Great example of how retail traders can do very well for themselves in the intercommodity spreads just going along with the big commercials.
Kind of a double edged sword here. I know a lot of retail guys that would have been more then willing to sell those spreads for .30 3 days ago. They are 2.80 today. That's a bloodbath. People still need to know what they are doing.
Huh? Ten percent or one percent? One percent is .70. That's half the daily ATR. LOL. It can do that in one 5 min bar.
already a little in the green. I am ready to add another contract if it goes up to 75. But might close today if fubdamentals change. see my strategy is to go for the win. Even $ 700 up will be nice. And I tolerate a red position if needed.
Brent-WTI spread rapidly dropped in basically a month..probably a good sign for those worried about US production and curiously enough media stopped the fuss about it. New fundamentals are coming.. Btw found an interesting read to proof Permian Basin is drown in oil http://brokerarena.com/market-notes/permian-basin-oil-production-hits-constraints/