CL Redux

moved my stop to .20 to get some more breathing room hehe

 

took one off at .61 moved stop to .38, target for remainder still 86

 

your overnight stop loss is too wide, but trade P/L to ask money back is NO NO NO.

 

CL looks tired after the past two big runs. M/N spread widens from $1.95 to $2.2, very bearish.

Some profit-taking on Euro. Next thing is GDP. Let's see what happens.

 

weak GDP bearish for crude?

 

In general, yes. But weak GDP can drop US dollar and makes CL stronger, like what happened in 2008.

 

there is no correlation between GDP and crude. if crude is shooting, then buy. if drop, then sell.
the price trend

 

long 8565

 

out 8580

for the day down 90 but flat for past 2 days (yesterday + 92) considering commissions.

Sucks working for nothing

 

Flipping short from here. 8640+- should be the ceiling