I would be surprised if we see oil higher than 26 by next week. Failed break out today and persistent selling at 26 level. The question is will...
Got a good laugh!
May not see the worse of it since IB will now auto liquidate T-2 before expiration.
Demand will come back slowly, but will not save Jun20. If it tanks and take Jul20 with it, then, good buying opp to grab.
Oh crap, sorry for typo there that led to a bit of a debate. I meant to say that I think we are over supply.
Commodities are pretty much events driven. There are upside and downside risks. In absence of crazy events, I don't think we are over supply at...
I just know its going to be ugly for oil within 2 weeks.
I recall the OI for last contract at expiration was 45k or so. The current OI for Jun20 is 261k. I bet these are mainly longs, who will need to...
Probably not going to save Jun20 contract. Only ones truly buying are those who have storage capacity and they know there's a problem...why buy...
Milking oil to feed ES. Lol
Either next month contract goes up or front month goes down. Looking for 17.
Wow, oil going nuts again.
I throw darts to determine my entries.
If a trade goes in your direction every time, then you have superb timing on entry. Nobody is that good.
I will bail my long if SPX goes below 2900.
Also, short trade at 18 now is risky. It would have already gone down earlier but went back up. It will blow pass 18. Just waiting for 20.
Can't be exact all the time, hence, i trail in. If it hits 18, I can increase. All last 5-6 trades in oil were profitable, except for the stop...
When I shorted earlier, it actually when down to 16.60, but I was napping. Bounce up to quick so I took only a small gain from short entry.
Agreed. Looking green for the day, but also looking to short near 3000 if it gets ther.
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