Frankly, I have no interest in the fundamentals. But why should it be any more bizarre than to see the price tanking while millions of gallons of oil are being dumped in the Gulf of Mexico? One would think this will lead to a supply shortage that would push the price up. But the market obviously doesn't see it that way.
CL Redux
- Thread starter schizo
- Start date
Frankly, I have no interest in the fundamentals. But why should it be any more bizarre than to see the price tanking while millions of gallons of oil are being dumped in the Gulf of Mexico? One would think this will lead to a supply shortage that would push the price up. But the market obviously doesn't see it that way.
it appears crude will try to defend this 70 dollar level,
Although it may be millions of barrels it is nothing in terms of worldwide production. I would think this would be a much bigger deal: http://moneymorning.com/2010/05/15/nigeria-oil-deal/
what broker do you use S, and that was a limit stop, do you put your stop at .80, and your limit at .75, has your limit stop ever been skipped on a sunday noght stop running attack?
the weekly doesn`t appear so favorable for crude.
the weekly doesn`t appear so favorable for crude.
if we get sell-off early in the pit session, rbob will probably be the best buy in my opinion, it is the only product that is experiencing stronger demand fundys.
also, this is a nice trade S, but i would move my stop up to 70.06 as if we break this, then your original stop would get hit, why not free ride the trade locking in your profit, maybe even trail it by ,20 to .25 cents.
as ultimately europe`s market will decide the fate of crude in the short term, if europe has some positive news, and the markets get bought then crude probably hits 71, if europe has a red day, we probably open the pits session below 70 in my opinion.
the trendline is being tested right here on the euro, cl, and es, if it breaks get out.