cl sells off from here back to 100, and look out below!

triple top here bs runnup from 104.70 to dump 5 bucks on one day again this week, same old bs in crude, try to blow out the undercapitalized traders, and boom, then flush all the late coming longs to the party looking for a breakout trade!!

http://charts3.barchart.com/chart.a...divd=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix=

 

just getting started folks!

 

Deep recession and market fundamentals support much lower prices, cl drops hard the rest of the week, reinforced by another build in supplies tomorrow.

 

when do you see the drop starting?...tomorrow after EIA numbers released?...would not call today a 'sell off' or 'tank'...please advise

 

Also looking for a top here. I am not as confident as you in its success, but the R/R numbers are great. I am probably going short just after the Wednesday numbers are released.

 

oil spikes tomorrow to new all time highs if drop in gas and crude stocks at 8:30 am.. and refinery utiliz is below 87 % ..

if this scenario happens.. mkt spikes above 109.50 causes short covering large spike.. all of this allows a lot of volume (fuel for shorts)buys !!! the shorts are taking the other side and later next week oil starts to sell off
just an opinion.. of course

deep recession has not hit yet.. just warnings.. mall parking lot full .. stores had lines out the door.. all rest. are busy and have waits.. only people getting squeezed by this "recession:" are those who speculated in Real estate and lost and those who ran up huge credit balances on hojme equity.. most people are doign jsut fine right now.. especially people with disposable income.. where is the recession at this moment?

I am not a huge oil bull over the next few months.. but for the next week I am a bull.. we need a spike higher.. blow off top to create fuel for large traders who want to get short

 

oil heading to new all time highs as we speak

 

here is a trade i posted last night.. and took this morning

http://www.elitetrader.com/vb/showthread.php?s=&threadid=124196

 

Very nice observations and great trading call.

 

thank you.. It is very rare that anyone on this site ever gets any credit ...obviously if oil had sold off hard then I would not have had a trade.. I have been making this trade all year and doing well on most wednesdays... oil used to jump up 30 pts then sell off 50 pts then resume its upward move.. on wednesdays byut now it picks a direction and goes and goes and goes.

Thank you.