CL Redux

Thanks but I think you misread what I wrote. I did say BZ and BRN were interchangeable (eg. "note that IB uses BZ for BRN"). But if you look at the chart Risky posted earlier, BRN in this case, it looks more like COIL. So I checked the exchange setting and found that BRN is connected to Nymex and not Ice. This means BRN and BZ are in fact the same contract. But why do the two charts look so different?

 

Short 86.46

SL >88
PT <80

 

Long 86.26 , target 86.89

 

Target price met at 5:12 EST time

 

I hope I'm not misunderstanding the question. Here is what I know. BZ on IB is the last day financial Brent futures contract on Nymex. Also the IB symbol for the ICE Brent (BRN) is COIL.

 

Is there news driving this move? Trying to figure out whether to hold this or take it off.

EDIT: Never mind, I'm out based on the "damn that's a lotta ticks" exit signal

 

Traders shorting the spread, buying light sweet, selling brent.

 

Interesting. This thing was so strong I thought we'd make another break and try for 88.11!

 

Rumors Mubarak may step down. He is to address country today.

http://www.reuters.com/article/2011/02/10/us-egypt-bbc-idUSTRE71940220110210

 

Long 86.78