ES Journal - 2019/2020

theapprentice · May 4, 2020

Short 06

vanzandt · May 4, 2020

Noone123 said:
I just know its going to be ugly for oil within 2 weeks.

It just seems too obvious of a trade, that's what bothers me.
Imagine what would happen if a tanker was sunk in the Straits of Hormuz. The initial spike would lead to a squeeze of epic proportions. There's a lot of bad actors in this world. I wouldn't put it past Saudi or Russia one bit, orchestrating it to look like Iran.

I dunno.... I'd be careful shorting it though. One could wake up with their stop triggered and find their cover price north of $45.

schizo · May 4, 2020

schizo said:
Flip short 8

Out 7.25

schizo · May 4, 2020

Short 6
sl 2
pt 2796

EsKiller · May 4, 2020

Volatility went to crap as expected. Ugh

theapprentice · May 4, 2020

theapprentice said:
Short 06

add 13
avg 9.5

schizo · May 4, 2020

Long 12.50 sl 4

hafez50 · May 4, 2020

This is the kind of day you should be sitting on your hands . Knowing when not to trade is as important as knowing when to trade.Screws your mojo up trading muck like this . This is as bad as many summer days the past 10 yrs

syswizard · May 4, 2020

vanzandt said:
It just seems too obvious of a trade, that's what bothers me.
I dunno.... I'd be careful shorting it though. One could wake up with their stop triggered and find their cover price north of $45.

We also have potential for a Trump tweet or announcement on the government paying domestic oil producers for reducing their drilling activities. Also, there is the possibility of Treasury Secretary Mnuchin announcing the opening of the strategic petroleum reserve (SPR) and/or the expansion of the reserve.
Shorts....be careful.

hafez50 · May 4, 2020

syswizard said:
We also have potential for a Trump tweet or announcement on the government paying domestic oil producers for reducing their drilling activities. Also, there is the possibility of Treasury Secretary Mnuchin announcing the opening of the strategic petroleum reserve (SPR) and/or the expansion of the reserve.
Shorts....be careful.

Oil looks very constructive here . I've noticed traffic on the road the past 7 days has increased big. With the opec cuts who knows. I sure wouldn't be shorting it