Long Crude!

[zghorner]

60 bux on WTI by August/September. Because with no demand, price collapses.

you are probably right about $60 in 5-6 months...at least I anticipate it to be closer to $60 than $160 by that time.

but as for now Dennis' old saying: "buy strength, sell weakness" comes to mind...and oil has been pretty strong lately. no way I would sell it just yet.

 

[KCalhoun]

I'm starting to short crude up here, cautiously as usual.... bought a bit of SCO. The long UCO chart looks great, but due for a pullback next week imo (minor 6-8 pts)

Looking at upside in SCO on 1year chart.... still a falling knife, I'll start trading size if it gets a hammer/b. engulfing soon.