Time to short Oil

Quote from spanish89:

Did you close any shorts out this afternoon at the mid 100.50 area though??

Thanks
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Yes I have another round of covers from $100.75 down to $98.75....some were filled today as we traded down into the $100 level. I have held these trades from higher price levels, so don't just go and initiate new short entries at these levels as this is a lower probability entry location imo.
 
Quote from mr888:

AMT, How many contracts did you hold from the $140's total?
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After the covers in this current targeted zone, I will have 3 QM's left for any additional downside...my stop for the last 3 QM's I will hold (after the $100.75 to $98.75 zone covers are filled) will be set at the $117's.
 
Quote from AMT4SWA:

Yes I have another round of covers from $100.75 down to $98.75....some were filled today as we traded down into the $100 level. I have held these trades from higher price levels, so don't just go and initiate new short entries at these levels as this is a lower probability entry location imo.
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All my SHORT covers in this zone are now filled....last 15% of my trade will ride for the $85's and below.
 
Quote from AMT4SWA:

Profit targets are now getting covered with todays price action....will be playing these covers down to $98.75....remainder of the last portion of my position will be held for $85 to $77 (last 15% of my overall trade).
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You could see today how HOLDERS of the LONG's from that $98 to $100 zone (major support area that was bought previous to the major run up to $147 area) pucked them up fast which accelerated our blowout run through this support level.

I am holding my last bullets for the $85's and below.....weeeeeeee :)
 
Quote from AMT4SWA:

I have started to sell QM again today (Sept contract) for a new position at $147.25 and at $147.75
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Yes, that was a great call and I agree with the zone he was trading short......wonder if he is still holding any of those SHORT's?
 
I wish id held all my shorts open from when i started scaling down short sells after every spike from $138 to 146.. :( :(

Instead of just cashing in to lock in profit, and opening new shorts after missing out on a few hundred ticks.
 
How low you holding out for now AMT??

66 area or lower even??


And what do you think we will get when we hit there though, since we wont be getting another up rally for a few months atleast..
 
Quote from spanish89:

How low you holding out for now AMT??

66 area or lower even??


And what do you think we will get when we hit there though, since we wont be getting another up rally for a few months atleast..
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$85's to the $77 level is my last zone....that is it for me after that for the longer term SHORT play. I will look to play oil again to the LONG side in the $77 area or below....I will be very patient.....no rush while waiting for my next "macro" signal. :)
 
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