If Oil Gets Smacked Down, Equities Will Run

Discussion in 'Trading' started by ByLoSellHi, May 28, 2008.

  1. And that's pretty much all he does.
     
    #21     May 29, 2008
  2. >> empee I look and look and so seldom find someone on point. You are absolutely correct!~ stoney
     
    #22     May 29, 2008
  3. Bingo.
     
    #23     May 29, 2008
  4. Just like I sad (Ivan!!).

    Oil broke, and equities are running.

    And oil broke on a bullish inventory report.

    BSDs are selling oil on the bullish news.
     
    #25     May 29, 2008
  5. It would seem you made the right call. Well done, mate.
     
    #26     May 29, 2008
  6. Some say it is skill. But it was luck.

    On a serious note, I do think the reason oil is selling off is because the supposed bullish inventory report really wasn't - Bloomberg is reporting the drop in inventories is because of delays in unloading gulf ship crude.

    So, either way, it's ultimately very bearish for CL.

    I'm very relieved to see crude oil breaking down. This is exactly what the equity markets needed.
     
    #27     May 29, 2008
  7. S2007S

    S2007S


    I do like oil settling down after a very bullish report, however Im not buying it that the oil drop will continue, we got that surprise jump in oil yesterday morning, I believe this could happen again, I think oil could make another run to new highs where I would be placing even more shorts. The market is now trading the opposite of oil, which is finally a good thing.

    Even though the markets running higher today I added on some new inverse positions.
     
    #28     May 29, 2008
  8. I'm not sure I'd call it a breakdown just yet.
     
    #29     May 29, 2008
  9. what do you think is a good entry point for going long DUG?
     
    #30     May 29, 2008