The Israel Lebanon deal was the peak $78 price in 06. Wonder if history will repeat itself. There's one big difference w/ respect to market fundamentals this time: notice the backforwarding on the calendar. Last yr, the market was in contango (less bullish).
Just call your local oil market maker, tell him you have a GOLDMAN SACHS account, you want to to perform a give-up trade and ask him for a 100.000 lot quote ! You´ll see, he is going to be pretty "nervous"...
Crude runs like these tend to mark tops with a price spike. This is why I am not reentering the short side just quite yet. With CLX trading at 88.60 now, there is a good chance that we will see a very quick move to 90 imo. This time period in energy reminds me of the last top in Crude right near 80 when the media was talking up 100 CL. The ride back down to 50 was spectacular nonetheless...
Trying to sell again right here @ 88.80. Very tight stop just over 89 though.. Upside momentum looks to be waning imo...
Good luck with your trade, Realist! Keep in mind that the roll from Nov to Dec crude is already in progress and the last trading day for Nov is Monday. Aaron Schindler Schindler Trading
Not many things are guaranteed in trading but I think it's a fair bet to say that Nov crude trades above 90.00 overnight and i imagine the most pain would be inflicted if we settled above 90 on Friday rather than below. Who wants to be short crude over the weekend? If dollar gets trashed on sunday night crude is gonna fly. edit -Putting my money where my mouth is: Long Dec crude from 88.10.
Paging Dr. Kevorkian to the crude pit. Check in with margin call clerk to locate patient. (Ohh black humor).
Dude, just stop and go away--you got lucky. You are acting exactly like stock_trad3r, and that is no compliment. If you're making money that should be enough satisfaction, the needling and posting nonsense on your own thread that no one else will touch speak volumes about your character.