Time to short Oil

Quote from AMT4SWA:

The current bust through the bottom of the $85 to $77 zone gives us a new drop today as we are currently trading in the $74 range.

I will be looking to cover a small portion of my remaining SHORT position at the $72.75 level if we trade there for the Dec QM contract.
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My Dec QM $72.75 level profit target has been tagged out......KEEP DROPPING OIL!!! :eek:
 
Quote from AMT4SWA:

Spanish..... See how oil has now traded in the zone of $85 to $77 as I had mentioned before (my final main profit target zone). We have traded down to the $77 area and then back up to the $85 area. Oil will most likely trade out of this zone soon and then build up some short term momentum....so keep your eye on this zone for which side we breakout.

Also, the last 10% of my QM SHORT trade I was able to roll over to the Dec contract with about $.37 of price improvement. I am no longer holding any Nov QM SHORT positions.
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As I had stated...we are building momentum with the bust of the lower level of the $85 to $77 zone.....price in just two days is now trading in the $69's from the bust through $77.

I have decided to set a final profit target for my last Dec QM SHORT positions at $67.75 .........this trade worked out exceptionally well and I am ready to put a conclusion to the trade.
 
Quote from AMT4SWA:

As I had stated...we are building momentum with the bust of the lower level of the $85 to $77 zone.....price in just two days is now trading in the $69's from the bust through $77.

I have decided to set a final profit target for my last Dec QM SHORT positions at $67.75 .........this trade worked out exceptionally well and I am ready to put a conclusion to the trade.
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why not go long around here if you think this is a the bottom of the ride?
 
Quote from jasonjm:

why not go long around here if you think this is a the bottom of the ride?
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I have explained why not earlier in the thread.....has to do with the demand destruction picture.
 
I made 133 ticks from 4pm t 5pm buying oil in 5 trades,

and am now waiting for 66.98 to see hwo it reacts and the opec/dollar fundamentals before i get my next slightly longerterm buy in.

I feel that the chinese will lower it overnight cos the invent number.


Im very pleased with myself though as ive had to invent an entirely new stratergy form monday morning, and yet ive still managed to make 588 ticks so far this week.

(didnt trade yesterday)
 
Can i ask you something AMT, do you actually have any money in your bank account??

Or do you have all your money in your traidng account??
 
Decent amount in a few banks and a fairly large amount in trading accounts (as a percentage of my net worth). I also own assets that are paid for and I have certain assets in my private holdings (precious metal holdings).

I am very selective with who I bank with....so I am cautious in that regard. Also, in the months ahead I will be transitioning very large portions of my liquid assets into tangible items (land, properties, aircraft, etc).....that is my next big step. With our current economic environment, I want MOST of my wealth where I can TOUCH it everyday! :D
 
Quote from AMT4SWA:

Decent amount in a few banks and a fairly large amount in trading accounts (as a percentage of my net worth). I also own assets that are paid for and I have certain assets in my private holdings (precious metal holdings).

I am very selective with who I bank with....so I am cautious in that regard. Also, in the months ahead I will be transitioning very large portions of my liquid assets into tangible items (land, properties, aircraft, etc).....that is my next big step. With our current economic environment, I want MOST of my wealth where I can TOUCH it everyday! :D
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Don't forget food and guns ;)
 
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