Time to short Oil

Quote from Ivanovich:

Folks here have been shorting oil at every $5 increments since it hit $80. All of them have been trashed. If he wishes to short at $145, that's cool. I wish him luck.
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Not unless you apply the accordeon method.
 
Correct.....the accordion has been making a killing in oil with multiday intra-day $5 to $6 dollar swings which mass rapid and repititious daily profits.
 
Quote from AMT4SWA:

I have been scaling into oil short play too with the ECB announcement coming this morning....looking for a "rate announcement" run up move to get a short term volume/price spike. I am targeting $147's as a possible high in the next trade day or two after the announcement if the Euro can get to the 1.6000's on a breakout move.

Oil could pullback to below the $140's again until more data comes out in the next week or two....I like the idea of a short term news related volume/price spike as an entry area.
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With this drop in oil after the ECB "statement" release, I am still holding my $145.50 and $145.75 entries in the QM and all other positions I started with yesterday are now all covered with profits.....I will see if oil can get below $140 in the next few trading days.
 
I am not shorting anything, but I would expect oil to come off a little in the short term based on the statements made by the ECB. Also, the chief German economic advisor did not agree with the rate hike, saying that he feels the eurozone will be in a deep economic slowdown.

should be interesting to see what happens.
 
P&F charts pointed to $144 zone as the target a while ago. With ATR and skew massaging, the target has been revised higher. I think she needs a rest soon. Needle thin moves make me queasy. ;~)

Sell the rhino horn, buy the fishing line....to quote an old master.
 
I covered all my remaining $145.50 short positions at $135.50 today.....still holding my $145.75 short entries for sub $132.00 levels down the road. That was one nice pullback! :)
 
Quote from AMT4SWA:

I covered all my remaining $145.50 short positions at $135.50 today.....still holding my $145.75 short entries for sub $132.00 levels down the road. That was one nice pullback! :)
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what did you do with the remaining short positions? right now crude is at 145.43$
 
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