Nice trade, EON. I have this great itch to scalp with ya, which actually suits me better. But something also tells me that patience would be a rewarding experience for the next few days. We shall see.
insider information: huge build up of oil inventory last week, due to a sharp decrease in gas consumption blamed on the historic cold spell. Expect CL to drop to $78 on Thursday.
Why did the friggin' thing shot up on excess inventory? Oh well, it's all history now. I'm a bit more bearish than you. I'm aiming for 80 as the first target, followed by a quick bounce, and then 75 for the second target.
Last week's rally was mainly caused by Japan Airlines' liquidation of its short positions (demanded by creditors who want to know how much assets the company has). I guess their short positions are cleared by now. Don't ask me where I got my information, suffice to say I paid big money for it.
Don't expect me to give you a wink and a nod. If I were a woman, I woulda shook you up all night long.
Last time I shared insider information after a night's shaking up by a woman was when I got very drunk. When I woke up in the morning, she was much older than I thought, and I regretted telling her too much. http://nymag.com/daily/intel/2009/11/meet_the_cougar_who_fed_raj_ra.html