Discussion in 'Trading' started by diligent, May 25, 2007.
close, but not yet. may be very soon however, imo.
Is THIS where you want to short crude? I'm buying, and now USO has OPTIONS
let me be clear, i am not doing it now, but i just have "setup alert" in my gut...
i am long energy interests - it is the basis of my portfolio - but i am considering shorting crude as a hedge if it presents itself that way.
that is all i am saying. just discussion my man.
Well, if it closes under that channel line maybe I'll join ya. Are you trading crude futures or USO or OIH?
Refining capacity issues are causing a crude back up in the process. This can only last for so long before before gasoline demand snaps the bank of barrels.
I don't agree or disagree about shorting crude now, (I don't carry overnight when I play). But when you do decide to short, consider at the money puts rather than futures, to take out the geopolitical risk of getting your ass handed to you overnight if the mid-east flares up.
$70.00 going to $75.00 keep shorting if you feel very...very ...very lucky
Oil is at $77.00.
the system has to break then crude can break down hard from loss of consumption secondary to world wide recession/depression.