Oil On Fire

Discussion in 'Trading' started by EMRGLOBAL, Apr 7, 2008.

  1. The dip last week or so was an excellent jump in opportunity. OIL ON FIRE as futures push to record highs after hours.

    Target 120 to 130 a barrel by mid summer.

    Natural gas....moven up...

    The Energy Bull continues.....with serious momentum

    Feds can't stop the energy run......

    all the do is pump it up more with the "Weaking" of the dollar....flight to quality is Energy....
  2. tomorrow if Gas and crude invent drop.. and refinery capacity still below 87 % then mkt rallies above 109.50 .. then huge short covering ... pushing crude to new all time highs.. especially if stock market indicies are up big on the day.
    Opinion of course
  3. I'm looking for a double top right here. not real comfortable in the % success of this, but great R/R if it works out.
  4. here is my trade for oil tomorrow...

    at 8:29 am i place buy stop entry 30 pts above mkt ..

    same time place sell limit 50 points above 30 pt entry.. if my stop gets filled.. for half of the position

    set another sell limit at 90 pts above 30 pts for all but one contract.

    brk even stop (loss) order for 1 remaining position.

    Stop loss order if filled on all 5 at 20 pts.. below entry..
    risk 1000.. potential gain: 2800 + end of day close of 1 remaining long if everything works properly.
  5. putting in orders.. so far so good
  6. out of 2 @ 110 2 at 110.4..
    stop in on last one at 109.50
  7. ik amout of last position 111.32

    here is what i made

    in at 109.70 (5)

    out2 at 110.3 + 1000
    out 2 at 110.60 +1800 (2800)

    out 1 at 111.32 last position + 1620

    uip 4420 on 5 lot in less than 2o minutes and day tradign doesn't work huh!