CL Redux

How much was the biggest daily move in oil previously.

 

Buyers here, any1 selling blocks? Looking for @ 102-105 target in TF of 7 -10 days.

No leadership in Libya, Baharin going down and its a MAJOR effect on Saudia A.

 

Over 10 bucks 4 years ago, if I recall correctly.

 

limit is 10......

 

Does that mean the market is shut down for the rest of the day?

 

Don't forget that there are two effects here:

- geopolitical issues (obviously),
- the WTI/Brent spread.

I think the first one is also a catalyst for the second shrinking, and shrinking quickly. The WTI/Brent spread is down to $10.50 at this point, but until the last month or so... it was very rarely above $2.

So, the easy/obvious trade for an awful lot of funds right now is that spread closing... and that means going long WTI.

 

Don't forget the dollar taking off like a virgin on the first dry hump.

 

Long 96.52

 

5 min chart with 98+

http://www.barchart.com/chart.php?s...ddindicator=&submitted=1&fpage=&txtDate=#jump

 

Unless you're an idiot (rhetorically speaking ), 100 is a given. We'll most likely hit it tomorrow.