getting killed today. is this more to do w strong dollar/market rally, or geopolitical tensions dying down a bit w iran news today? anybody going long here?
Also, TBP's head must be spinning. he shorts at 100 it goes to 110. then he goes long at 105 its back down to 100. he must be getting rocked...
I doubt that. He has been in the oil business long enough to weather these rallies and pullbacks. Today was very nice though. I tried a little on the long side this afternoon but was a little too soon and got stopped out. I at least kept most of the day's gain from the sell off though. We could probably re-test the $98.65 low from 3/20 after today's carnage so maybe hold off a bit unless things change drastically overnight. Good luck.
The sell off is more to do with Iraq pipeline going back online tomorrow. There was some competing news this morning that kept it high before the ring open but I think this story is driving a lot of the selling. Also, it is end of the quarter as well. Who knows really, I just follow the price. http://www.reuters.com/article/hotStocksNews/idUSSYD3274320080331