CL Redux

I dont see any reason why oil should not drop to low 80s now. All the good news have already been priced in. Tomorrows inventories will be the spot for distribution by big players and then it should be a free fall

 

Let's hope that's the case. I'm sick 'n tired of paying almost $4/gallon at the pumps. I saw your short positions earlier. holdin' up ok?

Interesting daily chart on USO. evening star?

 

Fundamentally, oil is now in backwardation. Suggests v tight in the short term. Could see $100 at some point.

 

GM

Crude #s at 10:30

EU meeting at 12:00


Euro leaders meeting at 1:15 pm

 

Long 92.52

 

The price action is making me nervous. It should have tanked by now

 

shorted at 9105, no apols for delay unless someone wants to pay me what i'm losing

 

pretty late & in the danger zone

 

Covered all shorts at 91.15

My timing was off by a day, as usual ... and I had to sit there in the red for 24 hrs.

 

out at 9160, did fall to 9050ish, but took a whack instead .