Discussion in 'Trading' started by tradingmonkey, Jun 6, 2008.
In agreement with you. I am playing it via EUR/USD for now since noon today
I went short at an ave of 137.475 (actually a wee bit higher but between ticks)
traded it back and forth today to the short side and made a few bucks but carrying over an open loss through the weekend.
there will be a pullback of some sort
Sure oil is way extended, but you got to have some major cajones to go short the futures into the weekend after today's move!
Going long a bunch of DEE early next week, trading around $20.
Double Short Commodity ETN.
some of these guys dont realize that all it takes is one bad thing go off in the middle east for oil to rocket huge amounts very quickly, perhaps the price will gap your stop then you could see a huge amount of your capital evaporate overnight, if you are leveraged you could be broke by monday. I mean if it can rise $10 on rumors imagine what a air strike in the wrong place could do. a up $50 day is not even close to impossible
Anyone doing this outright has balls. I'm long a few puts, and can afford to be wrong. If as a trader someone doesn't understand options, they shouldn't be trading (period).
no way oil is gonna drop on monday.. bought some july calls for OIH and xom @ 3.55 PM today..
Looking like we will see $150, not shorting oil but am short the Market. This market should get creamed some more, today I think is about 1/3 the move if that.
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