CL Redux

Quote from riskaddict:

Speaking of investing.... I'm investing in my future by adding to my shorts just 1 QM at 82.60. Puts me back to -3 avg of 82.40. I'm also short coffee, the ES and the DX. I figure no matter what happens something has gotta go down. I'm guessing API's inventory report must be showing less of a build with the drift up. When the hell does that thing come out? I usually can't find the number until 4:30am est. Anyway what a boring ass day thank god for Battlefield!!
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You can get access to API's report if you want to subscribe. As you can see from the snap shot of pricing on their subscription form it's pretty steep for non-members. The cheap alternative is for key info is from the web. API estimated a 1.5 million bbl build in crude; their actual was 6.4 million bbls. I guess if you're in the oil biz you always want to understate stock builds and over state product draws :)

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EIA stocks look like this:

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http://www.marketwatch.com/story/api-shows-higher-than-expected-rise-in-oil-supply-2010-10-26
 

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Quote from riskaddict:

Speaking of investing.... I'm investing in my future by adding to my shorts just 1 QM at 82.60. Puts me back to -3 avg of 82.40
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I'm not gonna look this gift horse in the mouth plus I feel overexposed on the short side so I'll cover 1 at .325. Plus it my avg feel and look better. Is it stupid to take such a quick profit if I was originally willing to let this thing run above 83?
 
Quote from riskaddict:

I'm not gonna look this gift horse in the mouth plus I feel overexposed on the short side so I'll cover 1 at .325. Plus it my avg feel and look better. Is it stupid to take such a quick profit if I was originally willing to let this thing run above 83?
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You had a plan, but you didn't stick to it? Would that be accurate?
 
Quote from Visaria:

You had a plan, but you didn't stick to it? Would that be accurate?
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Yes very accurate, but the plan may have not been well thought out because it wasn't taking other positions into consideration. I often find myself being confused because what I try to discuss on here strictly revolves around the movement of oil where as my main edge is money management and hedging. Therefore trades I make might not reflect my absolute view as to what oil is doing but rather simply an adjustment of risk exposure. However that sounds like a cop out on my part because the a plan should take all things into consideration to begin with. Maybe I need to start a thread titled hedge fund wanna be, risk and portfolio management for futures investors. God this is better than talking to a therapist!!
 
Quote from riskaddict:

Yes very accurate, but the plan may have not been well thought out because it wasn't taking other positions into consideration. I often find myself being confused because what I try to discuss on here strictly revolves around the movement of oil where as my main edge is money management and hedging. Therefore trades I make might not reflect my absolute view as to what oil is doing but rather simply an adjustment of risk exposure. However that sounds like a cop out on my part because the a plan should take all things into consideration to begin with. Maybe I need to start a thread titled hedge fund wanna be, risk and portfolio management for futures investors. God this is better than talking to a therapist!!
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That'll be a hundred dollars and, sorry, but we're out of time. :D
 
.60 makes sense to me its kinda at the bottom of that think value area. I'm placing a stop at 82.10 which will probably be taken out on the bs swings from the meaningless report. TP still at 81.05.
 
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