POLPOLIK Just read your post. I hope you realize that "ridiculous moves" no matter how ridiculous they are.. are still valid price moves? Look at the CME stock .. symbol CME.. when it went public and quickly hit 165 many people said that is a ridiculous price to pay.. now it is at 630! Here is my point! and this is what is going to save you money which means making you money... when the CME hit 250 people said man thats really ridiculous let's short it.. then they got hammered... and it rallies to 300.. short covering moves markets!!!!!!!!!!!! then it rallies to 400 then 500 etc.. at 630 it must be insanely over priced and super ridiculous... but guess what.. the price of 630 is the price and hundreds of thousands of shares are traded everyday at this price! Put the fundamentals aside and look at it like an auction.. actually I recommend you go to a local furniture auction and watch the action. An end table which is fundamentally worth 45 dollars can fetch $ 10 bucks if no one is interested and can fetch 95 if four or five people want it! Forget about fundamentals.. unless you have Goldman with 500 analysts on your side! Price and volume are your only edge.. if you read it right.. stop picking tops and bottoms. You also might try buying a put or two instead of shorting futures.. will give you more holding power if you are really convinced the market is moving lower.
I think he's just excited. He's just poking fun, especially at all you top pickers who are getting wacked in the face. Killing other traders is bliss, but be careful Kin. Get too confident and you'll go home with acid stained lips, for I will be on the other side of your trade, and send you and your family to the poor house. YEEHAW!!!
Nope, I'm done with CL for now. It looks like it wants to continue higher. I believe that the supply/demand issues right now are meaningless. Price action continues to be driven by the weak action in the USDX which has broken support yet again. Unless the dollar rebounds, its tough to short anything anti-dollar at the moment. I'm going back to my hole in the SP for now...
Looks like the next up move has begun. Irrational moves are to be expected. Go with it! http://charts.quote.com/cis/fsspon?...1,221,221)&showextendednames=true&random=7936
Well, I've been wrong with crude for two months now. We're getting a correction, it's just a matter of when. It has defied logic for so long, but I can't say when it will stop. I thought it would in the mid-80's, I knew it would in the 90's, and yet we're in the mid-90's now. Seems like it will get taken to 100 just because it can. I never thought I'd see this in the forefront of winter with minimal supply issues. All I know, is at some point this will correct and it will probably be an Over-correction.
Minimal supply issues? Are you joking? Inventories are going down when they should be building up in fall ahead of the winter heating season. There are serious supply issues now, I don't know what market you've been watching.