Ahhh, so you will only be buying at the 39s??? and when you cahs them in just wait till it falls then re buying down in the 39s or lower...? The key levels i see are; 39.26, 38.86 38.62 and the 37.86
NEW YORK (Reuters) - The break in the link between oil prices and the dollar seen for much of the past 18 months is unlikely to be reestablished soon. Crude and the greenback, which historically had little to no direct trading relationship, began to show a strong negative correlation from 2007, when investors rushed into
CL still continues to facilitate daily net profits, day on day, for building up a plan of consistent success for the individual trader. The number of gyrations this week were in the bottom of the range for CL, namely 3 to 5 gyrations per session (gyration = 2 legs, up & down or down & up) with Friday (Feb 6, 2009) having 3 & half gyrations. The price range however for Feb 6 (Friday) was 353 points. Using a reliable methodology you exploit the days gyrations, buying the upmoves and selling the downmoves sequentially. The sequence in this Fridays gyrations (up/down repeating 10.00 to 14.30 on Feb 6) produced 7 macro 'legs' of minimum 35 points each. The mean average of those 7 'legs' was 139 points per 'leg'. Therefore between 10.00am and 14.30pm, thats more than 950 points which were on offer.
I believe we get a stimulus bill before cl opens Sunday, money comes running into commodities equities futures Sunday night. Crude gets a slight pop Monday, maybe slightly more, on first half Tuesday, then Sells off before Cushing data on Wed. 6mm, 6mm, 7mm these builds are keeping prices down, can`t run on those reports. I positioned myself for a pop on Monday, bought USO calls, but will trade out of them on Monday----just cannot sit still in this or any market right now.
Wish I had that skill set. I can see it in hindsight only. You are well ahead of where I am, I hope one day I can trade like you. I remember when I was a kid, a hurricane was coming up the coast. The waves were huge. 15 ft easy. I grabbed a surfboard but the whitewater from these waves made it hard to get out. After a half hour of trying I took a break. A guy who was taking pictures of some pro or semi pro came over. He said, "You just don't have it." And walked away. So I get all pissed and jump right in. I never made it out. lol While I cant trade this beast intraday, I do see the lows getting taken out before this contract ends. GL
FLAT in QM's as of today and will wait for a decent pullback to get back into the QM's LONG again. Pulled my last held LONG July QM's at $60.40 this early a.m. and I am done cycling positions in/out for a while. Sure would like to see sub $50's, but that will be tough unless the equities markets go back to their yearly lows again........lets see what happens the next few months.
hi im new here. errm i m confused to what im seeing in the nymex contract specifications. does the nymex sweet crude futures have a contarct time of nine years? 30 months ? what i really want to know it for example when you long a contract you have how long till contract expiary? 9 years? 30 months?