CL Redux

Lovely, I'm switching to long here at 70.80.

Plan to average down to 70

 

I agree with going long for the short term. But be careful, this could be USD carry trade unwinding in action!

 

adding to long term longs here is a very good idea.

add 1 here at 70.50 and 2 at 65.00

 

That's brave!
I don't invest longterm, but if the carry trade bubble bursts, it will be fast and hard. So watch out!

 

Brave is if I had bought Jan '10 contracts at $78. This price is a bargain. I have added longs in April'10

 

You know what you're doing. Keep rolling!

 

Looks like we've hit the bottom for now.

One thing I realize about CL is that it never likes a V-shaped reversal. It always resorts to flushing out the weak longs or shorts. You could see this on just about every turn. Well, there ya have it. A daily hint from this noob.

 

trading CL used to be so much easier than this

 

It was the exact opposite earlier this year. It changes over time. This is why you have to constantly adapt to stay profitable.

 

Bulls are charging for now with their tails hidden between their legs. My sources tell me that we should run up for tomorrow, but who knows(??)