SHORT oil @$125.55 and up

Discussion in 'Commodity Futures' started by 5Pillars, May 9, 2008.

  1. If it was overbought at 128+ . . . . . Just wondering what is going on with everyone's short.
     
    #51     May 21, 2008
  2. I do not wish ill on anyone, but if one feels the need to post his trades for the entire board to read, one should follow through whether the result is good or bad.
     
    #52     May 21, 2008
  3. That being said, where are the shorts?
     
    #53     May 21, 2008
  4. Drilling holes
     
    #54     May 21, 2008
  5. No - did you forget I already had positions covered last week at +$4.00 per contract in addition to the many other scale-in and scale-outs I/A/W the method of how I trade this set up mentioned earlier in this thread.
     
    #55     May 21, 2008
  6. How about your current positions?
     
    #56     May 21, 2008
  7. I am currently holding positions from 127.85, 128.35, and 131.50. I had a fill on a position at 130.35 that I covered at 128.85 (for +$1.50 per contract) while also covering my 128.85 previous entry at b/e. I still have a target at $127.35 to cover my lowest level and hold the highest two levels on any pullbacks. As always, I will continue to scale-out and then scale back in a small portion of my overall position on any price pullbacks and rebounds.
     
    #57     May 21, 2008
  8. LT701

    LT701

    how's that working out for you?
     
    #58     May 21, 2008
  9. Covered 80% of position at 28.20 and got stopped out at breakeven on last 20%.

    Shorted today at 31.70 after data, covered 80% at 31.20 and stopped out on last 20% of position at breakeven.

    Have an open order to short at 32.70. If filled, will cover 80% at 32.20 and move stop to b/e.
     
    #59     May 21, 2008
  10. It works out very well and is a form of what I call the "accordian" method. I am extracting profits of a small portion of the overall trade while managing the core position to play for a price pullback to a specific price target area ($112's in this case) - or "trades within a trade".
     
    #60     May 21, 2008