7 ugly options for the U.S. in Libya http://globalpublicsquare.blogs.cnn.com/2011/03/09/7-ugly-options-for-the-u-s-in-libya/?hpt=T2
I knew about these options, none of which seems to work well. That's why they're not doing much. Tough situation. Lucky we're just trading CL and not one of the poor Libyan citizens.
Bertha Coombs on CNBC from NYMEX is saying the reason we see the over $10 price differential between Brent and CL is what we already knew, Brent is more influenced by the bombings, etc. in Libya, while CL is being more influenced by the supply increase in Oklahoma. She's saying traders will not be short over the weekend, but this may pullback on Monday if there are no new major developments over the weekend. Also CNBC is saying the USD slips as Portugal sells 2-yr Bonds. http://www.marketwatch.com/story/dollar-slips-euro-gains-after-portugal-auction-2011-03-09
Good move. Just stalled there. ADD Of course now it will go to 105. ADD2 The 104.21 quadruple bottom from earlier in the day has acted more as resistance now the last half hour of so.
i think I was getting a win% of 50% today. I was picking the right direction and getting stopped out by a few ticks before the trade went my way. I kept ending up around + $ 20 for the day. Took an ES trade after seeing it miss my limit order go all the way down and then back up, so shorted again, and of course now got stopped out. Finally took 1 last CL trade, and yes probably I am over trading a bit, but it was a winning scalp and am now up for the day though not much due to commissions.