The short is working out well.. you guys that are scared shitless ..might want to think about trading options or the USo stock oil etf... (USO) every 100 shares is equal toabout 100 barrels of oil... or 1/10th a full nymex CL contract.. the bigggest edge you will ever attain is by holding onto your winners!~!
Not today they didn't (Thursday June 5, 2008). Short covering dominated the second half of CL. After bottoming in the first hour the undertone of persistent buying remained evident throughout the rest of the session. This is how the mo-fo went: down 72, up 73, down 127,up 147, down 70, up 113, down 79, up 409, down 70, up 82. ".. ah bubbling crude.. oil that is .. black gold .. Texas tea"
Funny you should say that. Crude was @ 5. I go to take a shit and then crude trades at 8 fifty. I was like WTF