CL Redux

And imagine that a sequence of two 4-point drops did not manage to tighten the Brent-WTI spread, which has negative unhedged delta (currently 15 points) so it should fall together with Brent... quite the opposite - the spread is still near the highs for this contract... a 15/5 R:R trade. (Edit: managed to roll from May to Jun CL at a discount that should overcome the contango for a few months: 111-109 sold, 106.5 bought, to add lower)

 

Not a drop, i'm afraid .

 

As Big Hog says "dont diddle in the middle"

 

Well you have my sympathy.

 

well folks, here's a daily chart w/ fib retracement and trendline for your reference.

 

That Big Hog's a wise mofo.

Still on the sidelines, looks like I may be here a while.

 

Don, that's great, but can you do a <i>forward</i> one?

Otherwise, IMHO, in hindsight you can always unintentionally "nudge" the levels.

But, hey, whatever works for you, just not my cup of tea.

Best luck/skill.

 

Thanks. Amazing how the 50 % retrace to 105.59 is almost exactly the LOD at 105.60.

 

yea it's a toss up between this and the crystal ball posted by someone else before.

 

Here's a good one for you. Poor babies are panicking.

12:20p

BREAKING

OPEC sees more demand for its oil in 2011