight.

Less supply = more demand
 
Quote from spd:

Think this rally was partially due to BP realizing the Gulf of Mexico oil rig collapse is leaking 5x more oil into the ocean than previously though.

Just think 5 contracts per day worth of oil lost forever, getting set abalze, fucking with local shrimpers threatening class action lawsuits, etc... with no solution in sight.

Less supply = more demand
More...

Now eveyone along the coast wants a piece of BP: fisherman, beach/hotel owners, and local government, etc.

Maybe BP traders started to recover the cost today? :D
 
Quote from cstfx:

sh 85.46

s/l 85.71

tp 8480
More...

doubled up another at 8534 average 8540 and widened s/l to 8600 and lowered t/p to 8400.

reason: since intraday action seems to be more fundamentally news driven, Goldman is getting hit with federal criminal charges, and if the SEC charges were enough to ding crude, a criminal charge is bound to have a greater effect if the largest oil trader is indicted as news says.*

*IMO only

http://www.cbsnews.com/stories/2010/04/29/business/econwatch/main6445636.shtml
 
Quote from schizo:

Eh??
More...

less available resources = more of a scramble for whats out there?

Ive had a few tonight, pulled my calf muscle plus a million things on my mind. Im going to stop posting now.
 
hit the lottery ticket, I am on the way toward normal trading. will not gamble on report.


Quote from NoDoji:

I'm assuming this is your demo account, because a couple weeks ago your account was $6500, then Monday you lost nearly $4000 of that in CL. So I'm assuming you wouldn't risk an account blowup and a nasty margin call on a news gamble.

If you actually turned $2,500 real money into $22,500 real money on NG today, then congratulations on winning the Roulette wheel 50/50 trading strategy!
More...
 

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Quote from cstfx:

doubled up another at 8534 average 8540 and widened s/l to 8600 and lowered t/p to 8400.
More...

woke up to see my stop was hit which wiped out yestrdays gains and then some.

re-entered short @ 8580
 
Quote from cstfx:

woke up to see my stop was hit which wiped out yestrdays gains and then some.

re-entered short @ 8580
More...


out 8565 +15, but still down -15 off yst gains
 
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