CL Redux

Right.

 

I'm going to call it a week and get some lunch. Have a great weekend. I'll let you all know how the tsunami turns out here.

 

add 101.10

 

Looking at the daily, it appears that Monday should be bullish. Will hold the existing long into the weekend.

Disaster stop 99.70-ish.

 

http://www.marketwatch.com/story/obama-orders-gasoline-price-gouging-probe-2011-03-11

Obama orders gasoline-price probe

1/ WASHINGTON (MarketWatch) — President Barack Obama ordered a probe into potential gasoline price-gouging on Friday and said the government is watching for manipulation in oil markets.

Speaking at a White House press conference, Obama said he’s asked his attorney general and U.S. government agencies to work with state attorneys general to monitor for gasoline-price gouging, “to make sure that nobody is taking advantage of working families at the pump.”


2/ Obama also said he’s willing to tap into the U.S. Strategic Petroleum Reserve “should the situation demand it” but declined to answer a question of what price would trigger a release.

 

Lol, we're supposed to be in the risk management business.

BCE, just get out of there!

 

Are you on NinjaTrader? I've been contemplating on switching from ZenFire to CQG but I have yet to hear a convincing argument that CQG is any better than ZF--or any worse for that matter.

 

Think it holds this resistance TL at 101.50?

 

Geez, haven't we been through this before. Bush did it. So did Clinton in his second term.

Verdict: Same crap, different bucket.

 

101.50 doesn't look like a major resistance in my eyes. We'll shortly find out whther it will hold or not on Sunday night. My guess is that we go right back up to 103-ish area.