Crude !!!

Goldman Sachs said oil is going to $120, damnit.

Oh, they'll find a way.

 

anyone thinking about shorting...

CL back up for trading. it could go down and retrace to the price where the "no news" event occured.

 

Most of those would have been stop loss orders.

However if anyone did open a new position they had plenty of time to get out at $65. Even now you can get out a 64.35.

Hardly a career ending move.

 

Its makes you wonder... if oil can move up 8% on a BS rumour, how much will it move during an all out war with Iran.

We are looking at atleast a 100% move up..

 

pretty big moves for a rumor. Must of been some sort of reliable source.

CNN said navy denied.

 

volume on the spike to 68 was on about 1k contracts on globex. someone wanted in or at least to cover on some impending action imo still trading over 64 right now, about +1.13 higher from the close.

 

Crude oil will be at $70 within 2 weeks.

Too many nervous traders and itchy trigger fingers.

Who the hell would go short crude now?

 

My CL time and sales is showing about 6K contracts on CL during the spike.

 

The Iran fears wont be going away anytime soon even though there was no exhange of conflict between the US and Iran.

I wouldnt be surprised to see oil creep back to 67

 

i'm looking at about 1k traded right at the 68 print. globex now trading over 4k contracts in the 1st 30min. for trade date 3/28. some pretty good size comin' in on the bid right now. rumor or no rumor, prices are moving that's for sure.