Oil Limit Up - I Am In Awwwww

Discussion in 'Trading' started by Port1385, Jun 6, 2008.

  1. The charts were telling me that oil was about to breakdown, I was ready...then suddenly price limits up and appears like Google after its last conference call on the chart.

    All I have to say is that I am in awwww.....
  2. I'm going to be on the lookout for what happens when it hits $150 or near it, everyone seems determined to push it there. Will look for selling near there.
  3. opm8


    If "everyone" is pushing to 150 then you're gonna get your ass handed to you shorting from there. Why not wait for a reversal to confirm?

  4. You mean like the reversal off 135?
  5. opm8


    No, that was by no means a reversal confirmation.
  6. I didn't mean I'd short the minute it hits $150. I just meant I think it will at least get there, since that seems to be where everyone is pushing it too. Maybe it'll top out before then, who knows, but unless I see a huge drop before that level, that's when I'll start paying attention.
  7. Hey, if it gets to $150, you might want to own it.
  8. limit up limit up!
  9. I actually made money on the short side today $.95. wacky biz we have here guys.
  10. http://www.bloomberg.com/apps/news?pid=20601087&sid=aNrvd_rk.PUs&refer=home

    I'm going with Mr. Lee here. I find it pretty unusual that NFP would beat the analyst estimate and yet it still sparks a sell off in dollars, a buy up in oil, and consequently a sell off in stocks. Look for a recovery on Monday!
    #10     Jun 6, 2008