Crude is screwed, man.

Somehow the term "confluence" - and during an identical time frame one product selling off 3% whilst the other rallies 10.5% doesn't quite hold water.

Classic divergence opportunity between highly correlated products.

 

Those charts say "delayed data". So you don't have real-time connection to the market? As for the confluence I mentioned...Yes, they seem to be. What that second chart is I do not know. That pricing is weird. Is that a "crack-spread" thing?

 

Staying long here.

 

Stop raised to 49.20. Pricing is currently 50.82

 

you should've taken profits today before EIA

greed kills

 

At current pricing you're up ~200 ticks. Why not get out now? Catch the rainbow!

 

This trade was made on a little larger timeframe, but I am considering it. In any event, I won't be holding it to a 200 tick loss.

 

Mreh. This whole crude thing reminded me of a cool little article I recall. It gave me a laff.

I may have posted the link before, but I don't remember. A fun read nonetheless.

https://www.bloomberg.com/news/articles/2015-11-03/that-time-i-tried-to-buy-some-crude-oil

 

I've just finished reading all 35 pages. Has been an enjoyable read.

 

1. 
   
   
   
2. 
   
   
3. 
   Raoul Pal‏@RaoulGMI 2h2 hours ago
   
   
   
   Oil people -Thoughts on how much potential seasonal inventory draws are discounted in the price? Any surprises realistically possible? #OOTT