CL Redux

Quote from NoDoji:

I would like to personally thank you guys for removing those pesky "CL swing trade" thoughts forever from my mind :eek:
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Yeap, that was when I stop being a swing trader at least CL and NG.
 
Quote from Picaso:

:D

I'm leaning long (so far)

Edit: fuck didn't get filled .19
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so far you're doing better than Mr bear. I'm keeping note of the OR low though.
 
Quote from cstfx:

a non-event?

http://www.cnn.com/2010/WORLD/americas/07/25/venezuela.chavez.us/index.html?hpt=T2
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I won't say to not pay attention to this news, but by experience, it could create a little spike for a day, but every trader (specially in the floor) knows that this rhetoric.
Chavez needs US refineries more than US needs Chavez's Oil, besides Chavez oil is the Sour Oil (Heavier) which is not the one that you trade in the NYMEX (We trade Sweat Oil, which is easier to refine), it's the reason why Venezuela has to ship most of his Oil to the US Coast because is the only mega refineries capable to refine that type of Oil. The other place that Venezuela could send it is China, but it's to far and China wants Venezuela pay the transportation which is not viable for Venezuela.
 
(delayed, sorry)

Long .73 out .69

[Edit] I'm still thinking of the trade I missed at the opening, I think I'm going to stay on the sidelines till the New Home Sales report. :(
 
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