Looks like she's not ready yet...lol...btw Crushed again today, I stink. Rally in the morning caught me offgaurd.
You are probably right about the put spread. It is not a trade based on a technical setup but more predicated on the belief that we should see some pullback after such a huge runup and no fundamental support. Also, I have a hard time believing the gov will let oil run up so high at this nascent time of recovery. It will be a death blow. And i know very well they can control it...at least on a short term basis.
Made it back. Thanks bondos. The thing about put spreads is that you need to be right, if it goes up then down ur screwed. If you don't get the move you lose. If we stay 70-80 range for a couple months, you lose. Just my advice, don't want to fake you out of it, but I'm a decent trader, and that sounds like a horrible trade. Just tryin to help you out bro. BP shut up, I know its a lot, I'm a good trader. Lost, 80k by 10:30, even now.
my put spread took a beating...stupid trade. all the rest of my trades are system based...i should probably stick with that. i tend to be too contrarian when discretionary.