Time to short crude oil soon? Following SCO

[KCalhoun]

It's hard to know when ranges are overextended, but crude has been up for awhile.

If it drops, I'll scale into SCO, when it gets over 7.

https://www.cnbc.com/quotes/SCO

If it keeps running up I'll get in UCO OXY APA MRO.

 

[S2007S]

I bought some SCO, these oil plays tend to completely over do it on both sides however..only bought a 1/4 of a position and will add more if I have to.

 

[KCalhoun]

Just bot a bit of DRIP too ah, oil inverse

 

[treeman]

Following to see how long it takes you to capitulate. Thanks for the liquidity!

 

[bone]

If you're trading oil, you're trading the stock market.

 

[KCalhoun]

Yes, I closed SCO drip last week, will reenter if they go up. Will trade OXY MRO UCO if oil keeps rising

 

[maxinger]

wti crude oil and China Shanghai INE sour crude futures - down they go


but CNBC news is extremely slow.
it says
' brent crude heads toward $70 as China energy demand outlook brightens'

 

[KCalhoun]

I'll buy SCO on any 2day high

 

[bone]

What's funny about that is that the amount of actual legit North Sea production has been on the decline and European Refiners have been increasingly buying US crudestocks.

To the point that ICE wants to include North American Crude into the Brent contract specifications, but nobody can agree upon basis components like tanker rates.

but CNBC news is extremely slow.
it says
' brent crude heads toward $70 as China energy demand outlook brightens'

 

[treeman]

All versions of anything oil are in backwardation (except NG). This isn't common. Said another way - tankers are paying you to store oil instead of the other way around. Ask yourself, why might that be?

(hint: it's not a lack of current demand)