Long oil the dollar is screwed.

Discussion in 'Commodity Futures' started by spersky, Apr 30, 2008.

  1. Any ideas on how the fact that Iran is no longer trading oil in USD will affect things?

    8s
     
    #11     May 1, 2008
  2. spersky

    spersky

    Btw, the initial plan was about a 3:1 risk ratio. That is the setups that I dream of. Oil/ Gold can deliver that kind of low risk trade all the time.

    Still it was a bad call. I will try to give more details especially if I make calls like that. Usually all of my calls based on Fundamentals are wrong when I go back and think about it. The charts treat me so well though.

    For example been short GOLD/EURO and long ES since Last night after I got out of oil. Every fiber of my being said those where possibly bad trades, but the charts where so bearish for Gold and EURO. I pulled the trigger anyway. I guess every trade you learn something.
     
    #12     May 1, 2008
  3. Pachoo

    Pachoo

    Covered my June Crude shorts at 110.50

    Will look to get back in at 112.
     
    #13     May 1, 2008