Seth, i think Gaza part deaux and Iran stirring the pot has what Big Ben would call "an upward bias to the market"
i saw qm trader all the way down to 72.20..almost 80 contract traded below 72.9..wonder if was just tops being hit..more importantly if exchange will honor those trades..
Wow, oil touches all time high of 75.35 today and backs off 20cents before settling 75.15. This thing is going higher, guaranteed. Tomorrow's inventory number is expecting a draw in both crude and gasoline. It should get interesting. The strategy for now is to buy dips....scale down buy would be best if you have the capital to take heat.
API and DOE. They come out at 10:00EST....... Thinking about taking half off before and then buying a dip if there is one.
Woke up this morning (in Asia) to see I had bought some SEpt QM at $75, only to see CME break the trade a couple hours later. Moe Foes ... Does anyone recommend I have recourse on that?
I thought the long term trend in oil was supposed to be down? Oh, sorry I forgot, most in the media/market seem to base the long term trends on what happened over the last 2 days. Guess the long term trend must now have turned up