Time to short Oil

Discussion in 'Commodity Futures' started by thesharpone, Jul 3, 2008.

  1. Not unless you apply the accordeon method.
     
    #11     Jul 3, 2008
  2. Correct.....the accordion has been making a killing in oil with multiday intra-day $5 to $6 dollar swings which mass rapid and repititious daily profits.
     
    #12     Jul 3, 2008
  3. With this drop in oil after the ECB "statement" release, I am still holding my $145.50 and $145.75 entries in the QM and all other positions I started with yesterday are now all covered with profits.....I will see if oil can get below $140 in the next few trading days.
     
    #13     Jul 3, 2008
  4. I am not shorting anything, but I would expect oil to come off a little in the short term based on the statements made by the ECB. Also, the chief German economic advisor did not agree with the rate hike, saying that he feels the eurozone will be in a deep economic slowdown.

    should be interesting to see what happens.
     
    #14     Jul 3, 2008
  5. I see oil down to at least $138, short term
     
    #15     Jul 7, 2008
  6. I am looking at $132 and $114 levels as the areas of support below the current trading range.
     
    #16     Jul 7, 2008
  7. P&F charts pointed to $144 zone as the target a while ago. With ATR and skew massaging, the target has been revised higher. I think she needs a rest soon. Needle thin moves make me queasy. ;~)

    Sell the rhino horn, buy the fishing line....to quote an old master.
     
    #17     Jul 7, 2008
  8. 136.62 and I am out
    I made more than I wanted
     
    #18     Jul 8, 2008
  9. I covered all my remaining $145.50 short positions at $135.50 today.....still holding my $145.75 short entries for sub $132.00 levels down the road. That was one nice pullback! :)
     
    #19     Jul 8, 2008
  10. what did you do with the remaining short positions? right now crude is at 145.43$
     
    #20     Jul 11, 2008