If I weren't so wary of the Tweeter-in-Chief claiming the cure for Corona Virus is Big Macs and french fried in the middle of the night I'd be staying short. Makes me wish I had kept my shorts open that I closed Sunday night.
I will long at 2630ish for overnight. I think go up again tmr for big sell off Thursday. Or it could sell off early, who knows. But 2630ish is good support, otherwise, reverse position to short.
I'd be surprised if crude weren't down big the rest of the week - the only thing propping it up is hope that the Saudi's and Russia kiss and make up. But I don't think they play ball unless Trump agrees to cut, and what are the chances of that?
Bet you're happy you don't trade, huh? I had to block @hafez50 ... he just rubs me the wrong way, you know?
Exactly. In order of pain at current prices, I'd say we have Venezuela #1 (but even with oil at 200 they'd be screwed anyway), then US, Russia and last the Saudis and their neighbors.
That mini crash seems like 'noise' to me as we pretty much only reversed the prior + 46,75 point swing up which was pretty impressive in its own right. Ultimately, I think we're going to trade lower again at some point in the near future, so I don't hold a strong opinion either way. I'm just saying I could easily see this trade higher from here and that today's trading didn't set up an obvious short trade the way I see things.
We shall all know in the fullness of time. A gap down open tomorrow would definitely convince me. I see you're probably using different settlement prices for me on the gaps. I use 09:30-16:00 and not 16:15. Speaking of the older ES journal earlier. Were you ever active in the past using another handle? I believe you registered not that long ago, but I get the feeling you maybe been around longer than that.
OK, here's what triggered the selloff... https://edition.cnn.com/2020/04/07/politics/modly-resign-crozier-esper-trump/index.html