Well, Pabst called it. Also, I did dump a long oil position on the morning of July 14th, (Precise all time high price) and posted about it here: http://www.elitetrader.com/vb/showthread.php?s=&postid=1131774&highlight=crowded#post1131774
Also surf's been short from just below the final spikeup top. Around 75-76 I believe. (That's the old contract prices )
we're forming an ascending triangle near 64.70 late in the day. i wonder if it breaks out, how high we will go. Look at this. http://www.bloomberg.com/apps/news?pid=20601087&sid=aK1oq6qdG0Fc&refer=home I too bought yesterday at 63.75, but sold right before the report for a small gain. then like a dumbass I couldn't stay out and got slaughtered (going short), then reversed... hopefully I'll get a decent recovery.
Pulling back at the moment. There have been lots of failed breakout attempts recently which were sold into. We'll see how the close goes.
Hopefully you will. It's hard to trade intraday sometimes as it reverses quite a bit as many things do when they're trying to base. Thanks for sharing that article.
5Pillars: Did u get positive delta for crude whole day today? I think this is our first positive delta in more than 5 days