Have a nice trip down...should be good for 4-6$ heading into August Option Expiration, and beyond... RBOB smoked today with little reaction in the crude..methinks it's a delayed one...
the ulta-wide crack spreads are just returning to earth, hence crude holding a little in here. don't disagree that oil is going to pullback some but the move today was about crack. crack is whack!
i know this maybe a crazy idea on this site but why not try to buy oil on a pull back to say the 22 day moving average?
How much longer can crude go against the downward spiral momentum of Gas and Natty? I got a feeling 72 first before we see 75.
Not burnt but got a stop at 76. Shorted at 74 yesterday, only 1 contract of QM so it's not that bad. Oh well... RB did well though so I'm happy at least that one worked out.
silly crack spreads... the Q RBOB/CL spread has fallen over $10,000 in the last 5 sessions...looks like it IS coming back to reality.... What a move...