Crude Oil (CL) on Globex

[Sparrow 10]

Bear, I agree with you. It didn't pull back that much on the production increase, and when straight up into the close. CL could cycle around the current level or a little bit higher for a while, but i am just guessing.

[The Bear 10]

Bear, I agree with you. It didn't pull back that much on the production increase, and when straight up into the close. CL could cycle around the current level or a little bit higher for a while, but i am just guessing.

 

I don't doubt that we will get a pull back eventually, since it likes to rest after awhile....but i'm guessing too. Nobody 'knows' what oil will do.

 

If these attempts to depress oil prices fail over the next month, that in itself is very bullish in my opinion.

 

Sparrow, just a comment - I wouldn't dump QM. QM is very useful and it tracks CL almost perfectly...even in fast markets. The spread is at times 1 tick wider than CL, but it usually doesn't last long...only a few seconds. Giver tommorow - she'll reward you. Good trading tommorow dudes - it should be a hot day in the oil ring...turning in for some sleep now gotta wake up early 9:00am:crap:

[Sparrow 10]

I'm also taking the following months contracts into account, which are bearish and we'll be rolling over soon.

 

But it's not much of a factor if you have a short term foucs and might not even mean a think in the medium term.

 

Being wrong a lot of times is the countertrend trader's fate .

 

Good luck

[garp 10]

Be carefull with CL shorts, we have to see stronger dollar first. But I would be short for downtick in the nearest three trading days (before FOMC). I'm trading on the Russian market mostly (which is a "big oil future"), so here we know something about this subject

[rock 10]

It's going to be a great Christmas.

[rock 10]

re-entering a sh 80.7 to closing

[rock 10]

well that sucked

[The Bear 10]

Did you cover all your shorts rock? We keep marching higher and there's no indication of a substantial reversal.

 

I have a target of 100

[rock 10]

Yeah i covered after i posted it

[rock 10]

sh 85.45 and 86 last night

im a gun slingin cowboy

yeeeehaa

[Niko 10]

Anyone interested in bringing this thread back from the death?