CL Redux

i was saw sugar earlier at 16.7, was thinking of shorting it, but cba

 

Sugar might be forming a multi month triple bottom

 

Technicals rule always until some fundamental news, or economic reports (e.g. payrolls tomorrow) come out. Then technical BS goes out the window.

 

1/ Market voted New pipe line from Cushing to Refinaries as Bullish
-- Refinaries and Big Traders are happy to 'Sell the Eurpoe Gasoline at this high prices ' buy 'Cheap WTI oil' at Cushing , take it to Refineries with New pipeLine (700,000 Barrels a day starting from JAN ) and Deliver gasoline to Europe.

2/ WTI volatility may increase, but you will have time to know ahead. These Pipe lines may run into Delays and won't operate at full capacity at the beginning etc..

3/ This LOW WTI volatality for last month or so is good, once you understand it , you can go SHORT and LONG 'DAY POSITION Trades at DAY extreme price values' ( not 15-20 tick SCALP trades) with out Worrying about STOPS since the day Range is 100 to 125 ticks ( except the extreme days like Tuesday, that is one day in 30 days . )

 

short 87, stop 89 token

 

stopped 90, reshort 88, stop 91

 

out 74, gonna regret that!

 

shoulda put a buy order at 52, was the correct play...

 

went long at 52, stopped at 48

then saw a double bottom, so went long at 34, stop 32, out at 44

anyone do these scary ultra tight stops sort of trades?

 

2 cent stop on oil? that must be very hard!!